Americas

Bolsa Mexicana de Valores, the only exchange in Mexico and the second largest in Latin America, expects growth in derivatives revenues and has retained bullish ratings from bank analysts as a result.

Options market participants have demanded higher premiums to bear exposure to volatility in the British pound after talks in Brussels failed to produce a decisive deal to help UK prime minister David Cameron win the upcoming referendum.

The past week has brought no sign of leveraged loan new issuance in either the US or Europe, and several deals have struggled in syndication.

The Republic of Peru could become the third Latin America sovereign to issue in euros in 2016 after holding an investor call at 10.30am UK time on Monday.

Yangtze River Development is looking to raise as much as $57.5m for a project in Wuhan, China, by listing on the New York Stock Exchange, according to a filing with the US regulator.

In this round-up, PBoC sets a volatile fix for USD/CNY suggesting it has changed its methodology again, JP Morgan AM gets approval for a new MRF product, BlackRock boosts holdings in Chinese ADRs by 500% and Safe plans more RMB convertibility schemes in FTZs. Plus, a recap of the top GlobalRMB stories this week.

Apple’s $12bn nine tranche bond this week deserved plaudits for kick-starting the US corporate bond market after weeks of nerves over volatility.

Bond bankers expect European investors will have more Latin American sovereigns to occupy them in the future, after Mexico showed that very low yields are still on offer in euros for those issuers that choose not to hedge their currency exposure.

Apple's $12bn nine-tranche bond this week has not only kick-started a US corporate bond market that had been drained by weeks of volatility, but also signalled the beginning of a wave of supply from US issuers that is expected to hit European shores.

With a four hour presentation, and after two years of broken promises, Venezuelan president Nicolás Maduro finally announced economic reforms on Wednesday. But although bonds rallied slightly, analysts saw the measures as too little, too late.

Regulators in the US are close to proposing rules that would require banks to lock in derivatives counterparties in other countries to US resolution regimes and give up their termination rights.

Santander’s Chilean arm has launched a tender offer for up to $500m on its 3.875% fixed rate 2022s and its floating rate notes due 2018.