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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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Crédit Agricole has appointed Sébastien Domanico as head of global markets for Europe, the Middle East and Africa, just weeks after he was picked to lead a different division at the bank. -
The US Federal Reserve delivered a 25bp rate cut as expected on Wednesday, but the signalling failed to satisfy investors desperate for more accommodative policy, causing a mild sell-off in emerging markets.
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A rates and structured sales banker at NordLB has resigned and will taking a job in the treasury department of Ålandsbanken, a bank headquartered in the Åland Islands, an autonomous region in Finland.
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Investors in rates products are focussed on central bank monetary policy this week, with some still convinced that the US Federal Reserve could come in more dovish than expected with a 50bp cut to rates.
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UBS and Citi trader Tom Hayes was jailed for 11 years for manipulating Libor. But while the trader argued that he was made a scapegoat for the financial crisis, perhaps the rate he rigged is a bigger victim.
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Ukraine’s GDP warrants are trading around a cash price of 85. That is way below JP Morgan's view that fair value is closer to 135. No matter the new, surprisingly positive GDP growth forecasts and enthusiasm for the country’s new leadership, from the trading numbers it seems clear that investors do not believe they will get their money from Ukraine.
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