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  • Capital market sentiment in the UK has weakened as the country awaits the detail of its scheduled departure from the EU, if a couple of indicators published this week are anything to go by. However, even a bad Brexit could be welcomed by corporate financiers.
  • Green bond issuance has been in hot demand so far this year with investors allocating ever greater sums to sustainable and ethical mandates. However, it is not just the green labels on deals that are affecting their decisions.
  • Portfolio manager Bill Gross, regarded as a legend of the fixed income investment world, announced his retirement on Monday, after a torrid year for the global unconstrained bond fund he managed at Janus Henderson Investors.
  • Chengdu Economic and Technological Development Zone State-Owned Assets Investment, a Chinese local government financing vehicle (LGFV), raised a larger-than-expected $250m from its inaugural appearance in the offshore market that was over two months in the making.
  • Green bond watchers are putting out their forecasts for issuance this year, hoping for a return to growth after a disappointing 2018. The year has started decently, with at least $6bn issued so far, including this week’s debut issue from Telefónica, hailed as the first from the telecoms sector.
  • Pacific Gas & Electric has gone bankrupt with $52bn of debt, blaming forest fires that seared California during 2018. Vale, with $11bn, has been downgraded to the bottom edge of investment grade after its horrific dam burst last Friday.