JP Morgan

A JP Morgan debt capital markets banker is leaving after a decade at the firm.

Axis Bank revived Indian green bond issuance this week with the country’s third international deal. Financial institutions are expected to dominate the pipeline for the rest of the year, as the challenge of issuing offshore deters other borrowers, writes Narae Kim.

Brent and WTI oil futures have risen to above $50 for the first time since November and July respectively, amid bullish short term positioning by aggressive managers and supportive supply data this week. But while traders called this a ‘psychological’ level for the commodity, physical markets are still sounding a note of caution.

The Argentine province that analysts consider to be the strongest of those left to issue this year will meet bond investors next week ahead of a potential $1bn bond.

GlobalCapital presents its annual Emerging Market Bond Awards 2016. These awards are determined entirely by a poll of market participants, and celebrate the outstanding issuers, funding officials, investment banks, bankers and rating agencies in the emerging markets between May 2015 and April 2016. Congratulations to the winners and nominees.

The IPOs of Philips Lighting and Maisons du Monde both reached successful conclusions on Thursday. Their books built gradually, which a banker said boded well for them to trade solidly when they are listed, unlike some recent soggy performers like Telepizza.

JP Morgan has announced internal promotions in its rates trading business, following the retirement of Carl Norrey, who ran the firm’s SSA business, straddling origination and trading.

Russia has sold its first Eurobond since 2013, drawing a book of over $7bn, according to analysts, but with doubt still high as to what proportion of that figure was from true overseas buyers.

China Three Gorges (CTG) made an impressive return to the bond market on Tuesday with a $1.5bn dual-tranche offering that was well-liked by investors, even though pricing was aggressive.

Monday night’s three equity block trades in Europe all led to decent trading in the stocks on Tuesday. They included CVC’s exit from Evonik Industries – scooped on a sole basis by JP Morgan, though Bank of America Merrill Lynch has worked on most of these deals.

KommuneKredit grabbed the first chance of the week to print five year dollars while other public sector issuers are set on 10 year deals.

Monday's three primary deals underperformed in the secondary market, causing deal flow to strike a lighter tone on Tuesday, with two corporates issuing modestly sized offerings.