US dollar
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Issuers target both the short and the long ends of the dollar curve -
◆ UK bank shows affinity for tier two dollars ◆ Improved US market lures foreign bank capital issuers ◆ US market has great depth
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Dollars and Aussie dollars offered more competitive funding
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Italian lender pushes out to print 31 year non-call 30 note
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Market paying close attention to EU issuance plan
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Aside from its sheer scale, the US offers strategic funding that should be seized by European banks now that the market has reopened
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◆ Secondary rally shows appetite for risk ◆ Issuers target quick intra-day execution before CPI ◆ HSBC starts by luring Asian demand
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CH Guenther pays a narrower OID as euro market becomes more competitive against the dollar
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Wave of deals comes after some borrowers had shunned dollars for months or years
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◆ Improved tone lures local lenders in size ◆ Yankee arb possible again ◆ European trio steps up Yankee printing on Thursday
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SSA trio keep dollar investors busy with two, five and 10 year bonds
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Westpac, CIBC and TD have also found sizeable dollar funding
