Americas

Financial resources dedicated to protecting central counterparties from defaults are becoming increasingly concentrated at two CCPs, according to a report by global watchdogs released on Thursday.

Brazilian shopping centre operator General Shopping e Outlets do Brasil will buy back $48.297m of its perpetual bonds in a move considered credit positive by Moody’s.

The Canadian province of Quebec has mandated four banks, including two international firms, to underwrite its first bond in China, a finance official at the provincial government told GlobalRMB.

Surprising exactly no one, big beast exchange ICE has joined its peers and entered the cryptocurrency market in earnest. More than eight months after competitors Cboe and CME launched cash-settled bitcoin futures contracts, this month ICE revealed Bakkt, a “global platform and ecosystem for digital assets”.

Fallout from a diplomatic incident drove yields on Turkish sovereign paper to almost 20% this week. While yields have come off their highs, the picture remains bleak for the beleaguered nation.

Alberto Carrasquilla Barrera returned for his second stint as Colombian finance minister on Tuesday. While investors are happy with his return, and are keen to boost their exposure to the country’s bonds, debt issuance is likely to be limited.

Mexican telecommunications company América Móvil will redeem €900m of its euro hybrid bonds when they become callable on September 6, it has told investors.

The Treasurer of California, John Chiang, rebuked President Trump for climate change denial on Tuesday as he committed the state to developing a "green bonds strategy" to develop the market and accelerate its growth.

Tesla’s only high yield bond traded at its highest level since mid-March on Tuesday, after CEO Elon Musk said he was considering a take-private deal that led investors to consider the bond’s attractive change of control provision.

After suffering the slowest month in a decade in July, the US high yield pipeline burst into life this week with two new deals on Tuesday and a further $5bn in the pipeline for the rest of the week.

Discover Bank tested a rare format for a US subordinated deal this week, with a tier two bond that has a coupon that resets if not called. An analyst suggested other US banks could copy it.

Chile’s corporate issuers are well placed to stand firm as Latin America’s best-rated sovereign experiences a gradual decline in its stellar credit quality, said Moody’s on Monday.