Bank of America

Bank of America, on Monday, made its third trip to the dollar market since October 1 with an opportunistic dash amid tightening spreads in the run up to Thanksgiving.

Adecco and ASML won single digit new issue premiums on a positive day in the corporate bond market on Wednesday, but both issuers’ order books dropped when they tightened pricing.

The UK Debt Management Office will have to raise an additional £20.6bn this financial year, including an extra syndication, following the announcement of the government’s borrowing plans in Wednesday’s autumn statement by chancellor of the exchequer, Philip Hammond.

KfW was able to increase from its original size target and tighten pricing on Tuesday with the first public sector dollar bond of over $1bn since the election of Donald Trump as US president.

FMO is set to raise a minimum of Skr500m ($54.25m) with a seven year sustainability bond on Tuesday, while KfW plans to bring a dollar green bond.

The UK Debt Management Office has selected its syndicate and announced the maturity for its upcoming index-linked syndication.

The bounce in international equities since the election of Donald Trump as US president has led, as widely expected by market participants, to a wave of block trades this week, some of which were covered very quickly.

Financial markets have changed their whole investment mindset in the past seven days, as lightly as an actor changing clothes. Out has gone lower-for-longer pessimism and slavery to central banks; in has come a belief in growth and enthusiasm for higher rates and inflation, writes Jon Hay.

Vodafone’s plans for an IPO of its Indian unit suffered a setback after it wrote down the value of the business by €5bn ($5.4bn) amid fierce competition, saying the float will not happen before March.

Bayer successfully pulled off what was arguably this year’s biggest European ECM deal on Tuesday night, with a €4bn mandatory convertible and €1.5bn delta equity placement. But although both were fully sold and have traded stably, a good number of deal-playing investors are still putting in small orders.

Bayer, the German life sciences group, picked Tuesday night to launch the first part of its $19bn equity financing for its $66bn takeover of Monsanto. Bayer's deal comes as equity markets are revitalised by the new conviction that Western policy is shifting to reflation.

Vodafone will not launch an IPO for its India business before March, even as the UK telecommunications giant wrote down the value of its India arm by €5bn ($5.4bn) following mounting domestic competition.