Euro
-
Supplementary budget could see €1bn-€2bn of additional borrowings later this year -
Deals can be done as long as pricing is reasonable, said bankers
-
◆ Prefunding discussions to pick up in the autumn ◆ Elevated spreads are deterring supply ◆ US election will dictate demand
-
Primary Market Monitor data from last January and August-September 2023 could give clue to market reopening later this month
-
Bloc aims to launch repo facility in early autumn as part of efforts to burnish its sovereign-like borrower credentials
-
◆ Savings banks interested in novel technology ◆ ‘Vivid’ secondary market anticipated ◆ Lack of LCR and ECB eligibility a hindrance
-
◆ Some bankers surprised at scale of moves ◆ Issuers may reconsider long-end plans ◆ Capital demand may persist
-
At least one potential deal in Europe has been sidelined due to fears about the US economy
-
Central bank rate cuts could unlock asset rotation into riskier parts of the capital structure
-
Autumn funding will start early and fast, but geopolitical risk abounds
-
Early refinancing is adding more pressure on already tight corporate spreads
-
Agency wraps up a busy July and heads into the autumn with €5bn-€6bn to fund
