Americas

Pay TV and broadband provider Cablevision sold the first true corporate bond from Argentina since the sovereign exited default in April, raising $500m on the same day the Province of Buenos Aires hit the market for the second time this year.

Mexican cement producer Cemex sold €400m of euro denominated bonds on Wednesday as the company’s liability management policy brought it popularity with fixed income investors.

Mexican cement manufacturer Cemex on Wednesday followed in fellow high yield issuer Braas Monier’s tracks with a significant tightening in pricing on its offer.

A pair of public sector borrowers are lining up to sell dollar floating rate notes on Thursday, following a series of floating and fixed rate deals in the currency on Wednesday.

Berenberg has appointed James J. Ramp to take up a new brand new post for the firm as head of US equity capital markets.

truePTS has appointed a former IntercontinentalExchange official as its first chief executive officer since becoming an independent post-trade derivatives business.

Bank of Montreal (BMO) has opened books for its third covered bond benchmark of the year but its first in dollars in four years. The deal follows a string of successful transactions in the US currency issued by BMO’s Canadian peers at progressively tighter spreads and in larger sizes.

Latin America DCM bankers said that Vale had timed its return to bond markets to perfection after the Brazilian mining giant pounced on the huge rally in Lat Am credit that followed disappointing US non-farm payroll on Friday.

The news that the US is to receive a Rmb250bn investment quota has been greeted as a welcome, if long overdue, development. Plans are also underway to set up a renminbi clearing system in the US, but the challenge will be convincing the country’s corporates to use the currency.

A trio of issuers have lined up short end dollar deals for pricing on Wednesday. Some bankers said the focus on threes and fives was in response to poor US jobs data last week, although that view was not universal.

OpenDoor Trading has joined forces with Broadway Technology to speed up development of its trading platform for the US Treasury bond market.

The state of Illinois sank deeper into trouble over a budget impasse this week, with Moody's cutting the US state's credit rating while a key financial market figure told lawmakers that a proposed derivatives tax would only worsen problems rather than help solve them.