Americas

The gross market value of over-the-counter (OTC) derivatives has resumed its precipitous decline after briefly gaining positive momentum between 2015 and 2016, according to figures from the Bank for International Settlements (BIS).

Foreign inflows to China’s onshore interbank bond market dropped to Rmb5.1bn ($734m) in September, down 91.5% from the previous month, amid narrowing spreads between China and the US and slowing economic growth.

Chilean state-owned oil company Enap (Empresa Nacional de Petróleo) raised $680m of amortising 11 year notes on Tuesday in a drive-by trade that showed Lat Am borrowers are still willing to battle tough conditions to get funding done.

Financial services firm INTL FCStone pulled a planned $350m senior secured high yield bond offering on Tuesday.

Recent developments may help push the risk of cyber attacks onto the capital markets through catastrophe bonds and other insurance-linked securities (ILS). But investors are likely to be wary about taking on too much exposure.

Central banks and international financial institutions have raised a storm over vanishing investor protection covenants in leveraged loans. But most warnings about the market have avoided assigning blame where it is richly deserved — to the private equity industry.

Steven Nichols, who handled Southern Company’s groundbreaking entry into the green bond market in 2015 as capital markets manager, has joined BNP Paribas’s sustainable finance team in New York.

Bondholders in Mexico City’s proposed new airport were left speculating how Andrés Manuel López Obrador (Amlo), the country's president-elect, planned to return their money on Monday after the said he would cancel the project.

Brazilian bonds were only slightly up on Monday morning after right-wing Jair Bolsonaro’s victory in Sunday’s presidential election was deemed to be mostly priced in. And analysts looking beyond the promise of market-friendly policies said that the president-elect’s polarising views could make much-needed fiscal reforms difficult.

European Commission officials have played down concerns expressed by the Commodity Futures Trading Commission over a controversial EC proposal that seeks to revise European oversight of foreign clearing houses. The comments garnered a curt response from a senior CFTC official.

360 Finance has filed for a $200m IPO on the New York Stock Exchange through Citi and Goldman Sachs.

GE Capital’s former Mexican equipment finance business, known as Engenium Capital, is set to give Latin American debt markets a new test with a proposed subordinated perpetual bond offering.