Weekly Covers
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A strong year so far for the public sector as issuance jumps 11.5% year-on-year while new issue premiums compress -
◆ Dealer inventories hinted at demand ◆ IFC takes different approach from IBRD ◆ Deeper dollar swap spreads make issuers eye sterling
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◆ Last euro non-preferred issued more than two years ago ◆ Debate on premium paid with leads spotting 'at least' a 5bp concession ◆ Final spread still a tight absolute level
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Dutch tech investor nets €750m euro bond ◆ Order book swells to €3.6bn ◆ Spread tightens by 30bp
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Fair value for deal is a little bit above the 7% yield area, said leads
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◆ Bank treasurer speaks following after debut tier two in euros ◆ Deal reintroduces Polish tier two debt in the public euro market ◆ mBank next plans new SRT and SNP refi
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◆ Strong bids for euros and German bonds on show ◆ Deal came inside of secondary, pricing target ◆ €3bn left to do, another euro deal 'most likely'
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The trade will be below benchmark size
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◆ Toyota and Logicor drum up strong books in euros ◆ Volkswagen proves sterling investors still looking to allocate funds ◆ Liquidity trumps all
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Misconduct rules only outcome of broader consultation including diversity and inclusion review
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Increased residential lending demand could help support issuance
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US fiscal woes across keep investors on edge as sensitivity to public debt grows
