Bank of England
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◆ Tightest level since IFC's three year print ◆ Investors recycle redemptions ◆ Programmatic and pragmatic approach -
◆ Choice of tenor similar to equivalent syndication last year ◆ Redemptions to support demand ◆ Bank of England out in dollars
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Little green men could be closer than they appear
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Investors look to short-dated sterling as more rate cuts from BoE expected
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Novel exercise welcomed as a way of enhancing transparency and accountability in lightly regulated sector
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Wholesale and retail CBDCs are moving forward in EU and UK, but there is more push-back on retail version
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◆ Bank of England launches new dollar programme ◆ Choice of five year discussed ◆ Calculating a new issue premium
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Both decisions met market expectations, despite prevailing economic uncertainty
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◆ Issuer takes home more than the usual $2bn ◆ Single-digit spread to US Treasury at landing ◆ Dollar investors still attracted by spreads to swaps, yields
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Old Lady delivers 25bp cut and adjusts inflationary forecast after UK budget
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◆ Report examined if eight major UK banks could enter resolution safely ◆ One bank singled out for a ‘shortcoming’ ◆ ‘Areas for enhancements’ identified in five
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Tiering the Bank of England’s deposits has its place — but don’t go and zero them all
