Sterling

◆ Spread tightened by 5bp ◆ Banker put fair value just inside 58bp ◆ Canadian banks continue strong start to year in covereds

◆ Supranational was 'hesitant' to print on Monday ◆ New issue concession estimated ◆ Timing of cross-currency swap execution

◆ Investor appetite for five year SSA sterling paper remains strong ◆ New issue concession estimated ◆ SSA sterling volume for January ahead of last year's full month total

Fahy will also lead asset-based finance origination

◆ Attractive yields allow for tight spreads in sterling ◆ Manchester Airport flies in with £300m long 10 year ◆ Further sterling supply could follow

◆ Second French FIG sterling deal of the week spotted pricing inside euros ◆ Fourth currency of the year for BFCM ◆ Crédit Agricole marketing Samurai after printing in multiple other markets

The issuer made a swift return to the primary market after its first dollar Global of the year to take advantage of the 'depth and strength' of the sterling market. A euro ESG bond is still on the agenda

◆ Spacing out of trades has 'not been a consideration' ◆ Bank treasuries grabbing spread over asset swaps ◆ Central bank interest 'higher than previously'

◆ Largest book of the year so far for a sterling deal ◆ Minimal attrition on reoffer ◆ Priced through issuer's euro curve, lead says

Banks 'were telling us that everything works,' says CEB's Anne Flori

◆ Solid IOIs helps Friday execution ◆ Trade the fourth sterling FABN deal this week from a US insurance company ◆ Issuer saves versus its dollar curve

'Records broken left, right and centre' as redemption money and pent-up demand flood new issues market