Currencies
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Akademiska Hus and Pfandbriefzentrale look for funding in Swiss francs -
Bankers say Budget may determine if FIG issuers print in sterling through December or hold off until January
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Pair enjoyed strong execution and tight pricing as US high grade credit remained resilient in the face of a sell-off in equity markets
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Issuance was front-loaded into the first three days of the week in the FIG dollar market as issuers got ahead of Thursdays US non-farm payrolls report
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Strong inflows help corporate issuers shrug off wider volatility
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Rise of central bank and official institution demand bolstering 'super hot' SSA market
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Six covered bonds were issued in three days this week but there is uncertainty over the pipeline from here
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◆ €500m 6NC5 senior priced at 90bp over mid-swaps ◆ Concession debated ◆ Rounds out a successful year for Greek banks
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◆ Book peaks at almost four times covered ◆ No worries over repeat visits ◆ Chorus offers rare Kiwi corporate paper
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◆ Final book under €800m ◆ 'Low single digit concession' ◆ 'Trickier' for German LBs in senior than covered
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◆ New issue premium estimated ◆ Partial pre-funding ◆ Baden-Wuerttemberg 'through fair value'
