The European Union’s Taxonomy of Sustainable Economic Activities, the cornerstone of its action on sustainable finance, looks set to bless several technologies such as biofuels and hydroelectric power that are not just environmentally questionable but actively harmful, as a result of lobbying by vested interests.
This week’s funding scorecard looks at the progress European sovereigns have made in their funding programmes in early December.
The House of Commons’ Treasury Select Committee has asked the UK Debt Management Office to answer a series of questions on its bond syndication programme, specifically on the pricing of its bonds and the fees it pays to bookrunners.
Germany received lacklustre demand for its second ever green bond on Wednesday. The sovereign had to contend with a big drop in Bund yields following uncertainty over the US election result.
The US presidential election result was far from clear on Wednesday morning but, while uncertainty is never a popular result, the SSA market is unlikely to be derailed for long.
This week’s funding scorecard looks at the progress supranationals have made in their funding programmes at the beginning of September.
Caisse d’Amortissement de la Dette Sociale (Cades) has mandate a pair of banks to help it structure its new social bond programme.
The ECB publishes a breakdown of its purchases under the Pandemic Emergency Purchase Programme (Pepp), which was launched in late March to combat the effects of the coronavirus pandemic. Unlike the Public Sector Purchase Programme, the Pepp may deviate from the ECB’s capital key in terms of how it allocates its buying between member states.[…]
The Agence France Trésor (AFT) has suspended Morgan Stanley’s primary dealership in French government bonds, making it the first bank to suffer such a proscription.
The State of Brandenburg got over the line with a fully subscribed order book and a yield inside its curve on Tuesday, successfully avoiding the fate that its compatriot Berlin met at the tenor last week.