Euro
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◆ Order book holds as premium paid ◆ Arb versus dollars considered ◆ 'Highly granular' buyers -
Issuers will probably have to ‘re-establish’ new issue premiums at a higher level
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Renault's car financing arm extends duration at a tighter spread than where it issued similar capital last year
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◆ Wessex Water and Bunzl in sterling ◆ Manchester Airport and Mondi in euros ◆ Market shrugs off Friday’s weak non-farm payrolls number
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Covered and unsecured issuers await greater stability, despite positive signs in secondary
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Core SSA spreads suffer as EU-level funding expected to jump, but concerns also loom over Bunds and other govvies
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Big orderbooks and zero average new issue concession paid belies chaos in rates market
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Some borrowers think the risks outweigh the benefits
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Market becomes harbour in geopolitical storm with borrowers tipped to set sail
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But low spreads on bonds posing stiff competition for loan market
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Issuer makes saving versus home currency and discovers ‘extraordinary’ real money demand
