Top Section/Bond comments/Ad
Top Section/Bond comments/Ad
Most recent
◆ €18bn blockbuster executed in June ◆ Book size and quality both comparable to January ◆ Greece, Sweden to conclude sovereign pipeline for H1
◆ Lead points to high-quality book ◆ Subscription ratio slips from prior tap ◆ Maturity had 'pretty clear consensus'
‘Very normal market’ despite ongoing war and volatility to support another wave of new issues
Bankers say the ambition to price the first SSA bond through US Treasuries has faded as recent five year deals stall and barely perform in secondary
More articles/Ad
More articles/Ad
More articles
-
Banco Espírito Santo reported a €3.6bn loss this week, but the Portuguese soveriegn looks safe from contagion. Its $4.5bn October 2024 from four weeks ago has tightened versus swaps since pricing. -
The news that National Front leader Marine Le Pen is ahead in the French presidential race polls will provoke nothing more than a wearied sigh from most in the market. After a strong showing from anti European Union parties in May’s European elections, which the markets took in their stride, it seems that politics can’t hurt the feel-good buzz in European debt markets spurred on by the European Central Bank’s easing policy. But market participants can’t afford to take their eyes from political developments.
-
-
The Portuguese sovereign proved itself all but immune to the latest woes stemming from Banco Espírito Santo this week, as even the bank’s worse than expected results failed to make much of a dent on the country’s secondary yields. But while the outlook for the periphery is bullish, some analysts warned that political risks are rising in Italy.
-
Ireland’s capital market renaissance spread to the very short end of the curve this week, as it sold its largest piece of commercial paper outside its home currency in two years. Meanwhile, the sovereign is also seeking to reduce its near term redemption pile as part of its recovery process after coming off International Monetary Fund and European Union support last year.
-
The UK Debt Management Office raised its largest ever book for an inflation linked syndication on Tuesday when it opened a new 2058 line, despite the deal coming as the summer holidays are in full swing in the UK. The syndication also marks the first time the DMO has printed an inflation linker at a negative real yield.
