Pre-migration untagged articles

The roll of the Series 4 iTraxx indices into Series 5 is completed in less than four weeks. On previous occasions, the basis to the theoretical in the old index was driven tighter to negative levels while the new index was pushed wider into positive territory. This was because the majority of accounts were short the old index (that is to say they had bought protection) and then they closed out these positions before rolling fresh shorts into the new, more liquid index. However, on this occasion, analysts expect developments to be different.

German utility E.On's Eu29.1bn bid for its Spanish counterpart Endesa this week is likely to be the biggest European acquisition since Sanofi-Synthélabo took over Aventis in 2004, and could produce another jumbo corporate bond financing. At least Eu10bn is set to be refinanced in the bond market this year. In January Spanish telecom company Telefónica raised Eu5.5bn in the bond market to help finance its £17.7bn takeover of UK mobile phone company O2.

Caixa Catalunya achieved competitive pricing in the cédulas market this week with its inaugural issue, a Eu1.75bn 10 year transaction.

The week's big story in the dollar market is that the swap rate curve is inverted from two years to 30 years. "You've got a lot of guys who have relied on the carry trade for the last four or five years, and now suddenly they don't know what to do," said a swap market veteran. He added that some accounts were looking to European and Asian rate markets for trade ideas.

Market outstandings touched around $517bn this week and asset backed outstandings had crept up to around $159bn yesterday (Thursday), up by about $14bn over asset backed outstandings at the end of January this year.

The European Investment Bank sold its first 30 year dol lar bond this week, in a $1bn deal that achieved tight funding and could lead to a revival of 30 year issuance in dollars by top-rated borrowers.

The European Investment Bank sold its first 30 year dol lar bond this week, in a $1bn deal that achieved tight funding and could lead to a revival of 30 year issuance in dollars by top-rated borrowers.

EuroWeek's skilful IT hackers have managed to log in to one of the Eurobond market's most secret internet chatrooms — Euroblog.

The European Investment Bank explored far out along the dollar yield curve this week, pricing its first 30 year dollar benchmark transaction via JP Morgan and Merrill Lynch. The EIB, which is already familiar with longer dated transactions in euros, where it issues in 15 and 30 years, found strong investor demand.

The European Investment Bank explored far out along the dollar yield curve this week, pricing its first 30 year dollar benchmark transaction via JP Morgan and Merrill Lynch. The EIB, which is already familiar with longer dated transactions in euros, where it issues in 15 and 30 years, found strong investor demand.