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Four issuers, sovereign and sub-sovereign, are drawing closer to their debuts in China’s Panda bond market, as they seek to take advantage of falling yields in the Mainland, sources told GlobalRMB.

There is a sense that banks in the Middle East are being encouraged to pledge allegiance in the public bond markets to either Saudi Arabia and the United Arab Emirates or to Qatar, as the diplomatic tensions between the two sides rumble on. But in the MTN market it is becoming clear that no such division exists.

CEEMEA public bond volumes plummeted in June after a stellar start to the year — but there was no shift to the private placement market, as is sometimes the case. In fact, MTN volumes sank to their lowest level in five months as investors there, too, became more risk averse in the face of falling local currencies and rising US rates.

After a tough run for issuers, the euro corporate bond market appears to have headed for its summer holiday early this year. The sterling market, however, kept investors busy last week, and the Bank of England’s monetary policy committee meeting in August is being closely watched.

US president Donald Trump's meeting with his Russian counterpart Vladimir Putin had emerging markets fund managers debating what, if anything, the warmer tones between the two could mean for the future of US sanctions on Russia.

The Republic of Angola has tapped the $1.25bn 9.375% 2048s it sold in May for a further $500m, marking the first dollar bond printed in the CEEMEA market for over a month. The deal was anchored by reverse enquiry.

Italian electricity network operator Terna sold its first green bond on Monday and was rewarded with an order book that was more than 5.5 times oversubscribed.

Carmakers took advantage of a light calendar and an improving backdrop to reopen the dollar bond market after a week-long supply drought.

The sterling corporate bond market has enjoyed its busiest two weeks of 2018 as a number of non-domestic funders decided the move in the cross currency basis swap to a five year high was too good to be ignored.

UK healthcare property company Assura extended the recent run of sterling corporate bond issuance on Thursday when its debut deal became the third trade issued in the currency in as many days.

In a sign of warming relations between China and Germany, regulators in China gave Deutsche Bank the licence to underwrite corporate bonds in the interbank market. But the bank has its sights set on a bigger prize — the right to joint lead underwrite Panda bonds for corporate issuers.

German property company Aroundtown raised funding in a fifth different currency of 2018 on Wednesday, when it saw an opportunity to issue corporate bonds more cheaply in sterling than in euros.