UK Sovereign
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BCS Global Markets, the investment services division of Russia’s largest independent broker, has hired a new treasurer. -
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The UK Debt Management Office raised £6bn with its first syndication of the financial year. Although one investor said the spread was more generous than he expected, the trade drew praise for the smoothness of its execution.
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The UK Debt Management Office reduced its borrowing programme on Friday following a lower funding requirement for its previous financial year than it had originally expected.
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DirectBooks, a platform for primary bond issuance initiated by a group of banks, has added the ability to handle euro and sterling deal announcements as well as a new senior member of staff to run its European business.
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The UK Debt Management Office has selected the banks to lead the first syndicated transaction of its 2021/2022 borrowing programme.
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Government bonds around the world were hit by a wave of selling on Friday morning without an obvious trigger from new data or central bank policy updates. However, traders believe a heavy supply schedule and news of increasing deficits are likely to blame.
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The UK issued its second ever sukuk on Thursday, raising more than double the amount it had with the first in 2014.
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The UK Debt Management Office on Monday chose the banks to lead the sale of its second sukuk via syndication. Like the sovereign’s debut sukuk in 2014, none of the UK’s Islamic banks are included on the mandate.
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The SSA market on Thursday was digesting the result of the previous night’s Federal Reserve meeting. Fed chair Jerome Powell took a dovish stance in spite of high economic growth, and some market participants believe that the strengthening inflation outlook could hurt demand for bonds at the long end of the curve.
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The UK Debt Management Office has published its Gilt operations calendar for the first quarter of its 2021/22 financial year.
