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Chubb leads another busy week for foreign borrowers as domestic names also keep supply flowing
◆ Canadian outfit moves early ◆ Deal priced at a narrow spread to top peers ◆ Issuer hits funding target but open to opportunities
‘Strong book quality’ allows $4bn deal to be priced tight and trade tighter
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Meanwhile, corporate issuers pile in after Roche deal
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Some EGBs could benefit from the transition to riskier assets
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More steepening expected for both govvie and swap curves for rest of 2025 as crucial date for Dutch pension reform draws near
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Short dated vanilla paper led the flow in dollars and euros this week, with local currency clips adding breadth
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Large new issue premiums 'not needed' as secondary spreads keep tightening
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◆ Fast money acts quick ◆ Bank treasuries weigh ASW levels ◆ 'Real market opener' still awaited
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