Week of October 9, 2011 thru October 15, 2011


(#) Launched or (*) Priced (Investment Grade $250M+) =========DEALS TO ANNOUNCE OR PRICE WEEK OF October 10, 2011=========== >>>>>>> NOTE: FOR RUMORED/SCHEDULED DEALS IN PIPELINE SCROLL DOWN <<<<<< --- Plus More Treasury, Muni & Agency Supply/Calendars -

$1.25B *Asian Development Bank 7Y Aaa/AAA MS+2 DAI/DB/JPM/UBS - $1.25B *European Bank for Recon & Dev Aaa/AAA 5Y Glo +31.9 GS/HSBC/MS - $750M *JM Smucker Company A3/BBB+ 10Y 101COC +135 BAML/JPM - $3B *FHLBanks 2Y Global +23 BAML/DB/MS By region: US 65%, Asia 15%, Other/Unkown 20% By investor: Investment Advisors/Fd Mgrs 26%, Central Banks 31% Corporations 18%, Fin'l Institutions 16%, Ins/Pension Funds 4% State/Local Govt 5% - $1

EU Comm:See Bank Recap Plan Criteria Finalized By End Next Wk

BRUSSELS (MNI) - The European Commission on Friday said EU banking regulators should finalise criteria to be used in a recapitalisation plan for the sector by the end of next week and expressed its confidence in the Portuguese government's commitment to pursue reforms linked to its EU-IMF bailout programme.

Euro CDS: Credit Markets End Week On More Solid Note

LONDON, Oct 14 (MNI) - European credit markets will close the week on a positive note, with the sector having largely ignored the choppy price action in stocks at the end of the week now seeing much more steady markets. The relative stability has been a real tonic for the new issues sector which has seen one of its most active weeks in months.

Repeat: Sources: Greece Haircut Could Occur In Two Phases -1

ATHENS (MNI) - Although the EU is currently examining various ways of applying a larger haircut on Greek debt without pressing the default button, there isn't a single proposal on the table, but rather various scenarios, senior EU officials told Market News International.

Repeat: Sources: Greece Haircut Could Occur In Two Phases -2

ATHENS (MNI) - But it is not just Juncker who is voicing concern. Greek Prime Minister George Papandreou appears to be worried over the negotiations going on without his active participation. At yesterday's cabinet meeting he appeared worried and told his ministers that this is a period of great uncertainty.

Euro Credit: New Issues Sector Sees Better Week

LONDON, Oct 14 (MNI) - The new issues market has seen a much better week in terms of activity with volumes increasing due to the wider market stability.

Ldn FX: Cable Strictly Range Bound; Breakout Key To Direction

LONDON, Oct 14 (MNI) - Cable is contained in a tight $1.5700 - 1.5800 range with a breakout either way likely to be pivotal.

On the topside we have failed to break $1.5800, which holds reported barrier interest, posting $1.5796 in the last 2 sessions. Through here opens a move towards $1.5840, a break is needed to clear the double top formation and seek the next target of $1.59 and above.

STERLING SUMMARY: Opened in early Europe at $1.5769 and stg0.8743. - Recovered well in the NY session from earlier lows of $1.5666, with the market short covering later in the session to highs of $1.5785 towards the close despite some rumours of a UK sovereign downgrade.

Ldn FX: Euro Recovers On Dip Buying After S&P Spain Downgrade

LONDON, Oct 14 (MNI) - An overnight S and P cut to Spain's credit rating and a downgrade to UBS added weight on the euro in early trading. The rate recovered well as dealers took a buy on the dip strategy in a quiet European session.

Going into NY dealers note of an important Fibonacci retracement level at $1.3848, as long as the rate is capped here a correction lower should be seen.

EURO SUMMARY: Opened in early Europe at $1.3786. - A strong recovery in the NY session recouped earlier European losses, with traders shrugging off negative news and a UBS downgrade after Slovakia finally approved the EFSF expansion. Rate rallied with equities to $1.3800 before closing in NY around $1.3790.

ECB Liikanen: If Banks Don't Get Capital, Risk Of Recession

HELSINKI (MNI) - Should banks fail to get the capital they need, there is a risk of a recession in Europe as credit dries up, European Central Bank Governing Council member Erkki Liikanen said Friday.

Germany's Govt: See Need For Coordinated EU Action On Crisis

BERLIN (MNI) - The German government on Friday called for a coordinated action in the European Union to prevent the sovereign debt crisis from spilling over to the real economy.

"The federal government fundamentally sees the necessity to act in a coordinated fashion on the European level to secure the stability of our currency and, most of all, to prevent or cushion a possible spillover of the undeniable debt problems to the real economy," spokesman Steffen Seibert said at a regular government press conference here.

Seibert said he could not confirm a media report that the government coalition had agreed to support the idea of leveraging the European Financial Stability Facility (EFSF).