Americas

The Commodity Futures Trading Commission (CFTC) on Tuesday announced the composition of a 21-member committee that will advise the derivatives regulator on interest rate benchmark reform.

The meeting between US president Donald Trump and China’s Xi Jinping during the G20 summit resulted in a trade war ceasefire, giving capital markets a temporary breather from the threat of a fresh tariff outbreak. Asia’s debt and equity issuers should pounce on the opportunity.

A short surge in risk appetite on Monday was not durable enough for ING Groep to proceed with a dollar tier two bond transaction on terms it felt were reasonable this week. The Dutch firm became the latest FIG issuer to pull a trade after announcing initial price thoughts.

Jefferies, which is in the process of a huge expansion of its emerging markets offering, has hired an ex-Goldman Sachs trader in New York.

Chinese online consumer lender 360 Finance is preparing to launch its New York Stock Exchange IPO on Wednesday, targeting around $100m, according to a source close to the deal.

Tencent Music Entertainment Group has begun bookbuilding for its long-awaited $1.23bn IPO in the US, around two months after first gauging investor appetite.

Calvert Impact Capital, the US impact investing firm, has published a study, the first of its kind, that aims to show the benefit of investing with a consciousness of gender in the context of private impact investments.

NiQuan Energy Trinidad Limited, the owner of a gas-to-liquids plant in Trinidad & Tobago, will begin to meet bond investors on Tuesday as it looks for a debut deal that could bring some unexpected December activity to the Lat Am primary market.

Mexico City Airport Trust (Mexcat) bondholders finally found respite in secondary markets on Monday as the government-owned company, which had raised $6bn of debt for the now cancelled Texcoco airport, launched a tender offer and consent solicitation for the notes.

Peru set the final size of its new 10 year local currency benchmark at Sl10.35bn ($3.06bn) on Friday after allocating some Sl4.438bn of notes to investors participating in a tender for existing bonds.

Brazilian steelmaker Gerdau will buy back $1bn of existing dollar bonds after receiving over $1.345bn of offers from bondholders to participate in a tender offer during the early-bird period, taking advantage of a strong cash position after asset sales and a recent local bond issue.

In this round-up, Donald Trump and Xi Jinping agreed to hold back from new tariffs for 90 days, Bloomberg received the green light from China Foreign Exchange Trade System (Cfets) to become the new trading platform for Bond Connect and CIBM Direct, and UBS obtained approval to acquire a majority share of onshore joint venture UBS Securities.