Americas

One thing needs to be made clear about a Trump presidency in the US: the president-elect is not a Wall Street Republican and he did not rely on the support of bankers to win the White House.

Deutsche Bank and HSBC are co-ordinating the loans for British American Tobacco’s acquisition of a 57.8% stake in Reynolds American.

Two corporates hit the new issue market on Thursday, one clinching a 0% yield and the other paying only a single digit new issue premium, despite volatility in rates markets.

Lat Am bond market participants held varying views on just how bad the market reaction to Donald Trump’s victory in the US elections had been on Wednesday, but most agreed that issuance plans across the region would be on hold for a while as debt prices tumbled.

UK banks will be allowed to use one year call structures to optimise the capital eligibility of their senior bonds, after the Bank of England published new rules governing the minimum requirement for own funds and eligible liabilities (MREL).

US and European equity investors have reacted with a degree of equanimity to Donald Trump’s capture of the White House, fastening on to the idea that he is likely to stimulate the US economy with deficit spending.

Citigroup has made a new appointment in its Americas equity capital markets business.

Velocity, a derivatives blockchain project, has closed, saying that financial derivatives “are a little too early” for the Ethereum ecosystem.

Remarkable resilience in the face of an uncertain future was the tale of emerging market bond prices on Wednesday as Donald Trump won the presidential election in the US, much to the surprise of EM traders themselves, who expected the risk aversion to last much longer. But the outlook for EM bonds under a Trump presidency is far from rosy. Latin America has been the clear underperformer so far but more pain is expected.

Donald Trump’s shock success in the US presidential election in the early hours of Wednesday met staunch resistance as far as EM asset prices were concerned. But dealers apportioned this to technical factors underpinning the market and warned that the long term impacts of the poll result are yet to be seen. GlobalCapital dissects the impact on EM region by region.

Remarkable resilience in the face of an uncertain future was the tale of emerging market bond prices on Wednesday as Donald Trump won the presidential election in the US, much to the surprise of EM traders themselves, who expected the risk aversion to last much longer. But the outlook for EM bonds under a Trump presidency is far from rosy. Latin America has been the clear underperformer so far but more pain is expected.

There was a benign response in the European leveraged loan market on Wednesday to Donald Trump's shock US election victory. How the result affects the post-summer repricing wave is a little more unclear, however, especially given the pipeline of new paper.