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Bank : AT1, the honeymoon continues…
At last! AT1 instruments largely outperformed the broader market in the first half of the year, catching up with the corporate HY 'B' and 'BB' segments. This discrepancy, which we considered unwarranted at the beginning of the year, prompted our Overweight rating on this debt segment (see our report, "AT1, a no-brainer", published on 21 Jan. 2021). - This performance is entirely due to the health of banks, as reflected in H1 results which were broadly stronger-than-forecast and rec...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Carine Maciol
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