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Market welcomes the move, but the tone around non-UK covered bonds is set to remain 'cautious'
Duration on the cards for senior funders, with covered bonds set to skew short
PSHypo’s spreads near unchanged to pre-‘liberation day’ levels
Sub-sections
Sub-sections
Deal reviews
PSHypo’s spreads near unchanged to pre-‘liberation day’ levels
◆ BPCE attracts biggest book since February ◆ Long five year appeals to wide range of investors ◆ Pick-up paid over secondaries and OATs
◆ Book holds firm throughout pricing ◆ Recent comps lead to different fair value assessments ◆ 3% coupon appeals to high quality investors
◆ 10 year 'surprise' reopens euro covered market ◆ Concession needed to seal the deal ◆ Trade lands through OATs
Opinion
When it seems as if it is only short-term survival that matters, the best bankers don’t lose sight of the distant horizon
Flash signs that financial markets were heading for a funding crisis are what spooked traders
As bank chiefs push for a full-time return to the office, it raises the question of whether this is about productivity, or is it a retreat to the old habit of equating presence with performance?
No reason for banks to fear going tighter still
Analysis
Market welcomes the move, but the tone around non-UK covered bonds is set to remain 'cautious'
Duration on the cards for senior funders, with covered bonds set to skew short
Supply expected to skew shorter after recent borrowers opted for the long end
Intraday alll the way as eurozone and non-eurozone covered issuers consider market
More articles
More articles
More from covered bonds
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Covered bond editor Frank Jackman joins George Smith to discuss Paragon’s innovative buy-to-let covered bond, before George and regular podcaster Tom Hall discuss the prospects for UK bridging RMBS, Italian ABS pricing and capital treatment of subscription lines -
Estonian lender Coop Pank could also make its covered debut on Thursday
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Banks have plenty of buy-to-let assets on their balance sheets; issuers should follow Paragon's lead for as long as investors and regulators allow
