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NatWest plays for duration with long-dated holding company senior

◆ Two steps to terms debated ◆ Priced flat to fair value or even with negative concession ◆ Investors split on long-dated holdco supply
When loans' LTVs hit 80%, Bitcoin stakes are liquidated in seconds

Erlandsson to leave Anthropocene Fixed Income Institute, return to AP4

Founder of climate investing think tank wants to apply ideas as bond investor

Missing mandates need not be so miserable

No one wins playing the blame game
When loans' LTVs hit 80%, Bitcoin stakes are liquidated in seconds
Sub-sections
  • A surge in repo-eligible issuance and deteriorating credit outlook for the retail and hotel commercial mortgage segments that secure some cover pools has pummelled the Pfandbrief market. This has been compounded by a lack of transparency leading to "an uneasy feeling" and ‘some uncertainty’ said bankers.
  • Analysts at Société Générale say that bank credit spreads have plenty of room left to tighten in 2020, especially as supply volumes fall in the second half of the year.
  • FIG
    National champions have outpaced their smaller peers in the rally in bank bond spreads over recent months. Investors say individual valuations in the middle tier of the sector could pick up, but that the chances of consolidation may first have to improve.