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Smaller orders, missing hedge fund bids as market exits ‘white-hot’ phase and soon to switch to holiday mode
◆ Japanese agency squeezes out concession on $1.5bn 10 year ◆ Zero new issue concession ◆ Flat curve, longer duration
Head of funding Jochen Schader says strong promotional lending has pushed the 2026 target above €15bn, as the agency caps its dollar programme before the summer
Issuer leaves more NIP than earlier this year, as order sizes shrink after busy May and June
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Banks divided on whether to say how much of ESG bonds go to sustainable funds
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Public sector issuers are set to bring meaningful sizes and longer maturities across dollar, euro and sterling markets
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Primary market braced for 'very busy' next couple of weeks
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Official institutions and agencies drive demand for Central American development bank
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Pushing out along the curve has helped the issuer score the tightest supranational and agency sterling pricing in 2023
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As public market issuance slowed ahead of central bank meetings, an opportunity for MTN funding appeared