US dollar

Company acknowledges challenging road ahead amid massive $35bn raise

◆ RBC leads European banks to funding in the US ◆ Once JP Morgan starts the third quarter bank earnings season local FIG bond wave could materialise ◆ This could keep market busy until US election

Issuer-friendly mismatch in supply and demand masks the difficulty of timing the market

◆ Issue takes large size from single tranche ◆ Tight US Treasury spread is expected ◆ How much tighter can issuers go?

French political risk, US economic data and EU supply to set tone in public sector market

Busy streak of capital issuance has disgruntled some investors, but bank issuers still have upper hand in a rate cutting cycle

◆ September was second busiest month for FIG issuance in 2024 ◆ US insurers raise debt ahead of bank earnings ◆ Banks set to print from second part of October

Oil refinery owner aiming to aggressively pursue net zero

◆ German bank brings dollar AT1 after June's euros print ◆ Potential UniCredit takeover partially factored into pricing ◆ Deal offers premium to European peers

Loan pricing falls for commodity company

Banks are looking at next five weeks to raise anything from deeply subordinated capital to senior debt

◆ Insurance companies continue to pump tier two capital this week ◆ Banks opt for the most subordinated debt funding in dollars ◆ Small Smaller French insurer receives 8.8 subscription ratio despite French assets widening