来源原文.

Bitcoin swept to about $80K on October 15, just under the cost basis of the US spot ETFs and corporate treasuries, and the bids there refilled within days. Above price, the 6 to 12 month cost basis, a block of asks and the largest liquidat…

TRADE: European firms have not reshored production as expected. Instead, M&A deals point to greater control over supply chains, especially in strategic industries. Cross-border links remain, but sustaining them requires more investment and…

EUROPE: Bold Burnham, boring budget? Expectations of a low-key fiscal event this month are hard to square with the new Labour leader's big agenda for change. Throw in Labour's pivot on Brexit, and James Smith argues that all roads in Brita…

We are set for another heavy year of supply across currencies and products in 2027, although volumes may ease slightly from 2026 in many areas

Higher rates, wider spreads, steeper curves, hyperscaler fatigue and a more volatile backdrop should see corporate supply ease modestly from record highs. We forecast €444bn of supply in 2027

We expect EUR bank bond supply to reach €450bn in 2027. Redemptions remain the main driver of the high supply, but the modest macroeconomic outlook is not expected to push supply up any further. We foresee covered bond issuance reaching €1…

We forecast another hefty year for USD corporate issuance in 2027, with supply once again set to reach around US$1tr

2027 is set to be another heavy year for issuance across currencies and products, even if supply moderates somewhat from 2026 levels in many segments. Hyperscalers and the wider technology sector will remain key drivers of funding activity…

Corporate hybrid supply should remain reasonably elevated in 2027, although below recent peaks. We forecast €35bn in corporate hybrid supply next year

European TMT gross bond supply may reach €150bn in 2027, driven by tech funding for AI and data centres rather than traditional telecoms. Strong cash flows and credit quality support issuance, but disciplined funding will be key to market…

EUROPE: We expect utilities to see another year of high bond supply in 2027. Alongside a modest uptick in redemptions, stubbornly high capital expenditure continues to push companies towards bond markets

Sustainable bank bond supply is close to reaching a record in 2026, despite Europe’s ESG simplification agenda. We expect another increase to €100bn in 2027, supported by sustainable lending growth, higher redemptions and resilient investo…

Some lingering AI concerns appear to have left the dollar in a more fragile position overall. Yesterday, the greenback briefly dipped on some tentative news about progress in the Middle East. Further drops in oil prices now show greater po…