Americas

As investors turn their eyes to Mexico’s forthcoming presidential elections, Fitch said the country’s economic and fiscal resilience would be tested this year.

Daimler led three corporate dollar issuers on Thursday as the market stabilised and high grade credits showed their resilience after a stop-start week.

The US high yield market is hunkering down, with skittish investors pulling a record amount of cash for the sector this week while the proportion of investors shorting high yield exchange traded funds hits a post-crisis high. David Bell reports.

Implied equity volatility on US stocks, measured by the CBOE’s VIX index, showed signs of cooling off on Wednesday and Thursday, after it dropped from 27 on Monday and Tuesday to 19.7 on Thursday.

Christopher Giancarlo, the chairman of the Commodity Futures Trading Commission, will visit European regulators in London, Brussels, Frankfurt and Madrid next week in an attempt to defuse European efforts to alter unilaterally the supervision regime for foreign clearing houses.

As investors turn their eyes in earnest to Mexico’s forthcoming presidential elections, Fitch said that the country’s economic and fiscal resilience would be tested this year.

Baidu-backed video streaming platform iQiyi has filed documents with the US market regulator for a listing of American Depository Shares (ADS), according to the Chinese parent company’s quarterly earnings report released on Tuesday.

Peruvian agricultural company Camposol has cancelled a tender offer for existing notes after market conditions led it to delay a new bond sale, but Lat Am bankers are not overly pessimistic about prospects for primary markets.

JP Morgan has become the first non-Chinese financial institution to get an official renminbi clearing bank licence, joining Bank of China's New York branch as the second such firm in the US, the People’s Bank of China said on February 13.

Greetings card company American Greetings, which owns brands such as Papyrus and Carlton Cards, has obtained financing from a consortium of banks to finance Clayton, Dubilier & Rice’s acquisition of a 60% stake in the privately owned firm.

After last week's equity and bond market sell-offs, investors are worried about the positive correlation between the two asset classes, leading to increased hedging with derivatives, according to an equity derivatives strategist.

Aluar, the Argentine aluminium producer, will look into the possibility of issuing local or international debt after the company’s board of directors approved a $300m bond shelf.