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Asian buyers driving callable SSA market have resurfaced in public benchmark deals
◆ Public sector issuers embrace hedge fund bid... ◆ ... as they flex in the swap market ◆ Car makers welcomed back to bond market
CEB plans to print more structured notes and may launch inaugural Sofr bond in 2026
SSA
New contracts cannot yet be traded in US
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  • The U.S. Financial Industry Regulatory Authority has fined Citigroup Global Markets, Morgan Stanley, UBS Financial Services and Wells Fargo Advisors a total of more than USD9.1 million for selling leveraged and inverse exchange-traded funds “without reasonable supervision and for not having a reasonable basis for recommending the securities.”
  • Bank of America is said to have hired Paul Baron as co-head of its equity derivatives sales team for Europe, the Middle East and Africa.
  • Bank of America is said to preparing to slash 2,000 jobs in its investment-banking, commercial banking and non-U.S. wealth management businesses.
  • William Lee, the former head of JPMorgan Chase’s equity derivatives business for the Asia-Pacific, said he is planning to launch a relative-value Asia-focused hedge fund as early as November.
  • ICAP has expanded its financial futures and options team with the hiring of Michael Drennan, formerly of MF Global, as head of North America future and options, based in Chicago, and has opened an office in Dubai.
  • JPMorgan Chase has named Charles McKenzie as head of client portfolio management in Europe, the Middle East and Africa on its fixed income team.