Americas

Moody’s has reduced Mexican government-owned oil giant Pemex’s credit rating from A3 to Baa1 and kept the issuer on negative outlook, saying that the company’s weak credit metrics would deteriorate further in the near to medium term.

US regulator the Commodity Futures Trading Commission has proposed rules to increase oversight and risk controls for high speed electronic trading – and particularly the use of algorithms – in a bid to limit disruptions in the futures market.

Argentina has been a pariah among international creditors for years, but its new, pro-business president may reopen the door to foreign investors — the question for derivatives players is how they can take part.

MasterCard, the US credit card payments company, raised €1.65bn on Monday with its first euro bonds - and only its third bond issue ever.

Emerging market bond investors say that Argentine lender, Banco Hipotecario could this week price a $250m five year deal in what would be a stern test of market appetite for the country following Mauricio Macri’s election as president.

Banco Nacional de Desenvolvimento Econômico e Social (BNDES) will buy back $640m of senior unsecured notes at a discount, taking advantage of sub par dollar prices and its strong cash position to reduce its debt burden.

The Depository Trust & Clearing Corporation has launched Data as a Service (DaaS), a solution that the company claims will transform the way data is accessed and presented from its clearing, settlement, servicing and trade reporting platforms.

The Chicago Board Options Exchange has created five options-based strategy performance benchmark indices that aim to help investors improve risk management and returns.

A Canadian province braved the five year spot in dollars on Friday. A healthy spread over US Treasuries prompted strong demand despite negative five year swap spreads, which has caused other issuers to avoid this part of the curve.

Mauricio Macri’s victory in Sunday’s Argentine presidential elections signals a new era for the country and should lead to a further rally in the sovereign’s bonds, at least in the short term, say market analysts.

Mexican broadcaster Grupo Televisa sold $1.2bn of 10 and 30 year bonds on Thursday to reignite a Latin American bond market that some had suggested was heading for early hibernation.

Banco Nacional de Desenvolvimento Econômico e Social (BNDES), the Brazilian government-owned development bank, on Monday became the latest financial institution from the country to look to take advantage of depressed bond prices by repurchasing debt below par.