North America

Atlantica Yield, the UK-based energy yieldco that was formerly Abengoa Yield, abandoned a $300m eight year high yield bond issue on Tuesday, as yields in the market reached their highest for over two years.

HSBC Canada opened books on Tuesday for its first covered bond and followed in the same three year maturity, and with the same starting spread, as DBS Bank's issue on Monday. But, after several hours, when the spread was fixed at the initial level, lead managers failed to update investors on the order book size, leading some to question how well the deal was going.

Dan Berkovitz, the US Commodity Futures Trading Commission’s newly appointed Democratic commissioner, has selected a new chief of staff and special counsel to assist him.

Europe’s banks continued to lose global significance, according to the Financial Stability Board’s 2018 list of global systemically important banks (G-SIBs), although Groupe BPCE was re-added to the list. The French bank says this will not affect its funding plans.

In this round-up, wealthy Chinese individual investors now have access to local government bonds, Russian and Chinese leaders in the financial industry are meeting to strengthen mutual market access, and northbound trading volume via Stock Connect reached Rmb8.77tn.

The two A-rated new issues shown to Lat Am bond buyers last week both traded well on Friday, but it was a different story for the bulk of the region as bankers have little hope of deals during the Thanksgiving week.

A strong bond market return from Bermuda on Thursday did little to cheer Latin America DCM bankers about prospects for the rest of the year as Brazilian paper company Klabin became the latest company from the region to wait after completing investor meetings.

A slide in the price of oil has put pressure on energy-related bonds in the US high yield market, which contains a large proportion of energy issuers.

The first US Access to Nutrition Index has been published for investors, aiming to guide them on which big food companies are doing better and worse at feeding the American public healthily.

Recent deterioration in credit quality, deal terms and potential recovery rates may be storing up trouble in the leveraged loan market but market sources in Europe fear that many of their peers are taking on these risks with no heed to their future impact.

The dollar bond market was brought to a standstill on Thursday, capping a tough week that saw around 15 borrowers abandon funding plans due to volatility.

International law firm Dorsey & Whitney has added four new people to its US-China team in a bid to take advantage of continuous flow of business between the two countries.