Helene Durand is deputy global credit editor for IFR Markets and Reuters. She joined Thomson Reuters in May 2011 from EuroWeek. She spent five and a half years at EuroWeek as fixed income editor, and set up the Daily Bank Finance website there. Before EuroWeek, Helene worked at IFR from July 2000 to December 2005. Helene holds a Law degree from Universite de Bordeaux 4 as well as an MA in European Industrial Relations from Warwick University Business School.
The Republic of Italy turned to the safety of its domestic retail market to raise funding last week, as the volatility that has stalked markets for weeks showed little sign of letting up.
My Money Bank failed to find enough demand to get a debut covered bond over the line last Thursday, the clearest sign yet that the ECB’s exit from the market could have broad repercussions for the asset class.
A 10-year covered bond for La Banque Postale managed to draw a book of €1bn, helped by the positive spread on offer, giving the market some reassurance as it enters the last stages of the ECB QE programme.