TD Securities
-
Canada should have thought twice before stripping banks of their ability to use senior debt as an ordinary funding tool. -
NRW.Bank hit screens on Tuesday for its first dollar benchmark of the year, ahead of what will be a closely watched Federal Open Market Committee meeting on Wednesday.
-
-
Nestle, Électrcité de France and BP have led a stampede to the dollar market ahead of an expected rate hike by the Federal Reserve next week, as credit markets shrugged off trade wars between the US and China.
-
Public sector borrowers rushed into what is likely to be the last window for dollar issuance for a few weeks, removing some of the price tension they had enjoyed in what had been an undersupplied currency so far this year. That meant pricing correctly involved fine margins — although most deals made it through happily.
-
The World Bank cleared $4bn in the dollar market on Thursday but with spreads very tight, SSA bankers are warning that there is still little margin for error in the currency.
-
Dollar investors gave public sector issuers something to think about on Wednesday, as a pair of SRI bonds had very different receptions. One aggressively priced deal struggled to reach full subscription while another offering some concession grew by a half. World Bank is up next in the currency, though in conventional format, and bankers believe the trade will indicate the market’s direction.
-
-
-
Yankee financials led the charge in the dollar market this week, as investors showed a strong appetite for high-grade credit.
-
The African Development Bank and Bank Nederlandse Gemeenten kept the positive momentum going in the dollar SSA market this week with blowout five year benchmark trades on Thursday.
-
The African Development Bank is taking indications of interest for its second benchmark of the year, which could complete its syndicated funding programme for 2018.
