Americas

Deals set to be issued by the Province of Ontario and Development Bank of Japan on Wednesday attracted good demand, reflecting their higher yield relative to other dollar supra and agency bonds.

US Commodity Futures Trading Commission chairman Heath Tarbert has followed in the footsteps of his predecessor, Christopher Giancarlo, in issuing a strong warning on the European Union’s EMIR 2.2 rules.

Nasdaq-listed Chinese company Pinduoduo has printed its debut convertible bond at the tight end of price guidance, pocketing $875m.

Uruguay added $750m to bonds maturing in 2055 on Tuesday and looks set to increase its 2031s on Wednesday as part of a liability management exercise.

An unexpected bond issue from Ecuador sent its bond prices tumbling on Tuesday as some analysts saw the deal as a sign that the country was not delivering on its fiscal promises.

Kommuninvest kicked off the dollar market this week with a $1.25bn blowout, despite it being at record tight levels over Treasuries, according to a banker on the deal. Following on from Kommuninvest’s deal, a wide range of SSAs look to print across the curve, including rare issuer IDB Invest with its five year dollar bond debut.

Chinese e-commerce platform Pinduoduo has opened books for a convertible bond backed by its American Depository Shares, in what has become an increasingly popular corner of the equity-linked market.

Corporación Nacional del Cobre de Chile (Codelco), the world’s largest copper producer, extended the run of well received long dated bonds from Latin American issuers as it notched $2bn of new funding in a dual tranche offering.

The Province of British Columbia has weathered volatility from the fallout of last week's meeting of the US Federal Reserve to return to the dollar market for the first time in four years. Another rare SSA issuer, IDB Invest, also plans a return to the dollar market, with investor calls set up for this week ahead of its five year debut.

Brazilian food producer BRF will look to buy back more old bonds than initially intended after selling a larger than expected long 10 year note last week.

In this round-up, the US exempted 400 Chinese goods from import tariffs while China cancelled trips to US farms, two top Chinese regulators jointly addressed funding difficulties facing smaller corporations and custom authorities detained a FedEx pilot on suspicion of carrying ammunition.

In this round-up, deputy-level trade negotiators from China and the US have met, the People’s Bank of China left the medium-term lending facility rate unchanged and the Shanghai government issued more measures to attract foreign investment.