Americas

Mexican retail chain Soriana is meeting investors ahead of a potential bumper peso deal as deal pipelines fill up in Latin America’s stronger economies.

Volatility in futures and options markets for US grains has abated after data from the US Department for Agriculture indicated a potentially weaker harvest cycle.

JP Morgan Chase missed analysts' expectations in its third quarter results, due to weak revenue from trading and debt capital markets. But core loan growth is soaring, and JPM has made huge strides in simplifying its balance sheet.

Santander and BBVA both looked to the dollar market to secure senior funding on Tuesday amid a bare session for European FIG issuance.

Bankers covering Latin America are optimistic about the prospects for primary supply from the region this week, with Mexican names the top picks to test the market.

Fitch has downgraded a series of project bonds issued by Odebrecht’s oil and gas subsidiary for the fifth time this year following the early termination of an oil rig contract by Petrobras.

This week began with three small euro offerings on screens from Landsbankinn, Carrefour Banque and NordLB as investors and issuers remained defensive after a recent run of gains in equities was met with a loss on Monday.

Royal Bank of Canada launched a €1bn three year floater on Tuesday, adding a euro trade to its recent activity in dollars and sterling before it enters a blackout period in November.

The euro FIG market may lose the business of some US banks in the looming results reporting season, because it can’t compete with the depth of demand on offer in dollars.

As the primary US banks prepare to release earnings for the third quarter there is little sign of panic in options markets despite overwhelmingly negative expectations.

Uruguay finance minister, Danilo Astori has told GlobalCapital that the country will mandate banks for a global bond in the coming days, with at least three Latin American governments preparing to raise international debt before the year is out.

China’s economic slowdown and the collapse of commodity prices have taken their toll on Latin America, which is now moving towards negative growth this year, according to the IMF and the World Bank.