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◆ Germany taps 2056s for second time this year, taking €4bn ◆ Spread was fixed from the start, rare for the issuer ◆ ‘Very, very flat’ 2054-2056 roll was key to the decision
◆ Third suprnational dollar benchmark of the week ◆ Deal was priced after swap spread leaps by more than 1bp ◆ 'Pretty strong' execution regardless
◆ Nordic sovereign brings year's final euro deal ◆ Pricing strategy adjusted after secondary widening ◆ Land NRW attracts with pick-up over KfW
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The higher one climbs the investment banking ladder, the less science seems to be applied to recruitment. While trainees must suffer weeks of formal recruitment process, the biggest P&L drivers are more likely to be tapped up down the pub -
◆ Bund trades 'risk-off' amid tariff caution ◆ EGB secondary hindered by summer illiquidity ◆ SSA issuance expected via taps and MTNs
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Issuer reaps ‘pleasant and unexpected reward’ from new NZ dollar deal
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Appetite for long‑dated MTNs firm in quiet summer market, say bankers
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Better read on secondaries would help syndicates price bonds
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Hundreds of billions of euros of joint debt needs to be agreed upon before 2028, but many questions unanswered
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