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A strong start to public sector dollar issuance in 2016 fell away this week, as volatile swap spreads returned and worries over the health of the Chinese economy made printing further along the curve difficult.

Crédit Agricole and Intesa Sanpaolo required big premiums to reopen the euro and dollar additional tier one (AT1) markets this week, and bankers fear others will have to follow due to poor secondary liquidity in the product.

Macquarie Bank printed an eight year Swiss franc bond this week, mimicking an earlier effort from compatriot National Australia Bank.

It has been a big week for the International Swaps and Derivatives Association. The organisation moved to overhaul its credit determinations committee rules and broaden its board representation at the same time as undertaking a widely watched first credit event auction of the year and heading into new territory with a Novo Banco CDS external review.

Compagnie Générale de Géophysique, the French geological surveying company, has launched a three-for-one rights issue to raise €350m, as it struggles with its debt burden and oil companies cutting back on exploration.

CMC Markets, the financial spread betting firm founded by Peter Cruddas, has announced its long-expected intention to float in London.

Financial institution bond supply finally succumbed to the gathering global gloom this week, with busy sessions and slimming premiums giving way to a near halt in activity on Thursday.

Yankee banks took advantage of an improved market backdrop and US earnings blackout to jump into the dollar market this week.

Two sellers took advantage of a slightly upward trend in European markets on Wednesday to sell blocks of shares totalling €792m. Reassuringly to bankers, both deals got covered.

Covered bonds issued this week from Lloyds and Bank of Nova Scotia were among the largest seen this year and attracted the biggest order books.

Compagnie Générale de Géophysique, the French geological surveying company, has launched a three-for-one rights issue to raise €350m, as it struggles with its $2.5bn net debt burden as oil companies cut back on exploration.

Corporate dollar issuance was thin on the ground this week as earnings blackouts and AB InBev’s blockbuster $46bn trade throttled supply.