Americas

Tencent Music Entertainment Group (TME) has nabbed $1.1bn from its IPO on the New York Stock Exchange, guiding investors toward the bottom of the price range amid choppy markets.

Mexico City airport bondholders are right to turn their noses up at attempts to modify documentation. But though the issuer’s offer will not be the new government’s last squabble with markets, it is still a good sign.

Peruvian cement company Cementos Pacasmayo will buy back more than half its dollar bonds after an oversubscribed tender offer.

In this round-up, Trump was confident China would deliver on promises from G20 dinner, China signed several cooperation agreements in Panama and Argentina, China Financial Futures Exchange (CFFEX) planned to lift bans on trading stock-index futures to boost market activity.

NiQuan Energy Trinidad Limited, the owner of a gas-to-liquids plant in Trinidad & Tobago, began meeting bond investors on Tuesday. But another tough week left Latin America bond bankers down on the chances of new issuance before the end of the year.

Mexico’s new government acted swiftly to show that it would at least engage with financial markets this week. But investors' reaction to a tender offer for Mexico City airport bonds suggested it was the beginning of a troublesome relationship.

The chairman of the Commodity Futures Trading Commission (CFTC) on Thursday seemed to side with the Bank of England in demanding more clarity from European authorities on how they plan to alleviate post-Brexit derivatives disruption.

At least three high-grade borrowers in the US bond market stood down on Thursday as supply windows snapped shut and scotched hopes of a final flurry of supply before year end.

Huawei Investment & Holding Co's dollar bonds took a beating on Thursday morning following news of the arrest of its chief financial officer in Canada.

Brazilian government-owned oil company Petrobras has said it is looking to deleverage as part of its new five year business plan. But it will still be a regular borrower in capital markets. Furthermore, though some Latin American debt capital markets bankers say their January pipeline is looking bearer than it usually does at this stage of the year, Brazilian public sector issuers could be the one active area of the market.

US president Donald Trump and Chinese general secretary Xi Jinping's agreement to hold a 90 day truce in their trade war was greeted warmly by emerging markets investors eager for good news. But the rally didn’t last long.

Investors are turning their attention to 2019, hoping for better returns than 2018 afforded. Despite the US Federal Reserve’s rate hiking ambitions and uncertainty over a US/China trade war, investors are looking forward to next year.