Euro

◆ French govvie performance to support sentiment ◆ Recent French covered bonds spotted tighter ◆ Fair value considerations revealed

◆ Friday execution seen as precursor of issuers' keenness to print before US vote ◆ Handelsbanken issues rare green tier two with no new issue premium ◆ Swedbank comes close to fair value, if not a touch above, in first euro senior non-preferred of 2024

More Friday deals a possibility as volumes are expected to pick up after the US election

Bund-swap spreads are heading to uncharted territory with little to stop them, which could cause a headache for SSA issuers

Abnormal trend expected to continue posing question for FIG treasury officials

Investors would rather buy SSAs than covereds, say bankers

◆ Deal priced at same spread as Baden-Württemberg ◆ Pricing in high-20s versus swaps is new reality ◆ Länder spreads versus KfW remain intact

Market participants are invited to give their views on the outlook for covered bonds next year

Irish cladding company drums up €3bn of orders weeks after Grenfell Inquiry calls company 'dishonest'

Supply eased in recent weeks after late summer burst

◆ Deal's reception 'exceeded all expectations' ◆ Final €2.75bn book a large one for Länder sector ◆ Curves of other German states and KfW referenced

◆ UK lender deal beats expectations amid limited competing supply ◆ Issuing in euros was cheaper than sterling ◆ Italy's BFF Bank returns to bond market but pays more than in April