Americas
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Argentina came a step closer to regaining capital markets access this week with the announcement of a first settlement with holders of its default debt. Analysts warned, however, that a rapid resolution to negotiations with the remaining holdouts is unlikely. -
Credit and equity markets suffered a crisis of confidence this week, with several previously crowded trades rapidly unraveling in the face of rising concerns about European banks, US Federal Reserve policy and a perceived lack of European Central Bank firepower to revitalise the continent’s stagnant economy.
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Citigroup started marketing its first yen bonds in more than two years on Thursday after mandating banks for a five year issue in global format.
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Home Depot brought some much needed relief to the dollar market this week with a $3bn print that demonstrated that investors are prepared to deploy cash for high quality names.
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Commodity Futures Trading Commission (CFTC) chairman Timothy Massad has emphasised his "commitment to protecting commercial end-users from overly onerous regulatory burdens", drawing a sharp distinction between the core users of derivatives and the activities linked to the financial crisis.
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Crude oil is Canada’s second largest export and its price collapse is forcing debt issuers to reconsider their plans, continuing a process they began last year.
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A return of dollar issuance from Latin America edged closer on Thursday as details emerged of planned project bonds from Colombian toll road concessionaire Pacifico 3.
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Progress has been made in negotiations between the Argentinian government and US holdout creditors, court-appointed mediator Daniel Pollack said late Wednesday.
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Some medium term note investors believe the Mexican peso may now be undervalued, a pair of deals in the currency suggested this week.
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Citigroup could issue its first yen bonds in over two years this week, after mandating banks for a five year issue in global format.
