US dollar

Massive market swings make analysing new issue premiums a challenge

Hot market conditions encourage pre-funding, amplifying borrower dilemma ahead of busy January

HSBC leads Yankee charge as banks took advantage of tight spreads to bring forward 2025 funding plans and fulfil some of their riskier commitments

◆ Deutsche prints popular €1.5bn deal as investors fight for higher absolute yield ◆ Yield chase prevalent in dollars a day after return of tier ones ◆ SocGen, NatWest market dollar AT1s

◆ Issuers add tier two debt amid lower relative cost to senior layer ◆ Danske Bank prints in euros at no premium as Nordea said to have garnered largest size locally ◆ BNPP, HSBC and Westpac target dollar market

Banks celebrate Trump win amid hopes of looser regulations

Dollar corporate spreads hit tightest level since 90s despite rates leaping

No tightening in sight but stability hopes rise as market digests US and German political upheavals. Next EU deal to offer direction

Old Lady delivers 25bp cut and adjusts inflationary forecast after UK budget

Victory for Donald Trump sparks debate over how ECB will respond to tariffs

Rates market braces for higher yields and steeper curves

US FIG issuance moves unperturbed across capital structure just days before election