Americas

CME Group is set to introduce six currency futures with monthly expiries.

Major derivatives exchanges have released figures showing growth over 2016 and in December, with big gains reported in some product lines.

John Maynard Keynes said we live in a world of irreducible uncertainty, while neoclassical economists assume that perfect information is available and people have rational expectations. The events of the past decade suggest that the former school of thought has more credence, though “freshwater” economists would no doubt disagree.

Royal Bank of Canada, Canadian Imperial Bank of Commerce, Commonwealth Bank of Australia and Deutsche Pfandbriefbank tapped the sterling covered bond market this week at cheaper levels than they could have achieved in euros and dollars.

Power generation company Genneia looks set to become the first Argentine company to debut in bond markets this year as DCM bankers predict a slew of new corporate issuers from the country in 2017.

Brazilian corporates Fibria Celulose and Raizen are looking to sell dollar bonds this month as bankers say issuances volumes from Latin America’s largest economy will continue to recover in 2017.

Central American sovereign Honduras will begin meeting fixed income investors on Friday ahead a potential 10 year dollar bond.

Timothy Massad, chairman of the US Commodity Futures Trading Commission, has resigned, with Republican commissioner J. Christopher Giancarlo widely expected to take up the job.

Cash strapped Venezuela has issued $5bn of 20 year bonds in a private placement sold to state-owned Banco de Venezuela and the central bank.

Barclays pulled in $1.5bn for a 30 year senior bond as part of a four-tranche offering worth $5bn, as five Yankee FIG borrowers powered through the first global window of 2017.

Royal Bank of Canada took advantage of deeper demand for fixed rate paper than floating in sterling covered bonds, issuing a five year trade on Wednesday. RBC has gathered more demand for its deal than Canadian Imperial Bank of Commerce, which issued a floating rate deal a day before.

High volumes of issuance have boosted confidence in FIG primary market conditions at the start of 2017, with bankers expecting flows to remain high until banks start going into blackout later this month.