Americas

Mexican refrigerated food company Sigma Alimentos sold the first dollar denominated high grade private sector bond from Latin America this year on Monday, taking advantage of low corporate supply to tighten pricing.

Liberty Mutual Group was having a second stab at its first ever benchmark issuance of euro senior unsecured bonds on Tuesday, having conducted a roadshow in 2015 for a print that did not materialise.

A rally in US equities has led to the largest build-up in short VIX futures positions among hedge funds in at least a year, according to data from the US Commodity Futures Trading Commission.

Brazilian telecoms firm Oi has entered a “customary non-disclosure” agreement with Moelis & Company, the advisor for a group of its bondholders, as it looks to work on cutting its debt burden.

JP Morgan paid a negligible premium for a 10.5 year euro senior unsecured deal on Monday, as it became the last major US bank to issue following earnings.

The chance of the United Kingdom voting to leave the European Union has been driving sterling option premiums sharply higher, but so far has not affected the price of risk in the euro. That, say strategists, is likely to change.

The International Swaps and Derivatives Association's EMEA Determinations Committee has ruled that Norske Skog has triggered a restructuring credit event.

Some 49% of troubled Canadian-Colombian oil company Pacific Exploration & Production’s creditors, comprising bank lenders and senior noteholders, took just two days to agree to a restructuring proposal presented on Monday evening.

Argentina fever has gripped financial markets after the sovereign’s record breaking return to international bond markets this week, with sub-sovereigns likely to be the first to take advantage of the clamour for bonds.

Banco Nacional de Costa Rica (BNCR) sold the first ever high yield green bond from Latin America on Wednesday, jumping on the momentum in a buoyant market provided by Argentina’s jumbo bond comeback.

The first quarter results of the major US firms show in detail just how painful the early volatility in the year has been, with double digit percentage point declines in multiple business lines.

Argentina’s record-breaking return to international capital markets was priced much tighter than many investors would have liked. But the country's president Mauricio Macri is exactly the kind of leader EM investors have been looking for, so the exceptionally strong performance in the aftermarket is more than understandable.