Americas
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Bright Scholar Education Holdings’ decision to price its IPO above the range paid off handsomely as the stock surged over 30% on its debut on the New York Stock Exchange. -
Brazil and Trump-related turbulence left the Province of Buenos Aires waiting ahead of a planned peso-denominated bond, though bankers say Argentine issuance should resume shortly.
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Corruption accusations made overnight on Wednesday against Brazilian president Michel Temer threw EM bond markets into turmoil just as they had already suffered a torrid day on the back of a Donald Trump-provoked slump in global markets.
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What, on Wednesday, seemed to be primary capital markets gung-ho for any deal imaginable by Thursday looked more like a market on the skids as concerns intensified over the endless controversies dogging US president Donald Trump’s administration.
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Yankee and domestic financial institutions unleashed a funding frenzy on the dollar market with $18bn in supply, as a strong technical backdrop gave way to volatility later in the week.
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What one SSA banker dubbed a “Canadian invasion” of the sterling market moved up a gear this week, as one province debuted in the currency and another returned after a 20 year absence.
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Mizuho Americas has appointed Massimo Tassan-Solet to head of derivatives trading.
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Corporate issuers remained on the sidelines this week as political concerns in the US and a government corruption scandal in Brazil stopped the dollar market’s hot streak in its tracks.
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Wednesday’s sharp fall in the S&P 500, as the political storm around US president Donald Trump’s links with Russia intensified, has not turned into a market rout... yet. Equities bankers, indeed, are convinced it is a blip, saying investor appetite for stocks remains strong.
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Acting Commodity Futures Trading Commission chairman Christopher Giancarlo courted the Fintech industry in a speech on Wednesday, promising to “transform” the agency into a “21st century digital regulator”.
