Weekly Covers
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New issue premiums to be small or negative
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Core Europe to lead the charge but without German issuers
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◆ Bank issues two deals a day after record earnings ◆ Week's fourth euro tier two ends with largest demand ◆ Earlier senior bond achieves highest-ever book for an Australian dollar credit trade
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Large new issue premiums 'not needed' as secondary spreads keep tightening
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Belly of the curve likely to be most active, but anything from three to 10 years is doable
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After two weeks of snoozing, the market is about to kick off its boots and get running
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Deal is the second largest syndicated loan for a CEEMEA sovereign in euros this year
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◆ Dutch bank acts more generously than earlier Nordic duo ◆ Deal offers higher absolute spread and new issue premium ◆ Investors like what they see and keep increasing orders
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HQLA investors have reallocated away from covered and into SSAs
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Sovereign aspires to stay active in euro market to fund foreign reserves and set benchmark for Icelandic issuers
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Major deals needed to draw attention back to sterling as billions flows out of IG funds