Americas

Bank of Montreal (BMO) raised A$800m selling Australian dollar bonds for the first time on Wednesday. The rising flows of Asia Pacific investors is making the Australian dollar market a useful source of diversification for financials and corporates alike.

Singapore-based Sea began pre-marketing a potential $1bn US IPO this week, according to a banker close to the deal.

The National Bank of Canada (NBC) has raised Rmb600m ($90.3m) from a three year bond on September 28, becoming the second Canadian issuer to hit the dim sum market in two weeks.

EM bond investors showed no supply fatigue in Latin America on Wednesday as Mexican chemicals company Mexichem attracted a huge book on the way to its first bond issue since 2014, and paid little or no new issue premium for the privilege.

Colombia’s largest bank will begin meeting bond investors next week as it looks to raise up to $1bn of dollar-denominated 10 year tier two notes to fund a tender offer for existing bonds.

Intercontinental Exchange (ICE), the US exchange and clearing house operator, is launching an NYSE FANG+ index, to help investors take exposure to high growth, liquid technology stocks.

Bank of Montreal launched an inaugural Australian dollar benchmark on Wednesday. As the fanfare for other Canadian financials has demonstrated, the Asian Pacific buyers are likely to come out in full force.

With strong demand right off the bat, Chinese firm RYB Education has broken through the top of guidance to raise a higher $144.3m from its US flotation, according to a source close to the deal.

Two Mexican chemical companies wrapped up investor meetings on Tuesday and syndicate bankers away from the deals expect the resulting bond syndications to fly through the market even as recent deals underperform in secondary.

The US Commodity Futures Trading Commission (CFTC) has extended its existing 'no-action letter' relief and has given additional relief in regards to the reporting obligations that are required by the ownership and control reports (OCR) final rule.

Equity derivatives experts do not expect equity volatility to pick up from its current low level any time soon. Some of the potential political hurdles have been overcome and some see little to trouble them until the Italian elections in the second quarter of next year.

Finnvera will on Wednesday enter a searing market for three year dollars, following a similar trade from Bank Nederlandse Gemeenten that rounded off the Dutch agency’s dollar benchmark funding for the year.