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Persistent signs of a burgeoning US recovery over the summer could lead to the FOMC signalling its tapering strategy as early as the August Jackson Hole central bank symposium or the September policy meeting, according to ...
Managed taper anticipated from September, wider EUR/USD XCCY
From Crédit Agricole CIB
With rates markets having stabilised after a bout of uncertainty, the US credit market last week experienced renewed momentum, allowing an array of European banks to achieve stronger outcomes than available in a more ...
Dollar bank capital hits new highs as rates stabilise, overshadowing cautious euro mart
Market
Last week was the busiest of 2021 for subordinated insurance issuance, as AIA, Axa and CNP Assurances hit the market with benchmark trades, with the sector having this year proven stable against the backdrop of rates ...
Resilient credit market sets stage for burst of sub insurance hits from AIA, Axa, CNP
Market
MünchenerHyp issued its first senior non-preferred euro benchmark on Wednesday, a €500m eight year deal that is also its first senior green bond, with the German bank moving to take advantage of persistent demand in ...
MünchenerHyp begins benchmark SNP journey with green first
Market
Deutsche Kreditbank (DKB) became the first bank to sell a euro-denominated senior preferred bond at a negative yield on Monday, after attracting €1.2bn of orders to a €500m five year issue that is the first deal to be ...
DKB breaks senior preferred negative yield ‘taboo’ with GBS first
Market
The euro primary market last week recovered from a lacklustre opening, with financial institutions now able to take advantage of a severe supply-demand imbalance and benign conditions, and subordinated instruments finding ...
Primary execution improves after subdued New Year start, as supply collapse hits home
Market
The US dollar market proved attractive for Yankee and US banks alike in the opening weeks of the year, with FIG issuance far exceeding supply in euros and funding levels proving more competitive across the capital structure. ...
Dollar market goes from strength to strength despite USTs sell-off
News in brief
Abanca opened the euro subordinated space for 2021 with its second AT1 on 7 January, a €375m perpeutal non-call 5.5 trade that attracted over 200 accounts and achieved pricing inside fair value. Alberto de Francisco ...
‘Remarkable’ result buoys early bird Abanca
News in brief
Vaccines look set to offer the world a way out of the pandemic, but the damage wrought by Covid-19 should ensure monetary and fiscal support persist. How will banks and AT1 fare in light of this and the regulatory response ...
2021: A new hope
Focus
Crédit Agricole CIB hosted a web conference themed “Banking turbulences in a Covid world: the regulatory angle”, with delegates hearing from European Central Bank (ECB) supervisory board member Edouard Fernandez-Bollo, ...
Banking turbulences in a Covid world: ECB, SRB & EBA on supervisory priorities
Focus
Bank of East Asia (BEA) issued an almost five times subscribed $650m perpetual non-call five AT1 yesterday (Wednesday), in the latest sign the Asian market is again proving conducive to bank capital after a bout of ...
Bank of East Asia confirms renewed Asian AT1 strength
Market
Nykredit and Crédit Agricole hit the euro AT1 market last week and found conditions even more advantageous than expected, with supply dynamics and relief measures underpinning demand, even if second wave and political risks ...
Euro AT1s prove hits for Nykredit, CASA, as investors overcome cautious edge to pile in
Market
