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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
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Exceptional moves in rates could impact relative value across the FIG capital structure -
◆ Deal the first publicly placed UK covered bond secured on buy-to-let mortgages ◆ Saving spotted versus RMBS ◆ Low double digit pick-up needed over prime UK paper
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Credit market conditions strong as rates demand slows
