Americas
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A torrid week in secondary markets for Brazilian credits meant that no bankers were surprised that industrial conglomerate Cosan opted not to issue on Thursday having completed investor meetings on Wednesday ahead of a planned 144A/Reg S deal. -
Global finance needs global regulation. Everyone acknowledges it, but everyone ignores it.
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Earlier in July, every market tracked in our recurring indicator of option implied volatility showed pricing at above-average levels. US and European large-cap stocks had short term put options priced more than two standard deviations above their average levels. Hang Sang Index options were five standard deviations higher: as mainland investors discovered the sell button and margin calls rolled in, both A- and H-shares briefly gave back all of their gains year-to-date.
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Bayside Capital, a credit investment firm and affiliate of private equity house HIG Capital, has lost a managing director and a founding member of its European credit platform.
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ABN Amro was inundated with orders as it exploited a lack of subordinated supply by Yankee issuers to print its inaugural tier two offering in dollars.
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The FIG market cranked into life on Monday with Goldman Sachs’ €2.5bn dual tranche offering proving there is demand at both the long and short ends of the curve.
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HSBC has named Greg Pierce head of markets, Americas, as the previous head Didier Deschamps moves to a strategic role.
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New guidance from the US Internal Revenue Service has left many tax advisers baffled about how to treat over-the-counter options on baskets of securities dictated by models.
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Caribbean island nation Jamaica filed a bond shelf with the SEC for issuance of up to $3bn on Tuesday, taking it one step closer to a much anticipated deal that would be at least partly used to finance PetroCaribe loans owed to Venezuela.
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The US Federal Reserve has revised its rules on calculating how much extra capital big banks need to hold, so that banks which use more short term funding need bigger capital buffers.
