New issuance of euro benchmark covered bonds remained very strong in 2023, with banks placing almost EUR190bn publicly with investors. This was below the almost EUR200bn of issuance in 2022, but still well above the EUR123bn of redemptions. As a result, 2023 was the second year in a row that net supply of euro benchmark covered bonds was firmly positive. Meanwhile, issuance of retained covered bonds unexpectedly jumped in 2023, reaching an all-time high. Which issuer(s) caused this spike and how will issuance in the covered bond market look in 2024? Discover this and more, here.