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◆ No book update for €500m no-grow deal ◆ Surprising lack of demand for defensive trade ◆ Investors continue to cherry pick in big week for supply
◆ Spread to Land Hessen key to pricing ◆ Leads thought long and hard on whether to tighten ◆ 1bp move the right amount as book grew
◆ Three German states brought a new Joint Länder bond ◆ No book update, KfW curve guides pricing ◆ Flemish Community prints new 15 year
Second digital project won’t be the issuer’s last, Länder peers may be ‘interested and willing’ to join in
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‘Very normal market’ despite ongoing war and volatility to support another wave of new issues
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◆ Province's Greg Horan and Jason Lewis on new £1bn six year line ◆ Captured first-mover advantage ◆ Last minute pivot from US dollars to sterling paid off
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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
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◆ Busy couple of weeks the Spanish public sector ◆ Madrid, Andalucia also printed, Basque next ◆ 1bp of NIP paid on slightly softer day
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◆ Smooth return is well telegraphed ◆ Pricing behind benchmark ◆ Label's diminishing edge
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◆ Books reach more than £2.5bn for £1bn print ◆ Safe-haven Canadian credit in demand ◆ Light supply leaves cash waiting