Americas

Weak demand signals from China and increasing currency volatility have extended losses for the copper futures and options market.

The dollar market for SSAs kept up this week’s sizzling form on Wednesday, as another issuer mandated for a benchmark — bringing the total for what is historically a quiet week to four deals.

The Republic of Peru took advantage of a deserted primary bond market in Latin America to issue its first new dollar benchmark since 2010 on Tuesday.

South Africa is experiencing a difficult week in credit markets, with credit default swaps that reference its debt hitting their widest point for two years.

Apax is acquiring a majority stake in FullBeauty Brands, the US plus-size fashion retailer, and has obtained the commitment of four banks to the deal’s debt financing.

Canadian investors are not being put off by China's recent equity and currency volatility. CI Investment, the first Canada-based firm to have obtained a Renminbi Qualified Foreign Institutional Investor (RQFII) licence, has told GlobalRMB that the China is still attractive to those wanting to increase their international exposure.

Project bond supply could be on the way from Colombia after Goldman Sachs committed to provide $1.2bn in the first leg of financing for the country’s $25bn so-called 4G infrastructure programme.

Brazilian refractories and minerals producer Magnesita Refratarios will buy back over three quarters of its outstanding bonds after a tender expired at the end of last week.

Whether prices in Brazilian bonds really have found a floor or not, several bond investors say they are now finding value in the country’s debt markets after a sustained sell-off was halted by a better-than-expected downgrade from Moody’s this week.

Markit is set to unveil changes in CDX HY, the US high yield credit derivatives index, aimed at making it more useful as a hedging tool for cash bond investors and reviving ailing trading volumes in high yield credit.

Widespread concern over China’s currency strategy put the brakes on European banks’ use of the dollar market this week, which began with a $7.5bn raid on the currency by four borrowers.

With China’s devaluation having brought rising uncertainty across global markets, volatility measures for many options on exchange traded funds have not kept pace with those that reference their underlying securities.