TD Securities
-
The Inter-American Development Bank and KfW drew strong demand in the dollar SSA market on Tuesday, with the former issuing just the fourth 10 year dollar benchmark from an SSA of the year. -
Bankers are preparing to hit the ground running when they return from the Labor Day holiday next week primed for a glut of high grade corporate supply.
-
The US corporate bond market continued at a strong pace this week, ignoring the lure of the beach that sees its European counterparts' new issue flow slow to a standstill in August. More than $22bn of bonds were sold in the first three days of the week and around half of that was raised by United Technologies Corp.
-
-
World Bank is following Fannie Mae’s trailblazing issue of Secured Overnight Financing Rate (SOFR) floating rate notes after mandating banks on Monday for what will be the second ever trade to reference the rate.
-
The International Finance Corp drew one of the highest BondMarker scores of the year so far with its return to five year dollars after two years away. The trade came in a week of few, but very well received, deals, with the European Stability Mechanism scoring its highest average score of 2018 so far.
-
A pair of taps from the Council of Europe Development Bank (CEB) and KfW on Tuesday — ahead of the Bank of England’s expected rate rise later this week — ensured the non-UK sterling SSA market remains on track for a record year of issuance.
-
-
SSA issuance in Canadian dollars is enjoying a renaissance, with a pair of deals this week taking July to a record monthly volume and a tenor last seen several years ago returning.
-
Public sector borrowers could beat the summer slumber if they bring dollar deals, said SSA bankers — and they may be rewarded for doing so, with conditions unlikely to be able to get better than this week’s.
-
The World Bank sold a sustainable development bond in Canadian dollars on Thursday that took issuance in the currency from non-Canadian SSAs in July to its busiest month ever.
-
Fannie Mae on Thursday ensured its name would be included in future financial textbooks on the replacement of Libor as it priced the first ever floating rate notes linked to the new Secured Overnight Financing Rate (SOFR), drawing a wide range of investors from money funds to state treasuries in the process.
