Americas

High yield credit and stock markets were immediate beneficiaries of the US Federal Reserve's decision on Wednesday to raise interest rates for the first time since 2006.

A group of 24 investment management firms has pledged to begin voluntarily clearing their single name credit default swap trades through central counterparties (CCPs), hoping this will encourage other buyside firms to follow suit and help revitalise the credit derivatives market.

MTN investors are speculating that the huge yield on Argentine peso bonds may be worth the risk.

Terex, the US lifting and material solutions company, has allocated $900m equivalent across two term loan facilities yesterday, widening the pricing on both.

With the market 81.4% sure that the Fed is going to raise rates today, according to the Fed Fund futures, the focus will be not be so much on the numbers, but the language used. One thing already seems clear, however: euro issuance stands to benefit hugely from a rate rise.

New York Stock Exchange listed Trina Solar is the latest Chinese company to announce plans to go private, and has picked Industrial Bank as the financial adviser and arranger of the debt financing.

Argentine energy company Medanito will wait until January to attempt its debut international bond issuance.

Intercontinental Exchange (ICE) has completed a $5.2bn acquisition of Interactive Data Corporation.

The US Securities and Exchange Commission proposed rules last Friday aimed at curbing funds’ use of derivatives, in a move that could force some exchange traded funds (ETFs) to close.

A US public sector borrower will bring a large green bond which will “startle the US market”, as green bonds gain further importance after COP21, according to market experts.

Both the investment grade and high yield markets in Europe ground to halt on Monday, as the approaching holidays put the brakes on the market and volatility spikes.

Brazilian sugar and ethanol producer Tonon Bioenergia has filed for bankruptcy after many months of battling low prices, and Standard & Poor’s is pessimistic on bondholders’ recovery chances.