US dollar

◆ Issuers add tier two debt amid lower relative cost to senior layer ◆ Danske Bank prints in euros at no premium as Nordea said to have garnered largest size locally ◆ BNPP, HSBC and Westpac target dollar market

Banks celebrate Trump win amid hopes of looser regulations

Dollar corporate spreads hit tightest level since 90s despite rates leaping

No tightening in sight but stability hopes rise as market digests US and German political upheavals. Next EU deal to offer direction

Old Lady delivers 25bp cut and adjusts inflationary forecast after UK budget

Victory for Donald Trump sparks debate over how ECB will respond to tariffs

Rates market braces for higher yields and steeper curves

US FIG issuance moves unperturbed across capital structure just days before election

◆ Opportunistic move pays off ◆ More balance brought into euro curve this year ◆ ‘Incentive and motivation’ to improve spreads

Final high grade dollar deals slip in before US election

Euro loans could outperform despite offering lower coupon payments than in dollars

We would welcome your feedback on the outlook for the SSA market