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Sovereigns

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Reopening the €1.75bn bond issued in January attracts huge investor interest
‘Amazing’ reception for long dated syndications but issuers explore different options amid persistant duration risk
German bond house adds to growing roster of primary dealerships
◆ AFT's Antoine Deruennes says 'clear message' showed demand for 30 year ◆ Speedy execution before US employment data ◆ Green OAT syndication next
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  • SSA
    Investors were hit with a fresh political surprise on Tuesday, as UK prime minister Theresa May announced that the country would hold a snap general election on June 8.
  • Jefferies is building out its CEEMEA trading operations, and eventually plans to add primary markets, derivatives and local currency trading to a revitalised business.
  • A funding official for a southern European sub-sovereign borrower has warned that a victory for an anti-European Union candidate in the upcoming French presidential election could “bring misery to southern Europe as never seen after the Second World War”.
  • The first round of the French presidential election takes place this Sunday and, while the market is mostly quiet, Derek Halpenny, head of global markets research at MUFG, says that market participants have not priced in much risk of a shock anti-EU result.
  • SSA
    A hotly contested battle for the French presidency has quieted much of the public sector market this week, but KfW has picked banks for a five year euro benchmark.
  • UK prime minister Theresa May’s shock general election call on Tuesday may be a calculated attempt to crystallise the Conservative Party’s strong opinion poll lead into actual seats at Westminster — but she could simultaneously weaken her strong stance against a second Scottish independence referendum. That would be bad news for anyone hoping for a favourable outcome for the UK’s economy and financial sector in the Brexit negotiations.