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With emerging market currencies taking a battering across the globe, local currency bond issues continue to be a tough ask. However, innovations in the Mexican market are providing an encouraging grounding for future deals.

Panic seems to have set into Latin American bond markets. Bids are disappearing, according to several traders and bankers, and volumes are well down on last year. But though market participants may need to readjust expectations, they should not be too disheartened.

The secondary market has become irrelevant for pricing covered bonds. Spreads only reflect the level at which the eurosystem is willing to buy at, and not the rest of the market. It is the strongest signal yet of the disruption the European Central Bank's purchasing is causing.

Summer may be in full flow but there is little sunny about public sector borrowers’ opinion of the effect of eurozone quantitative easing — with one worried about it creating a euro market “wasteland”. Tessa Wilkie and Craig McGlashan report.

Eurozone periphery sovereigns are again enjoying the kind of dropping yields they were used to at the start of 2015 — and conditions look like staying strong for issuers with auctions ahead.

European banks are being urged to use a wide open dollar market before the US Federal Reserve hikes rates later this year, with Royal Bank of Scotland and UBS already lining up dollar additional tier one trades, writes Tom Porter.

A pair of North American financial names took advantage of strong demand for shorter dated floating rate Australian dollar paper this week.

High-grade US dollar FIG issuance broke records for July as banks dominated the calendar.

Numericable set final pricing on its €800m leveraged loan late Monday, in a refinancing transaction that bankers said yielded few surprises with its speed and success.

Credit default swaps referencing Brazil hit their widest levels of the year this week, with the continuing crash in commodities weighing heavily on those names most exposed and adding to a raft of other woes for the country.

Several public sector borrowers got sub-benchmark dollar deals away this week, but despite rumours of a full blown benchmark coming next week, bankers are warning that conditions are below par.

Weener Plastik, the German plastic packaging systems provider, has allocated a €250m acquisition loan on the back of heavy oversubscription.