US dollar

US dollar market helped the province to raise an equivalent of five to six domestic bonds

Issuer defies risk aversion to duration in 'narrow window'

Investors pounce on Société Générale and UBS sales after yields rise, then rates rally to soothe fears

◆ First AT1 for nearly two months after volatility ◆ Priced flat to or inside fair value ◆ Head of funding says deal could have been bigger

Issuers take every opportunity to print as market turns tougher

◆ 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

Sovereign led a busy week for SSA issuance in dollars with $9.25bn raised

◆ Deal marketed at a price to sell ◆ Structure suggests UBS is optimising funding volume ◆ Reluctance to buy Swiss AT1s remains but fixed income markets are recovering

◆ 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

New US investors are coming to the table as resurgent volumes are eyed

US bank’s $6bn two-part opco/holdco deal, joined by Santander and Standard Chartered Yankees, pushes October FIG volume to $54bn

Issuers face wider initial pricing and weaker bookbuilding