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Proposals from US treasury secretary Steven Mnuchin to “advance American interests in international financial regulatory negotiations and meetings” are part of a long tradition in the country’s regulatory rule making — global norms are honoured more in the breach than the observance. At least now the US is willing to admit it.

Restricted tier one (RT1) bonds still do not make sense for Europe’s insurance industry and the asset class needs benchmark issuance before it can become a significant market in its own right. But the first deal in a major currency from ASR Nederland will be a very important line in the sand.

UPC Holding, the telecoms company owned by Liberty Global, and UK car glass specialist Belron announced multi-currency term loan offerings on Tuesday.

Chinese issuers and investors are likely to be largely absent from the dollar bond market for the next few weeks, as the country prepares for a crucial meeting of Communist Party officials. The slowdown will be a good chance for issuers from elsewhere in the region to tap the market — and demonstrate whether Asia’s bond market can remain standing without Chinese liquidity.

Mongolia’s macho new prime minister Ukhnaagiin Khurelsukh is taking the reins of a country that has suffered from excessive debt, a woeful credit rating and a corruption scandal which felled his predecessor. But despite the country’s struggles, his best policy approach may be simply to maintain the current course.

President Erdogan’s consolidation of power in April has translated into the stronger economic growth that he and his followers had hoped for. But questions about its sustainability are growing louder and they are feeding into an undercurrent of distrust among international investors. Virginia Furness reports.

Three high yield bond borrowers will be roadshowing for a combined volume of €1.2bn of new high yield bonds this week, with a mixture of familiar refinancing and leveraged buyout funding.

Europe’s leveraged loan market was set for more than €4bn of offerings this week, as borrowers revel in friendly pricing conditions. Large facilities such as the €1bn loan for DomusVi that was launched on Monday could achieve the tightest prices, said bankers.

Public sector bond market participants are having to wrap their heads around about as much regulation as those in other sectors. For some, the unique aspects of public sector issuance means there will probably be fewer headaches than elsewhere in the primary capital markets — although problems could still arise if volatility replaces the sanguine funding conditions issuers have enjoyed this year. By Craig McGlashan.

Fitch Ratings says China has made progress in downsizing the country’s shadow banking sector, the US Department of Commerce delays its decision over imposing tariffs on Chinese goods, and China Development Bank (CDB) loans to Africa total more than $50bn in the first half of this year.

A Japanese agency has pipped a Nordic one to the post in a tightly-fought race for the top dollar scores on BondMarker in the third quarter. Just 0.2 marks separate the top three scored dollar prints.

The People’s Bank of China sticks to its neutral monetary policy, China Securities Regulatory Commission (CSRC) says it wants to build first class investment banks in the domestic market, and FTSE Russell refrains from reclassifying the Chinese A-share market as a secondary emerging market.