JP Morgan

Wells Fargo secured strong demand for its longer dated senior paper on Monday, making it the second North American bank to target euros after third quarter results were published last week.

Legal & General PLC launched 30 year non-call 10 notes in the UK on Monday, giving investors their first taste of a sterling denominated tier two insurance deal since June.

Coffee Day Enterprises has priced its Rp11.94bn ($183m) IPO at the top end of guidance, finding more than enough demand from investors. The deal’s success, particularly thanks to interest from institutional accounts, has paved the way for the next big Indian listing as InterGlobe Aviation gets ready to take off.

Sino-Singapore Tianjin Eco-city (SSTEC) and Rizal Commercial Banking Corp are both eyeing the offshore bond market, with the issuers hiring banks for their respective offerings.

KfW has found stronger than expected demand after tapping the belly of its Kangaroo bond curve, as a Canadian province printed at the long end in the format.

JP Morgan launched seven year senior notes on Friday, giving many market participants hope that supply would return in earnest to the European FIG market next week.

Markets may have contributed to falls in profits in the investment banking divisions of the US majors that reported third quarter results this week, but there were some silver linings among the clouds, including a year-on-year reduction in legal bills of billions of dollars between them.

Dollar pre-funding is unlikely to be a feature of the fourth quarter this year as crushed swap spreads and a lack of direction from the US Federal Reserve force out SSA borrowers.

Senior SSA bankers are fretting that situations such as this week's clash between two Dutch agencies, which drove one of the pair to pull its deal, could become unavoidable, writes Craig McGlashan.

Garfunkelux, the German debt collection company, on Thursday issued £795m of notes in the first sizeable European high yield issue for three weeks. Market participants are now eager to see if other issuers finally follow in its steps.

Bank of Ireland and Caja Rural Unidas issued this week’s only two covered bonds from Europe’s periphery, both offering attractive concessions.

As the primary US banks release earnings for the third quarter there is little sign of panic in options markets despite overwhelmingly negative expectations.