Financial issuers have enjoyed a bonanza opening to 2012 in the bond market, with more than €26.4bn priced in covered bonds and €25.4bn in senior unsecured debt since January 3, according to Dealogic.

This compares favourably with the closing months of last year, when issuers found themselves becalmed amid prolonged periods of market closure which saw just €25.7bn and €20.7bn issued in covered and senior formats respectively from October to December.