Pre-migration untagged articles

Although there were only two new issues in the European corporate investment grade bond market this week, sentiment in the sector is strong, with several borrowers gearing up to issue.

There were no new jumbo covered bond issues this week, but the pipeline began to fill up, with three banks announcing plans for deals.

US dollar swap spreads widened this week before the announcement of the April non-farm payroll data today (Friday).

For the second time in the past year, the European Bank for Reconstruction and Development issued a Rb5bn (Eu147m) five year bond this week. A third rouble deal is on the cards, possibly as early as September.

The US market saw a very similar movement to that in Europe, and dealers were equally dubious that this meant a corner had been turned.

Thank you to the EuroWeek readers who have been providing us with some marvellous Nomura stories. Former employees have been sending in some hair-raising tales.

As foreshadowed in EuroWeek, Russian state-owned oil company Rosneft looks set to scale back its July flotation to a deal size of around $10bn — half the originally mooted $20bn.

There were a couple of signs this week that the credit default swap market might have reached the high water mark of its recent rally.

Non-farm payroll data in the US today (Friday) and an FOMC meeting next Wednesday are likely to keep dollar issuance at a minimum next week.