Bank of America

Weak German GDP figures helped drive a bid for Bunds on Wednesday morning, bringing a degree of stability after two weeks of volatility in eurozone government bonds.

A government guarantee helped Trade and Development Bank of Mongolia (TDBM) make a strong return to the market with a $500m bond this week. A triple digit premium over the sovereign was not enough to entice most Asian investors to the trade, but European and US accounts lapped it up.

A pair of highly rated SSAs are set to dip into dollars on Wednesday, after two issuers had contrasting fortunes in the market on Tuesday.

The pipeline for corporate bonds is swelling rapidly, with three issuers mandating for European roadshows on Tuesday, including two from the eurozone’s periphery.

Trade and Development Bank of Mongolia launched a five year deal on Tuesday, May 12 in what is likely to be a real test of demand for high yield credits in Asia.

Brazilian cement company Cimento Tupi has missed a payment on its $185m senior unsecured notes due 2018 just eight months after tapping the bonds for a further $35m.

Global Yatirim Holding, the Turkish investment fund, on Monday abandoned the planned Istanbul IPO of Global Liman Işletmeleri, the cruise port operator it owns, because of low demand for the local tranche of the deal.

A pair of core eurozone agencies are set to dip into the short end of the dollar curve on Tuesday, but more issuance could come further out the curve.

Baozun Inc has opened books on its up to $154m IPO on the Nasdaq, with the trade getting some early traction from Chinese investors keen to get their hands in the country's first e-commerce listing in the US this year.

China Merchants Bank (CMB) New York branch scored an international bond market debut on May 7, receiving strong support from Asian investors but leaving enough money on the table to embrace the price demands of US investors. The borrower is the first of a string of Chinese banks lining up to sell bonds through their US branches.

As block trade bankers had predicted, the fireworks are starting again as companies emerge from blackouts. Five deals totalling €2.8bn were sold on Wednesday night, but there were no auctions: all of them were mandated trades, leaving banks away from the action with nothing to bid on.

As block trade bankers had predicted, the fireworks are starting again as companies emerge from blackouts. Five deals totalling €2.8bn were sold on Wednesday night, but there were no auctions: all of them were mandated trades, leaving banks away from the action with nothing to bid on.