Atanas Dinov

FIG

Downtrend financial market chart, red arrow, dices cube with the word STOP and one-euro coins. Selective focus

FIG execution to favour higher ranked deals in a week offering 'no prizes for heroes'

More strategic deals lower down in the capital stack may be delayed for a 'market that's not tasting blood'

Atanas Dinov, March 31, 2025

FIG

Yankee banks print dollars before volatility strikes

Canadian banks cross the border and UOB makes rare return to the US before tariffs imposition

David Rothnie, March 27, 2025

Covered Bond Analysis

Resistance awaits as covered bond spreads close in on SSAs

The gap is closing thanks to covered undersupply but there will be a floor as relative value starts to make little sense

Frank Jackman, March 27, 2025

Corporate Bonds

Trump, Donald in early 2025 from Alamy 27Mar25 575x375.jpg

Credit issuers make most of last week before tariff attack

Successful corporates and FIG bonds belie move to ‘higher volatility regime'

Mike Turner, March 27, 2025

Regulatory Capital

ASR adds RT1 to insurance capital spree as VIG prints sustainable tier two

◆ Week-long flow of insurance capital sales in euros and sterling ◆ ASR goes for a longer and tight RT1 ◆ Both issuers using proceeds to buy back capital notes

Atanas Dinov, March 26, 2025

Regulatory Capital

Legal & General issues tier two after near-five year hiatus

◆ Sterling market embraces diverse set of insurance sector deals ◆ L&G underlines different current dynamics in tier two and RT1 asset classes ◆ Proceeds to go for buyback ahead of October call

Atanas Dinov, March 26, 2025