Latest sovereign news

  • Cyprus offers ‘fair price’ and wins bumper demand

    Cyprus won huge demand for its return to the 10 year part of euro curve on Tuesday, with the final book almost four times covered. The deal should set a good backdrop for Greece to come to the market in the same maturity — as long as it pays up a sizeable concession, according to SSA bankers.

    • 18 Sep 2018
  • HSBC picks DCM stalwart to co-head securities services

    HSBC Securities Services has appointed two global co-heads — one of them a well-known figure in the debt capital markets.

    • 18 Sep 2018
  • Cyprus mandates for 10 year euro return

    Cyprus picked banks on Monday for its first euro benchmark in the 10 year maturity since 2015, following S&P's return of the sovereign to investment grade status.

    • 17 Sep 2018
  • Russia hikes rates as sanctions bite

    The Russian central bank announced a 25bp rate hike on Friday in a move calculated to offset the effect of expected US sanctions.

    • 17 Sep 2018
  • SSA and covered bond trader returns to desk after investigation

    An SSA bond and covered bond trader who was on indefinite leave from his desk following the launch of an investigation into the SSA market by the US Department of Justice in 2015 is back at work, GlobalCapital understands. His return has come as a US court dismissed a lawsuit related to the investigation.

    • 17 Sep 2018
  • Korea finds ‘explosive’ demand for bond return

    The Republic of Korea ended up with a peak order book of a whopping $9.5bn for its $1bn dual-tranche issuance on Thursday, as global market headwinds proved a boon.

    • 14 Sep 2018
  • Banks pile into €4bn Spain linker as new IFRS rule encourages hedgers

    Spain this week built an €18.5bn order book for an inflation linked bond, its largest since its inaugural trade in the format in 2014, with much of the demand generated by bank treasuries attracted to the deal by new accounting standards that have eased hedging requirements. But while demand might have increased, bankers will still have to persuade borrowers of the merits of inflation-linked issuance, writes Burhan Khadbai.

    • 13 Sep 2018
  • Turkey delivers colossal rate hike but recession looms

    The Turkish central bank, in a remarkable display of independence, has raised its weekly repo rate by 625bp, combatting its runaway inflation but making recession a more likely prospect, according to one investor.

    • 13 Sep 2018
  • A closer eye on Indonesia is no bad thing

    Emerging market investors are on edge, and rightfully so, as Turkey, Argentina and South Africa face up to serious economic problems. In Asia, that has triggered outflows — and risk aversion — from Indonesia, which is in a much stronger shape than its peers. But the volatility presents an opportune time to scrutinise the south-east Asian country closely.

    • 13 Sep 2018
  • Saudi Arabia returns in sukuk

    Saudi Arabia has come to market for a long 10 year dollar sukuk bond, targeting $2bn, returning for a trade after five month’s absence from the bond market.

    • 12 Sep 2018
  • Never mind the ECB… it’s the Italian budget

    Italy’s upcoming budget is far outstripping anything that might come out of this week’s European Central Bank meeting in terms of investor concerns, with one portfolio manager suggesting BTPs could come under further pressure in the run up to the announcement.

    • 12 Sep 2018

Sovereign news archive

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 14,170.57 17 10.24%
2 JPMorgan 12,747.94 19 9.21%
3 Citi 12,168.30 20 8.79%
4 HSBC 10,850.10 15 7.84%
5 NatWest Markets 9,080.61 8 6.56%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 33,887.97 88 12.19%
2 JPMorgan 25,730.35 63 9.25%
3 HSBC 23,733.08 55 8.53%
4 Bank of America Merrill Lynch 21,395.48 63 7.69%
5 Deutsche Bank 19,620.53 30 7.06%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 31,043.38 78 8.31%
2 Barclays 27,501.57 50 7.36%
3 HSBC 26,314.95 89 7.05%
4 UniCredit 26,051.17 68 6.97%
5 BNP Paribas 24,218.32 52 6.48%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 66,477.67 380 7.09%
2 Citi 64,342.80 235 6.86%
3 HSBC 59,985.33 223 6.39%
4 Barclays 51,955.03 189 5.54%
5 Deutsche Bank 44,633.81 139 4.76%