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Matalan’s credit spreads surged wider this week and put pressure on other European retailers after the company dropped an earnings bombshell.

A Berlin Hyp €500m five year was the success story of covered bonds issued this week from banks in the eurozone, standing out among deals that also included bonds from Caisse Francaise De Financement Local (Caffil) and Raiffeisenlandesbank Niederösterreich-Wien (RLB-NW).

The US investment grade market continued to show its resilience as a backlog of M&A related financings began to emerge amid improving market conditions.

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.

In the latest shot fired in the product war between exchanges, CME Group has unveiled a new lead futures contract to compete with the London Metal Exchange.

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.

Rentenbank this week jumped on pent-up demand for Australian dollar paper, printing the largest long dated Kangaroo bond from a public sector borrower since July.

With pharma firms under intense scrutiny in the US, Concordia Healthcare Corp has dropped a planned $950m bond for its $3.5bn acquisition of Amdipharm Mercury, as the debt financing encountered some resistance from investors. Max Bower reports.

Lithuania landed its longest, largest and lowest yielding deal ever in one fell swoop this week. But with the eurozone sovereign’s order book dominated by rates buyers rather than emerging market accounts, the deal has implications for Spain just as much as Slovenia.

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

European and US banks paid up this week as they unleashed a torrent of dollar supply amid improving market conditions.

Kuka, the robotics and automation company headquartered in Augsburg, Germany, has issued a €250m Schuldschein note.