TD Securities
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Four European agencies, and a New Zealand sub-sovereign found funds in the Kangaroo market this week. Nederlandse Waterschapsbank (NWB) on Tuesday priced a 10 year tap of a Kangaroo bond some 10bp tighter than where the original issue priced in January. Bankers said the pricing was an indication of the sheer levels of demand for long dated Kangaroo paper. -
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A call by US Treasury secretary Steven Mnuchin this week to lessen the capital burden on banks had a bigger effect on US rates than a well telegraphed Federal Reserve target rate rise, creating some breathing space in long end swap spreads. That could ease long dated public sector bond issuance, but with euro market offering enviable duration funding, there may not be a queue of borrowers ready to print, writes Craig McGlashan.
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The US Federal Reserve raised its target rate on Wednesday and MTN bankers are hoping it will keep on a rising path — with floating rate note issuance set to benefit.
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TD Securities has hired a trader to cover the euro SSA and covered bond markets, adding euro capacity to a bank that has focused mainly on dollars and other currencies so far. But SSA bankers warned that if the firm plans to break into the euro primary market, it could face a tough time.
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TD Securities has hired a trader to cover the euro SSA and covered bond markets, adding euro capacity to a bank that has focused mainly on dollars and other currencies so far.
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Kommunalbanken built a doubly subscribed book on Tuesday for a long three year dollar deal that bankers said should give confidence to the market after a similar trade from KommuneKredit two weeks ago fell short of full subscription.
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A pair of SSAs are set to nip in with dollar deals ahead of a US Federal Open Market Committee meeting on Wednesday at which investors overwhelmingly expect a target rate rise — although the strength of that expectation has dipped slightly.
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The European Investment Bank found seven year funds in its latest move to build a benchmark curve in Polish zloty.
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The European Investment Bank found seven year funds in its latest move to build a benchmark curve in Polish zloty.
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The European Investment Bank is looking for seven year funds in Polish zloty curve in its latest move to build a benchmark curve in the currency.
