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Few Latin American debt bankers gave the impression they could predict levels of new issuance in the coming weeks with much certainty with predictions for August ranging from “totally dead” to “much busier than usual” on Thursday afternoon.

Tobam, a Paris asset manager, is preparing to launch new funds in European credit and emerging market debt, which will bring its innovative investing approach to European fixed income for the first time.

Jamaica’s $2bn bond sale on Thursday showed that bond markets were “constructive as well as cautious” said LatAm debt bankers, though the sovereign was seen paying up for its dual tranche deal.

A torrid week in secondary markets for Brazilian credits meant that no bankers were surprised that industrial conglomerate Cosan opted not to issue on Thursday having completed investor meetings on Wednesday ahead of a planned 144A/Reg S deal.

Cairnduff returns to Europe — BNPP hires for EM syndicate — LeMaire leaves UniCredit — New FIG DCM head at RBS

Earlier in July, every market tracked in our recurring indicator of option implied volatility showed pricing at above-average levels. US and European large-cap stocks had short term put options priced more than two standard deviations above their average levels. Hang Sang Index options were five standard deviations higher: as mainland investors discovered the sell button and margin calls rolled in, both A- and H-shares briefly gave back all of their gains year-to-date.

The European high yield market this week saw towering deals like SoftBank’s $4.5bn and Synlab’s €1.1bn, but investors also found a place in their portfolios for smaller notes.

Marketing began this week for leveraged loans of €725m backing the merger of French private healthcare groups Vedici and Vitalia.

The public sector euro market is regaining some colour after a debilitating combination of Greek debt sickness and quantitative easing exhaustion — but despite a prognosis for a strong September, the sector is still far from full health.

Germany dominated covered bond supply this week with four banks raising €2.5bn after collecting orders of nearly €6bn in total.

Beni Stabili, the Italian property company largely owned by Foncière des Régions, priced on Thursday a €200m convertible bond at a 0.875% coupon and 32.5% conversion premium.

Verallia, the French glass bottle maker, has accelerated the bookbuilding for a €1bn leveraged loan as investors have gobbled up the acquisition debt, asking for big tickets.