Top Section/Bond comments/Ad
Top Section/Bond comments/Ad
Most recent
Analysts discuss the scope of tightening in Bund swap spreads and the impact on SSA spreads
OATs and OLOs could weaken further versus Bunds while southern European countries and EU continue to paint a positive picture
Uncertainty looms large as presidential race far from clear and budget negotiations potentially ‘highly challenging’
Summer in full swing but first two weeks of August not completely off the cards for non-euro deals
More articles/Ad
More articles/Ad
More articles
-
Instituto de Crédito Oficial saved precious basis points on Tuesday, printing a short two year deal against a backdrop of falling periphery eurozone sovereign yields following some very dovish comments by European Central Bank president Mario Draghi late last week — despite some ECB officials being more hawkish since. Spain also benefitted at a bill auction the same day, while Portugal lined up an exchange offer and Italy unveiled its target for a bond auction on Thursday. -
Ethiopia is meeting investors for its long touted dollar bond debut. The strong African growth story, diversification play and JP Morgan EMBI eligibility left bankers in no doubt that demand for the offering will be robust, but debate has already started over where the deal will be priced versus neighbouring Kenya, which is also in the market.
-
When UBS exited the supranational and agency bond business in 2012 there were justifiable concerns that more and more dealers, straining under the cost of supporting this most important part of the capital markets, would follow suit. But the sector has changed — and even those dealers that left clients in the lurch should not be afraid to rebuild old relationships. They may even find themselves welcomed back with open arms.
-
Pakistan has opened books on a five year dollar benchmark sukuk, with pricing expected to follow on Wednesday.
-
Banks working Pakistan’s first sukuk since 2005 opened books on November 25, even though the borrower was still on its roadshow.
-
Opportunistic deals will form the bulk of syndicated euro issuance this week, with most SSA issuers either near or at the end of their funding tasks for the year. Other euro supply comes via auctions from Italy — whose 10 year yield fell to a record low on Monday — and the European Stability Mechanism’s final visit to the market this year.
