United States

French deal lands close to its euro curve

Long end of curve proves to be the strong end

Asset class war breaks out as FIG market complains Reverse Yankees are stealing investors away from their deals

Issuer takes size at a competitive price on first foray into Swiss francs

◆ US companies Pfizer and McDonald’s raise euros ◆ Pfizer pays zero concession but some thought it looked cheap ◆ McDonald’s cooks up almost €4.7bn book at peak

Federal Reserve kept rates steady but only one company emerged after FOMC meeting

◆ Handful of European banks go Stateside after quarterly earnings ◆ Some revisit dollar funding despite it not offering best relative cost ◆ HSBC goes for size as its triple trancher surpasses BofA's $5bn print

◆ Triple tranche trade finds mixed demand ◆ Shortest tranche lands inside fair value ◆ 'Significant' demand for high rated short end to park cash

Google owner returns to dollar market for first time since 2020 for joint tightest 30 year spread ever

Fiserv and Visa print across the curve with more tipped to come

◆ Books bulge for three year deal ◆ Sizes and new issue concessions reflect demand differences ◆ Trade comes amid major data dumps

◆ BofA taps market with a perp in post-earnings appearance ◆ Varied issuance from US and Japanese insurers ◆ Citi the only large US bank not to have issued in dollars after quarterly results