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Central bank independence has long been one of the sacred cows of western financial policy, but the rise of populist politicians is increasing the possibility that it might be on the way to the abattoir.

Bankia on Tuesday decided to sell its first senior non-preferred bond after the whole market rallied about 5bp as a result of a speech from Mario Draghi, president of the European Central Bank, on Monday. The issuance attracted a hefty book of €3.7bn, more than seven times its pre-determined size of €500m.

Deutsche Bank’s plan to create a new non-core unit, housing €50bn of assets largely from its markets and banking businesses, is just more of the same old Deutsche restructuring plan, warmed over for a new management team. If a non-core unit, cuts to costs, simplification of business lines, a dash of IT spending and a focus on the best businesses didn’t work when Deutsche stock was at €30, why would it work at €6?

European securitization investors this week are pricing longer duration deals tighter than earlier in the year, made comfortable by the ‘simple, transparent and standardised’ (STS) label. This is being demonstrated on Tuesday by Argenta Spaarbank's Green Apple RMBS deal.

Infineon Technologies, the German semiconductor maker, has raised €1.54bn of fresh equity to finance its takeover of Cypress Semiconductor, an American rival, via an accelerated bookbuild.

Primary Health Properties, the UK real estate investment trust focused on healthcare facilities, plans to raise £150m by selling a new convertible bond due in 2025.

Banks have taken a breather from issuing covered bonds in euros after a bumper week for issuance last week, but analysts suggest there is still plenty of interest among investors for further supply in the asset class.

Thank you very much for inviting me to this roundtable, and for the opportunity to give kick off with some thoughts and observations. I took some time to think about what I would say today, and decided to google the latest news in the area.

When GlobalCapital and Afme came together for this year’s annual securitisation roundtable, the topics were similar to last year – but the tone was much more positive. Nationwide’s pioneering Sonia-linked deal showed the sterling market that investors would buy the new benchmark, and Afme invited the building society’s secured funding head, Krishan Hirani, to share his thoughts and lessons from the deal. Since the discussion in mid-May, the transition has only accelerated, to the point where, as the market meets in Barcelona, it’s unlikely to see a sterling consumer issue without a Sonia coupon. The new Securitisation Regulation, which came in early this year, has been far from trouble-free – but some of the biggest problems with the rules were solved, and many issuers have already adopted the “Simple Transparent and Standardised” designation. Christian Moor, senior policy advisor at the European Banking Authority, was also able to join us, and offer his thoughts on the future of the market. Further out, we discussed the potential for securitisation, as the market with the closest connection to underlying assets, to help drive the sustainable finance agenda forwards. If that happens, securitisation will have completed the transition from villain to hero – and next year’s roundtable, and Global ABS 2020, should be more positive still.

HSBC has appointed Alexander Malloch as head of its international subsidiary banking (ISB) business in Thailand.

The Black Sea Trade and Development Bank (BSTDB) has said it is focusing on selling a three year bond this week.

Giovanni Tria, Italy’s minister of economy and finance, rebuffed the chances of a controversial ‘Mini BOT’ financial instrument coming into effect, as he gave a keynote address at the start of Euromoney's Global Borrowers and Bond Investors Forum in London on Tuesday.