JP Morgan
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Investors in US banks might be looking forward to regulatory easing under President Trump’s administration, backed by a Republican Congress. They might eventually see some benefit, but a steeper yield curve is much more important.
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Egypt opened books on its triple tranche dollar bond on Tuesday amid a swell of positive sentiment towards the country following recent comments by the IMF noting high satisfaction with its progress under its extended fund facility. -
Neerg Energy is set to become the second Indian corporate to sell a dollar green bond, having hired six firms to arrange meetings with global accounts on Tuesday.
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JP Morgan has boosted its China team with a new senior hire to its emerging markets economic research unit.
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Metals and mining company Vedanta Resources jumped back into the international market on Tuesday with a 5.5 year transaction, hoping to secure a dollar deal before markets become quiet for the Chinese New Year holidays.
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The Nordic Investment Bank and Province of Quebec are set to hit the five year part of the dollar curve on Tuesday, a trade that has returned some bumper deals for public sector borrowers so far in 2017.
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The major US banks posted surging fixed income numbers in the fourth quarter last year, driven by the Donald Trump and Fed-inspired steepening yield curve, and a flurry of trading around the election itself. This performance turned the year’s normal progress on its end, as a strong fourth quarter made up for a lacklustre first.
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The tally of sterling high yield bond sales in January is on course to reach £2bn, a sensational reversal from 2016’s entire first quarter without issuance in the currency, with several issues this week despite news that the UK will seek to leave the EU single market.
