Latin America

Political wrangling on both sides of the Atlantic this week produced contrasting fortunes for two currencies in futures markets, with the Mexican peso receiving a boost and the British pound slumping to some of its worst ever levels against the US dollar.

Bermuda’s first bond in three years traded up on Wednesday despite a mixed tone in Latin American credit markets.

The expected closing date of a loan to finance a 379 mile transmission line in Chile has been pushed back as negotiations over interest rate swap provisions continue.

Lat Am bond bankers said that Donald Trump’s floundering campaign to become US president could help Mexican borrowers as utility Comisión Federal de Electricidad (CFE) returned to bond markets with a 10 year benchmark.

Venezuelan state oil company PDVSA’s most recent attempt to exchange short-dated bonds has proven so popular that it has made the deal impossible, according to investors.

Mexican peso futures surged on Monday following the second US presidential debate, rising to their highest level in almost a month as Republican candidate Donald Trump failed to knock a dent in Hillary Clinton’s polls lead.

trueEX, the interest rate swap trading platform, claims to be the first swap execution facility to execute dealer to client Brazilian real interest rate swaps.

EM bond market conditions continue to attract riskier issuers, with Suriname set to meet US and European next week after spending Thursday and Friday in the Caribbean.

The vice-president of the New Development Bank, Paulo Nogueira Batista Junior, tells GlobalMarkets how his institution is lending on projects and issuing green bonds in line with the increasing concern with environmental issues

The Chinese Golden Week holidays meant not a lot was going in China, but there was still plenty of renminbi news occurring in the rest of the world. In this round-up, more updates on Shenzhen Connect rules, China-domiciled funds land on Clearstream, and Fred Bergsten says China is not a currency manipulator. Plus, a recap of our coverage this week.

US based bond investors said that Argentina’s first euro-denominated bond issue for 15 years came too tight for them, as bankers said this was likely to be exactly what the sovereign had been looking for. However, the level also looked tight for yield-hungry European accounts, with the bonds trading down around a point on Thursday.

Chile-based airline LATAM announced plans to raise $500m of bonds later this month after mandating six banks to arrange a roadshow and tender offer for existing notes.