Banks

Europe’s manufacturing sector faces a supply chain problem, with production struggling to cope with booming demand as economies reopen. Fixed income investors and analysts reckon this will likely be a temporary issue, and there is plenty of room for performance in bonds from the manufacturing sector.

The Republic of Rwanda hit the market on Monday morning with a 10 year dollar benchmark.

Lazard has hired a former Citigroup banker to run its equity capital markets advisory practice for Germany, Austria and Switzerland.

Credit Suisse is adding to its fintech coverage with the appointment of Orazio Tarda as global head of the sector in London. Tarda was previously global head of fintech at HSBC.

Credit investors are pleased with how banks performed in the EU stress test, though the sector lost more capital on average than it did in the previous exercise in 2018. The market was even sanguine about Banca Monte dei Paschi di Siena, which will be able to stick to its ‘fallback’ plan despite losing all its capital under the adverse scenario.

Barclays has proven the financial institutions bond market is still open for business in early August, after attracting strong demand on Monday for a large euro senior deal.

Eurizon, the asset management business owned by Intesa Sanpaolo, has hired Federica Calvetti from Deutsche Bank to lead its ESG and strategic activism team in Milan.

Bank of America has hired Uday Malhotra back from Goldman Sachs as head of leveraged finance origination in EMEA in London, while Eddie Martin, a managing director in the division, is relocating to the US.

Beijing Hyundai Auto Finance Co has kicked off its onshore auto loan ABS issuance for the second half of the year, returning with yet another revolving deal under the Autopia China series.

PB Fintech, parent of online insurance platform Policybazaar, has filed initials documents for a Rp60.17bn ($809.2m) IPO in India.

Online music platform Cloud Village is drumming up demand for its Hong Kong listing, according to a source familiar with the matter.

Macau's Luso International Bank sold an additional tier one bond last Friday, raising $248m.