Nov 22 2024 30 mins 2
◆ The challenge for SSA issuers next year
◆ German banks and the commercial property millstone
◆ Hybrid hot streak explained
SSA bonds in euros have widened against swaps by quite some way in recent months. That will present a big challenge for the asset class's smaller issuers next year. We explain how the market will find a new clearing level.
German banks - two in particular - have suffered from investor fears over exposure to commercial property. Those fears have abated over 2024 but this week there was a deal that suggested a mild degree of terror lingers. We investigate.
Finally, there has been a spate of corporate hybrid debt issuance lately. We find out why and whether there is more to come.
