Americas

The Inter-American Development Bank, a Canadian sub-sovereign and two Danish agencies offered chunky issuance to the Kangaroo market this week. The SSAs took advantage of Asian accounts looking to work their cash at the 10 year part of the Australian dollar curve.

Banks showed a clear preference for dollar-denominated primary issuance in the third quarter, as the euro market grappled with heightened volatility.

The green bond market is well on its way towards $100bn of issuance this year but for the market to maximise its potential, it will need fully developed and widely accepted industry standards, said experts including the World Wildlife Fund. Meanwhile, sovereign issuers are on their way.

Argentine mortgage lender Banco Hipotecario announced plans to raise peso-linked bonds on Wednesday, in the second local currency transaction from the country since the sovereign exited default in April.

The Canadian province of Quebec added a 10th tap to its May 2026 Kangaroo line on Wednesday. The lead praised the borrower's swift execution of Kangaroo taps at the longer end of the curve.

One of the perks of working for a global bank is the possibility of a transfer to an office in a different country. A friend of mine recently had the good fortune, so it seemed, to move to the US. But alas, events conspired against him.

Chinese data firm GDS Holdings has begun pre-marketing its $300m US listing with bookbuilding expected in the next two weeks. Logistics company ZTO Express has also chosen to float in the US.

Argentina took a further step in its reintegration to global markets on Wednesday, selling €2.5bn of euro-denominated bonds for the first time in 15 years.

A report from American think tank Atlantic Council is calling for China and Latin America to take better advantage of their trading links and improve the usage of renminbi on the continent.

Volume figures released by major derivative exchanges show that low volatility continues to subdue volumes in equity derivative products, although flows improved in September. Interest rate, metal and energy derivatives show growth, however.

Island nation Bermuda is understood to be meeting bond investors this week ahead of a planned new dollar bond.

Argentina presented investors with a pricing conundrum on Wednesday when the sovereign came to market with its first euro-denominated deal since its 2001 default.