Americas

Global equity and debt markets rallied on Tuesday, while volatility subsided, after the People’s Bank of China cut its one year lending rate. But for hard hit emerging markets, more pain could be on the way.

The International Finance Corp (IFC) will head to the Middle East for investor meetings later this month after receiving a rating for its prospective $100m sukuk.

For the third quarter this year (April to July), profits at Royal Bank of Canada’s capital markets division fell, but the numbers still look strong.

The recent high volatility across equity markets has opened up opportunities for traders to deploy strategies that were unprofitable during long periods during the post-global financial crisis era.

The International Finance Corp (IFC) is planning just a $100m sized deal for its second ever sukuk transaction, according to a Standard & Poor’s rating report released on Wednesday.

Frankfurt-listed Snowbird, a Chinese down manufacturer, has cancelled plans to seek a secondary listing in Singapore, amid a wave of panic selling that has gripped stock markets this week.

Even the strongest companies are not safe. When Mexican state oil company Pemex — alongside the Mexican sovereign — was awarded an A3 rating in 2014 the talk in the market was of the country’s energy reform helping it to bridge the gap between emerging and developed markets.

Whatever the wisdom of tailoring monetary policy to the gyrations of the global equity markets, the Fed’s likely caution could clear the way for a wall of FIG supply once calm returns.

Brazilian low-cost airline Gol Linhas Aereas Inteligentes became the latest high yield issuer from Latin America to be downgraded on Monday as recession in the region’s largest economy hit passenger demand.

Law firm Reed Smith has hired an experienced lawyer from Latham & Watkins to its global energy and natural resources group in Washington.

The global stock market meltdown caused a sharp selloff in US equities on Monday and the VIX index revealed investors’ fear of further falls.

Canada has printed a private medium term note in dollars for the first time in over a year.