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Bloc steals focus in euro market this week as World Bank's IDA brings SEC-exempt debut in dollars
◆ Issuer's first sterling deal since Feb 2024 ◆ Large order book, decent levels ◆ Enough peer comps to build curve
New label and attractive relative value of French agency paper allow large spread tightening
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The UK Debt Management Office is seeking views from its primary dealer group and other interested parties for a tender offer for a conventional Gilt. -
This week's funding scorecard looks at the progress that Europe's supranationals and agencies have made in their funding programmes by the mid-point of August.
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Bank of America Merrill Lynch hires fintech chief — Perella Weinberg builds European restructuring team — UniCredit finds SSA trading boss.
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LiquidityEdge, which operates an electronic marketplace for US Treasuries, could now look at offering a similar service in the European government bond market after its purchase by MarketAxess. The latter’s president, Chris Concannon, sees the pressure European banks face to cut costs as a boon for trading automation in the region.
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A number of supranationals have delayed their plans to issue Panda bonds over a dispute about their accepting Chinese regulatory oversight, write Rebecca Feng and Burhan Khadbai.
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An impressive rally in Italian risk assets has been completely overturned this week, as Italy descended into political chaos. Some market participants now fear a repeat of last year, when Italian issuers were frozen out of debt and equity markets as the country’s government fought with the European Commission over its annual budget targets. Tyler Davies and Sam Kerr report.
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