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Rachel Reeves's first Budget needs to pass the Truss test and avoid spooking the Gilt market

◆ German bank brings dollar AT1 after June's euros print ◆ Potential UniCredit takeover partially factored into pricing ◆ Deal offers premium to European peers

Borrowers should show more discipline if they don’t want to risk undermining all the investor work they have done

Uzbek bank eyes bigger, brighter future in capital markets

◆ Issuer starts wide of EU to attract demand ◆ 'Solid' backing for longest covered bond since June ◆ Has to leave 'elevated' premium

It’s who buys the bond, not how much they pay that counts

First bank deal from the country since a spate of brutal restructurings at other banks in 2009

◆ Eurobank’s senior green debut becomes largest Greek bank bond in recent memory ◆ After peer Piraeus issued biggest capital deal at lowest yield ◆ Deals priced versus swaps on the back of improved investor perception

Landmark report addresses specific areas, and in doing so it provides the beleaguered market with a foundation for change

UniCredit has bought 9.9% of Commerzbank partly through a block trade, founder sells his Jet2 stake and natural resources company raises capital for growth M&A

◆ Sovereign takes a ‘totally crazy’ book ◆ Central bank policy meetings created a helpful backdrop ◆ Long maturity offered ‘attractive entry point for investors’

Supranational issuer finds rousing reception in dollar market while other SSAs struggled in euros