Société Générale

◆ SocGen and especially UBS garner huge demand for high yielding AT1s ◆ Red-hot interest suggests more European banks could issue in subordinated Yankees ◆ HSBC and BBVA raise $2.75bn in tier two

◆ Deal is French insurer's first bond since 2014 ◆ Strong demand for higher yielding assets results in pricing close to fair value ◆ Book reaches around €3bn

◆ Better market mood suggests more FIG capital issuance on the cards ◆ BBVA goes for longer tier two in dollars ◆ Some suggest UBS will issue AT1 as early as Wednesday

◆ PIC preparing to take £200m new net capital after maxing tender offer ◆ Sogecap takes the road for first deal since 2014 ◆ Meanwhile parent SocGen calls dollar AT1

Italian 10 year government bonds outperformed Germany

French agency is keen to issue €4bn-€5bn of green and social bonds next year

More SSAs eye deals but new week is set to be quieter than last

◆ French bank issues SP yen bonds for the first time in at least four years ◆ Deal attracts investors previously unable to buy ◆ May form a template for other European banks

The public sector’s rush to raise dollars is set to continue on Wednesday

KBN, OeKB, Rentenbank and AFD to tap currency amid uncertainty in euros

Bankers thought new deal as ‘very successful’ though ‘volatility concession’ was needed

New week, new challenge as war in the Middle East adds to uncertainty