Covered bonds: worth a look from a spread cushion perspective. Deutsche Bank: lower issuance in 2026 with the bulk still in NPS. CaixaBank earnings remain resilient. RBI's targets point to lower profitability ahead.
Covered bonds: worth a look from a spread cushion perspective. Deutsche Bank: lower issuance in 2026 with the bulk still in NPS. CaixaBank earnings remain resilient. RBI's targets point to lower profitability ahead.
Deutsche Bank (DB) reported substantially stronger earnings, masking the issues in its CRE book. While its capital edged lower, we see the headroom still more or less solid at c.295bp. We consider the report altogether as solid.
Deutsche Bank (DB) reported substantially stronger earnings, masking the issues in its CRE book. While its capital edged lower, we see the headroom still more or less solid at c.295bp. We consider the report altogether as solid.