Top Section/Bond comments/Ad
Top Section/Bond comments/Ad
Most recent
'Dead quiet' few weeks will benefit issuers as excess bonds need absorption before issuance starts to ‘fire on all cylinders’ from August 17
Green investors buy when everyone else stops, giving issuers one last pricing lever — perhaps to cross a line none of them wants to reach
◆ Scaled-back bank treasuries snap up rare seven year floater ◆ Dollar FRN drought eases as World Bank extends curve ◆ Floater lands inside fixed rate funding levels
◆ New sterling five year lands after BoE Level B upgrade ◆ Dollar FRN 'snowball' as $2bn raised ◆ Callable issuance steady as zero structures cool
More articles/Ad
More articles/Ad
More articles
-
The chances of a profound transformation of financial markets to equip them to fight climate change rose this week, when the European Parliament adopted a bold set of policies that would require investors, banks and companies to take into account their impacts on the environment and society. Bonuses would be linked to sustainability targets. -
Nederlandse Waterschapsbank (NWB) will look to fill the €1bn-€1.5bn it has left to raise this year with its annual water bond benchmark and potentially a short end benchmark. That is in keeping with the wider SSA market, where bankers expect socially responsible investment (SRI) issuance to form the bulk of this year’s final trades.
-
Export Development Canada (EDC) added to a record breaking year for non-UK SSA sterling issuance as it printed a £500m floating rate note (FRN) this week. Despite the very strong year for the currency, some trades have struggled in recent weeks — but FRNs such as EDC’s appear to be the exception. Some in the market put that down to concerns over Brexit negotiations.
-
Supranationals found heavy demand from investors for privately placed taps of outstanding dollar and euro notes over the past week, with Asian Development Bank printing particularly heavy volumes.
-
After a year during which euro issuance from SSAs has far outstripped that in dollars, thanks to the vagaries of the euro/dollar basis swap, a German agency was able to nip in to a funding week shortened by US elections and central bank meetings to score a strong result with its sole dollar benchmark of the year.
-
The European Financial Stability Facility finished off its 2018 issuance this week with what was likely the last jumbo euro benchmark of the year. The deal was solid, but SSA bankers warned the euro market feels “tired”.
