Americas

Conviction levels are low among emerging market investors with many waiting on the sidelines this week as geopolitical risk and local currency weakness persist in wreaking havoc on EM bonds.

Latin America syndicate bankers are dreading a moribund primary bond market this week despite the fact there are borrowers interested in issuing.

Nicolás Maduro’s comfortable and predicted victory in Sunday’s highly-questioned presidential elections in Venezuela have strengthened the president’s grip on power and reaffirmed the view of many bondholders that improvements in the crisis-stricken country are some way off.

Delaware-based chemicals group Chemours added to the surge of reverse Yankee issuers with a new euro deal this week, as sources report growing interest from non-European bond investors in the currency.

Brazilian oil and gas giant Petrobras is asking certain bondholders to sell their paper in what would be its second $4bn tender offer of 2018.

The Commodity Futures Trading Commission on Monday made two big moves to develop the oversight of cryptocurrencies and their derivatives, revealing a new agreement with state regulators and fresh rules for exchanges and clearing houses.

Institutional asset owners have increased their use of smart beta strategies in 2018, but the adoption rate has slowed compared with recent years, according to a survey by index provider FTSE Russell.

European corporate bond market participants are hoping a public holiday on Monday will provide the market with a fillip when it reopens on Tuesday. There was a soft end to the prior week in both primary and secondary.

Chinese tutoring service provider Puxin Education & Technology Group has filed draft documents for an IPO of American Depository Shares (ADS), targeting $300m, according to a banker on the deal.

All three major rating agencies gave a green light to Brazilian meatpacker JBS’s recent refinancing last week, saying that the new agreement with its lenders meant a significant improvement in the company’s liquidity position.

The Chinese central bank ushers in measures to support offshore renminbi liquidity ahead of MSCI’s A-share inclusion, the London Stock Exchange (LSE) showcases a grand plan to link its stock market with Shanghai, and Beijing and Washington hold back on tariffs after Liu He’s visit to the US.

The highly anticipated IPO of iZettle, the Swedish payments company, has been called off, as PayPal has struck a deal to buy the company.