UK Sovereign
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China’s Ministry of Finance has confirmed it will issue an offshore renminbi bond in London with the trade expected to launch soon. -
The Boston Retirement System (BRS) is suing five banks and four traders for allegedly conspiring to manipulate bid-ask spreads on SSA debt traded in the secondary market, increasing their profit at the expense of their clients.
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The futures-implied probability of a US rate hike in June surged this week after hints by Federal Reserve officials.
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The prospect of the UK voting to leave the European Union has become the foremost focus of fund managers and volatility traders, even as the latest poll on Brexit gave the ‘Remain’ campaign an 18 point lead over ‘Leave’ — prompting the pound to rally to its highest point against the dollar since May 3.
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The UK Debt Management Office could launch a new five year conventional Gilt in the second quarter of its 2016-17 financial year and is seeking comment from investors and banks on the proposal.
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The UK Debt Management Office has picked the banks that will run its next syndication, scheduled for the week beginning May 23.
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China’s Ministry of Finance (MoF) is set to issue its debut offshore renminbi (CNH) government bond in London as early as this month, with one Chinese bank and one foreign bank mandated on the deal.
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The UK’s Debt Management Office highlighted that the demand for ultra long end Gilt issuance remains as strong as ever, selling a £4.75bn 50 year tap via syndication from a final book size of £21bn.
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The European Investment Bank sold a £500m tap of its February 2019s on Wednesday, taking sterling issuance from public sector borrowers to its highest level for nine weeks.
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A trio of taps and a UK Gilt syndication this week have demonstrated that fears of the country’s June 23 referendum on EU membership disrupting the market may be misplaced. Indeed, investors have expressed greater worries about risks elsewhere in Europe.
