In FICC (Fixed Income, commodities and Currencies) Research, we offer niche EM expertise, especially in EMEA. We are the go-to bank for Benelux issues, from regulations to rates to a Benelux credit focus. We have developed top notch covered bonds research, and have niche offerings in money markets, rate derivatives and European high yield. We overlay this with a global offering in macro, FX, commodities research and technical analysis. Europe is a key focus for us, but our global sphere extends to the Americas and Asia, in areas where we have selected DM & EM edges. Our analysts provide both written output and conference calls, but also travel the world to provide face-to-face presentations.
ING’s Equity Research team provides in-depth research on over 120 companies in the BeNeLux region, offering both breadth and depth of stock coverage. In addition to investment recommendations, our analysts offer thematic research, proprietary data points. insights into industry trends and unique valuation perspectives. ING’s Equity Research team was ranked the #1 Country Research team in the BeNeLux region in 2017 by the Extel Survey. Next to this, ING is the only bank to have been involved in all the BeNeLux IPOs in 2017. ING has the largest equities team focussed on Benelux listed securities and is the only Benelux broker with sales and research operations in both Amsterdam and Brussels and a sales hub in New York.
The CBT extends its easing cycle further but with a more measured move this time. It's in line with its ongoing priorities and a relatively supportive global backdrop and comes despite higher headline inflation and a less favourable FX environment
Buoyant stocks are keeping the Fed away from the rate cut trigger. As the Fed will not rush into a rate cut, any nCoV inspired build in a cut discount, will mean a richer 5yr. We like 2/5yr flatteners, longs 5's to the curve and receivers in 1yr forward space versus cash. The biggest risk to these strategies is a collapse in stocks, which could accelerate rate cut talk and re-steepen the curve.
Alliander, the largest electricity and gas distribution company in the Netherlands with c.35% of market share based on connections, is the first Dutch regulated company to report 2019 results. The annual results remained robust despite the very high level of capital expenditure. While debt continued to increase, the company's cash flows generation was again solid, allowing a good buffer inside the group and for credit ratings' financial requirements. After a first green bond in 2016, Alliander issued its second green bond in June 2019 with a size of €300m and a 13 year tenor. The proceeds are ...
Today, SR-Boligkreditt issued a €0.5bn 10yr EUR benchmark covered bond at MS+8bp, 5bp inside initial guidance. It is the longest EUR benchmark size covered bond issued by the mortgage bank up until today. So far, SR-Boligkreditt had only issued EUR benchmark bonds up until the 7yr maturity. Hence, this makes another example of an issuer opting for a maturity bucket where underlying covered bond yields just made their crossover into positive territory.
Unfortunately, this report is not available for the investor type or country you selected.Browse all ResearchPool reports
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.