United States
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◆ General Motors brings dual currency trade ◆ Ford ups size on 5.2 year euro bond ◆ Both print euro tranches inside dollar curve -
◆ Fourth largest deal from any corporate in euros ◆ Concession needed to lock in size ◆ Marketed alongside debut Canadian dollar trade
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US bank eyes one of the tightest US preferred resets as BBVA goes for subordinated, senior combo
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No deals were reported on Monday, but supply could restart the next day
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◆ French pharma prints along liquid parts of the curve ◆ Two shorter tranches land flat to fair value ◆ Danaher showed demand for high rated issuers earlier in the week
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US domestic institutions take centre stage after global banks' big funding round
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Bot claims funding is ‘cheaper than peers who borrow from independent banks or credit funds’
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Foreign banks took advantage of more stable bond market conditions amid a funding splurge by US banks after reporting bumper first quarter earnings
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◆ US bank raises close to €2bn-equivalent in tier two debt ◆ Issuer attracts lots of attention and orders ◆ Market participants praise 'cool' deal
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Foreign bank issuers secure tight pricings
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◆ General Mills debuts €1.7bn Reverse Yankee hybrids ◆ Engie raises €2.06bn-equivalent across euros and sterling ◆ Sub/senior spreads stay modest on Engie's euro tranches
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Tweaks to trading book rules will be next stage of competition
