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UK government can find direction by being determined on defence and green growth
Smaller orders, missing hedge fund bids as market exits ‘white-hot’ phase and soon to switch to holiday mode
◆ State’s pre-summer deal attracts €2bn book ◆ Maybe only one more deal to come on reduced needs ◆ 2bp NIP to start as issuer tries to ‘be fair to the market’
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◆ Big five year book for sovereign ◆ Fourth syndicated transaction "not required" ◆ Pricing didn't work for ultra-long dated tap
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◆ Missing fast money causes problems ◆ Fair value is a moving target ◆ SEK sails through with no-grow
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The two southeast Asian credits joined a host of other dollar issuers keen to get ahead of the September rush
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◆ Last dollar benchmark of 2024 is a five year ◆ Spread tightened despite tight start ◆ ‘Very strong print’ at a ‘carefully chosen spot’
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◆ Sovereign revisits five year maturity ◆ ‘A little difficult’ to find fair value ◆ Ultra-long tap ditched
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◆ Bpifrance prices year's largest benchmark ◆ French agency spread to swaps attractive ◆ AFD found opportunities in dollars
Sub-sections
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Sponsored by Islamic Development Bank (IsDB)
Sukuk market’s next chapter: Financing the future, sustainably
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
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