Americas
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The State Administration of Foreign Exchange (Safe) has poured cold water over claims that China may stop buying US Treasury bonds. But there is a need for the country to diversify its debt portfolio in the long run if it is serious about promoting RMB internationalisation, economists told GlobalRMB. -
Four Latin American corporates priced a total of $3bn of new debt on Thursday, as investors said they were grateful for the chance to get their hands on new paper but not overly enthused about the yields on offer.
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The CFO of Brazilian railroad operator Rumo told GlobalCapital that improvements in the company’s credit metrics allowed it to successfully issue in dollars on Wednesday, despite the issuer not guaranteeing the bonds with its main operating company as it had for its previous deal.
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Mexico issued in euros for the first time since 2016 on Tuesday, coming tight to its dollar curve and wrapping up its external funding for needs for the year already.
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Yankee banks made their final foray to the dollar bond market this week, before heading into earnings blackout and handing the baton over to US lenders.
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Equity derivatives strategists are bullish on equities in the short term as European business confidence is high and US markets bask in the afterglow of tax reform passed by President Donald Trump. But questions remain over how long the US equity bull run can continue, with some experts encouraging more cautious long positions this year.
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Industry members and SEC commissioners put their heads together to address the liquidity issues that face the fixed income markets in the first US Fixed Income Market Structure Advisory Committee.
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Chinese conglomerate Tencent brought cheer to the dollar bond market on Thursday as it tapped pent-up demand with a four-part benchmark trade that amassed a $40bn order book.
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Mexican non-bank lender Unifin Financiera is plotting a subordinated perpetual deal, according to bond market sources, after Peru’s Interbank became the latest Latin American financial name to issue on Wednesday.
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Brazilian railroad operator Rumo clinched its second dollar bond on Wednesday, offering a pick-up to its previous deal and building a hefty order book in the process.
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The transition to a greener economy is likely to involve not just changes in the kinds of technology used, but also in scale. Smaller, local installations will become much more important — but these pose financing challenges.
