Bond

The strong order book gathered €2.2 billion from 175 institutional European investors. This success reaffirms the interest for and the trust in CNP Assurances credit.

Amundi adds to its Fixed Income ETF range by launching the first ETF in Europe to offer exposure to the Markit iBoxx EUR Liquid Corporates BBB Top 60 index. This innovative ETF, listed today on Euronext, will then be cross-listed on the major European stock exchanges.

By hook or by crook, senior bondholders are in line to help plug the €14.4 billion capital gap that the ECB’s asset quality review and stress test revealed in Greek banks’ balance sheets.

After a long period of decay, asset quality is improving at Portugal’s banks — and political uncertainty seems unlikely to interrupt the trend.

Concerns about a weakened bank’s senior unsecured debt potentially being bailed in should not taint investment views for banks in decent-to-good credit shape; for financially healthy banks resolution remains a very remote probability.