FIG market struggles as senior flood leaves market oversupplied

After a frantic week of senior unsecured issuance, euro senior volumes for 2015 have already outstripped the entirety of last January. However, the impressive volumes cannot mask problems in the market. Syndicate bankers are nervously whispering about oversupply as the week’s deals trade wider, a problem exacerbated by currency volatility on Thursday as the Swiss National Bank scrapped the currency ceiling on the Swiss franc.