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Five and 10 years more appealing, with ultra-long spreads deemed 'rather costly'
◆ Sterling covered market on a 'hot streak' ◆ Strong demand pledged, including international interest ◆ Offshore sterling covered spreads compress
◆ Book grows after spread set ◆ Premium offered to investors ◆ Recent sovereign downgrade not a concern
Sub-sections
Sub-sections
Deal reviews
◆ Sterling covered market on a 'hot streak' ◆ Strong demand pledged, including international interest ◆ Offshore sterling covered spreads compress
◆ Book grows after spread set ◆ Premium offered to investors ◆ Recent sovereign downgrade not a concern
◆ A bank advised Nationwide of strong fixed sterling bid ◆ RMBS was another option ◆ 'New accounts' participated in deal
◆ Rival bankers call deal 'a great success' ◆ Dollar spread vs euros 'swung back to issuers' ◆ Cost of carry vs locking tight spreads
Opinion
◆ Why buy bonds when spreads are so tight ◆ Using tech to unearth new economic signals ◆ Playing the shifting relative value pitch
Diversifying demand... coming inside euros... landing flat to dollars... the UK market looks tasty
Why remembrance of things past will soon include the traditional relationship between French covered and sovereign bonds
The UK will do better with tactical retreats on regulation than risking being outflanked by the US's wildcat banking regime
Analysis
Five and 10 years more appealing, with ultra-long spreads deemed 'rather costly'
Scarcity value helps to drive premiums down and cover ratios up
Spread convergence between EU and non-EU covered bonds will take time, but is expected
Regulator in favour of equivalence in long awaited report
More articles
More articles
More from covered bonds
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◆ Deal first in sterling from Australia since late 2024 ◆ Trade prices flat to euros ◆ October redemptions could drive further supply -
◆ Almost €700m of orders lost… ◆ …but deal still prices tight ◆ Trade Commerzbank's third five year this year
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◆ New deal offers half the spread of the last one ◆ Investors pile into rare trade's book ◆ Pick up provided over govvies
