Americas

After a year when European banks took their lowest ever share of investment banking fees, 2016 is not shaping up to be much better. Credit Suisse’s bank analysts noted continued low fees in the European market, which is set to continue into 2016 and 2017.

JP Morgan’s corporate and investment bank (CIB) reported an 80% increase in profit in the fourth quarter, as the division’s legal fees and compensation dropped 20%.

Additional tier one paper (AT1) from Intesa Sanpaolo and Crédit Agricole was holding firm in secondary on Thursday, despite global equities flashing red again, and bankers feel a lack of fast money is helping the asset class.

There may be a new man in charge at the Mexican debt management office, but bankers were just as effusive as ever over its $2.25bn of 10 year bond, its first issuance of 2016, on Wednesday.

Anheuser-Busch InBev has brought its jumbo acquisition financing to the US corporate bond market on Wednesday, after days of speculation over when it would arrive. But that did not deter Telecom Italia and Mondelez from issuing in the European market.

A tumultuous start to the year has made it more expensive to buy hedges, but strategists at banks in New York have some ideas to keep costs in check.

Bankers say that at least two sovereigns from Latin America are considering announcing deals on Wednesday after Chile brought some much needed new issue action to the region on Tuesday.

TriOptima, the over-the-counter post-trade services provider, has teamed up with AcadiaSoft to launch a margin processing service, ahead of new rules on uncleared derivatives.

The first Aluminium Japan Premium Futures contracts traded on Friday, CME Group has said.

The deadline for public comments on a key US swaps regulation is due next week and, unless the Commodity Futures Trading Commission is swayed otherwise, “made up numbers” could drive costs higher for market participants.

A pair of SSAs are set to bring dollar deals on Wednesday, despite worries over the health of the Chinese economy making life difficult for other issuers in the currency on Tuesday.

Though financial institutions and public sector entities were busy issuing bonds on Tuesday, corporate issuance was quiet, despite the success of the only two trades so far this year and increased confidence that European markets can cope with Asia’s difficulties for the moment.