The future of LIBOR; transaction based?
Second Position Paper of the Evolution of ICE LIBOR....
Euro Commercial Paper Outstandings Increase by USD2.51bn in Latest Week
The amount of outstanding Euro commercial paper (CP) and certificates of deposit (CD) increased in the week ending July 29th, according to CMDportal data. Outstandings increased by USD2.51 billion to USD865.81 billion during the week. Sovereign, supranational and agency CP ...
Priced: CA (BBB+) USD400m 5yr T+200bps
There are 2 Active Bookrunners....
Euro Commercial Paper Outstandings Decrease by USD1.01bn in Latest Week
According to CMDPortal data, the increase in the week ending July 22nd in the amount of outstanding Euro commercial paper (CP) and certificates of deposit (CD) was far higher than last week, when there was a USD7.81bn increase. Outstandings rose ...
From the Editor
Can Europe Grow Its Way Out of Its Debt Problems?
Debt-to-GDP ratios are high in a "slow growth" environment and demographics are not helping....
Danske Back in USCP
On 17 June 2015, Moody’s upgraded Danske Bank’s long-term rating to A2 from A3....
Euro Commercial Paper Outstandings Increase by USD7.81bn in Latest Week
The amount of outstanding Euro commercial paper (CP) and certificates of deposit (CD) increased significantly in the week ending July 15th, according to CMDPortal data. Outstandings rose by USD7.81 billion to USD864.31 billion during the week. Sovereign, supranational and agency ...
League Table Update
JP Morgan Overtakes Barclays and Citigroup as Top Syndicated Bond Underwriter
1st Half 2015 League Table results in Syndicated Bond Markets Number 1 JP Morgan with USD121bn Number 2 Barclays Capital with USD113bn Number 3 Citigroup with USD109bn. Click here to view the league tables http www.cmdportal.com ...
From the Editor
European Primary Reopens as EU Leaders Hold Emergency Summit
It's another day, and yet another meeting. An emergency EU summit will be held on Tuesday evening, keeping Greece in the spotlight. The iTraxx Main widened by another 2.5bps today, and the risk off mode prevailed. But efforts to resolve ...
Greek Crisis Pushes Austrian Yields Down
Austria was in the auction market today, tapping two lines. It issued EUR770m of the October 2025 bond, and EUR550m of the October 2019 bond. The 10yr bond was priced at an average rate of 1.144%. Last month the same ...
Only Foreign Issuers Keep Corporate Market Open
The corporate bond market witnessed a small contraction last week (29th June to 5th July), as the Greek crisis nearly brought the new issues market to a stop. This follows two strong quarters of expansions this year. In total ...
From the Editor
USD in Focus as No Vote Shuts European Market
The synthetic credit markets were quite resilient on Monday, following the Greek No vote over the weekend. The iTraxx Main widened by just 3bps. This however did not result in new primary issues on the day the reopening of the ...
Q2 Outstandings Stay Stable from Q1 as Banks Turn to USD
The first half of 2015 for the 3rd party FIG bond market saw new issuance of USD449bn this is a slight slow down of sales from Q1. The figure includes senior unsecured, covered and subordinated vanilla and structured bonds. ...
HSBC Hopes to Stay Dominant on EM League Tables with Staff Changes
It has been reported that HSBC has lost two CEEMEA DCM bankers. Most recent is Alexander Desyatnik. He has moved to another firm after two years of working for HSBC in London as an Associate for Emerging Markets DCM. Previous to HSBC, Desyatnik has held ...
Greece: Redemptions Due in July
Greek woes have been driving the market for days now. After the sovereign failed to repay it EUR1.6bn IMF loan on Tuesday, all eyes are now fixed on this weekend’s referendum. And following this are more bond payments due from ...
Corporate Market Growth Accelerates in Q2
The growth in corporate bond outstandings continued from Q1 to Q2, resulting in a USD536.87bn expansion in the first half of 2015 (USD provided 78% of this while EUR made up 21%). In total USD801.25bn settled whilst USD264.38bn matured. ...
EUR Issuance Halves in H1, as USD Takes the Lead in SSA Expansion
In the first half of 2015, the SSA market expanded by USD66.38bn, with USD531.15bn settling and USD464.76bn maturing. This was nearly fairly split between the EUR and USD markets, although there was a bias towards more USD growth. In ...
ECB Can Now Buy Italian Corporate Paper; Who's Next?
The ECB has been conducting QE in the government agency, covered and asset backed bond market, but today it added corporates to the list of eligible issuers that it could buy. Although corporate bond buying was rumoured late last year, ...
Euro Commercial Paper Outstandings Drop by USD11.8bn in Latest Week
The amount of outstanding Euro commercial paper (CP) and certificates of deposit (CD) declined significantly in the week ending July 1st, according to CMDPortal data. Outstandings dropped by USD11.80 billion to USD861.59 billion during the week. Sovereign, supranational and agency ...
Deutsche downplays Greek Contagion.
Their key arguments 1. Macroeconomic fundamentals are not like 2010 2012 Private sector direct exposure to Greece is smaller. Peripherals current accounts are in positive territory.2. Euro area crisis management tools are much stronger than in the past ECB will ...