Sterling

◆ New sterling line, not headlines ◆ When the numbers finally work ◆ Three pillars hold the book

◆ Forth FIG issuer to bring sterling SNP this week ◆ Attractive pricing versus euros ◆ Dutch bank 'the type of credit that helps you sleep at night' says lead

◆ Week's third FIG sterling deal to take advantage of opportunistic Gilts arb this ◆ Issuer's second sterling deal this year ◆ Follows multi-tranche yen issuance across the capital stack

◆ Books reach more than £2.5bn for £1bn print ◆ Safe-haven Canadian credit in demand ◆ Light supply leaves cash waiting

◆ Issuer raises large size for the currency ◆ Pricing break through 100bp level ◆ Book stays almost intact despite macro volatility

◆ Issuer takes advantage of attractive sterling funding levels ◆ Printing during UK school holidays no problem for 'very well loved name' ◆ Sterling FIG senior undersupplied versus last year

Less frequent issuers making the most of market with strong bid for yieldy assets

Issuers encouraged to squeeze into bond market before mid-June by-election

◆ Bank refreshes own record from last September ◆ Deal's non-call 10 period unusually long for the sterling market ◆ Lack of sterling tier one supply attracts 'huge book'

◆ First FIG sterling deal in a month ◆ 'Staggering' £4.2bn book from global accounts ◆ Door open for future sterling issuance

Higher dollar yields dampen some of the callable demand

Rates and credit under pressure as battle to be UK prime minister looks set to heat up