Americas

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

European and US banks paid up this week as they unleashed a torrent of dollar supply amid improving market conditions.

Barclays already has a clear strategy for its investment bank and now it could be about to appoint the CEO to deliver it. But bigger questions lie ahead for all of Europe’s banks to remain competitive, writes David Rothnie.

Dollar pre-funding is unlikely to be a feature of the fourth quarter this year as crushed swap spreads and a lack of direction from the US Federal Reserve force out SSA borrowers.

Peru will meet investors in Europe next week ahead of a potential return to the euro bond market for the first time in more than a decade.

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.