Bank of America
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Investors in US banks might be looking forward to regulatory easing under President Trump’s administration, backed by a Republican Congress. They might eventually see some benefit, but a steeper yield curve is much more important.
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Neerg Energy is set to become the second Indian corporate to sell a dollar green bond, having hired six firms to arrange meetings with global accounts on Tuesday. -
Colombia glass and window maker Tecnoglass sold $210m of five year non-call three bonds on Monday in a deal anchored by US high yield investors.
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The Nordic Investment Bank and Province of Quebec are set to hit the five year part of the dollar curve on Tuesday, a trade that has returned some bumper deals for public sector borrowers so far in 2017.
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Discount retailer B&M will launch on Tuesday its £250m debut high yield bond in a so far ‘hard Brexit’-proof sterling market — but some investors are already warning about a potential glut of supply.
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Mainland brokerage Guotai Junan Securities Co is looking to follow its peers and list south of the border, according to a draft prospectus filed by its Hong Kong-listed subsidiary Guotai Junan International.
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The major US banks posted surging fixed income numbers in the fourth quarter last year, driven by the Donald Trump and Fed-inspired steepening yield curve, and a flurry of trading around the election itself. This performance turned the year’s normal progress on its end, as a strong fourth quarter made up for a lacklustre first.
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The tally of sterling high yield bond sales in January is on course to reach £2bn, a sensational reversal from 2016’s entire first quarter without issuance in the currency, with several issues this week despite news that the UK will seek to leave the EU single market.
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Guarantor: Canadian Pension Plan Investment Board
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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US bank bosses, facing investors at results announcements this week for the first time since Donald Trump’s election victory, tackled questions about whether the post-Trump optimism was justified — and how their businesses would benefit from easier regulation and lighter taxes.
