Americas

Multilateral development banks are increasingly seeking creative ways to strengthen their arms by getting private capital to invest alongside them, magnifying their efforts. The International Finance Corp has long been one of the most active in this field, and thanks to a fund it launched five years ago, it last year achieved a co-investment ratio of over 100%.

The US Treasury declined to name China a currency manipulator in its latest report this week, contrary to expectations. But the last minute save did not prevent the renminbi from moving closer to the line in the sand with an exchange rate of seven per dollar.

Niu Technologies, China's leading maker of electric scooters, dragged its Nasdaq IPO over the line on Thursday after cutting the number of shares on offer and pricing almost 30% below the original marketing range.

Three Latin American companies managed to raise dollar bonds on Thursday in the face of challenging market conditions, but of the five that completed roadshows on Wednesday, one was left evaluating feedback, having announced guidance, and the other had not appeared.

Panama came from nowhere to lead a slew of Latin American credits marching to raise bond funding on Thursday, but the weight of supply coupled with a tricky trading session meant that results were as up and down as the recent market conditions.

Transportadora de Gas Internacional (TGI), the Colombian gas pipeline operator, ventured into bond markets six months after an initial roadshow on Wednesday with a new 10 year dollar bond.

South American multilateral lender CAF (Corporación Andina del Fomento) opened its first new line in Australian dollars for over a year on Thursday with a new five year benchmark.

Mexican state oil company Pemex returned to bond markets on Tuesday after weeks of speculation to find a wide open market and easily clinch a $2bn long 10 year broadly praised by bankers.

Stablecoins are a curiosity unique to the cryptocurrency market and, despite the placid sounding name, have been embroiled in some of the hairiest controversies in the market. And they aren’t even stable.

Ride-share firm Uber saw sufficient demand from investors this week to increase the size of its debut private high yield bond from an initial $1.5bn to $2bn across two tenors.

It was a good week for Netflix as its stock jumped by almost 10% after it released its third quarter results, but the company’s business model and overvalued stock makes it seem like a bubble trade.

Conagra Brands tucked away a $7bn bond deal just days after market volatility forced it to postpone the trade.