North America
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The head of the foremost derivatives regulator in the US, Christopher Giancarlo, has issued a warning to European regulators on incoming regulation, condemning “costs and regulatory burdens” to the US economy. -
Rentenbank will tap a resurgent long end dollar market on Tuesday, alongside a rare appearance in the currency from the Canadian sovereign in fives and a French agency in threes. This is only the second time in nearly two and a half years that issuers have peppered the whole of the dollar curve on the same day.
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The trend for corporate issuers in 2017 has been to sell bonds with longer tenors, but in among a five deal issuance spree on Monday was a couple of two year floating rate notes from rare issuers.
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On Monday, Whirlpool became the fourth US issuer to use the euro corporate bond market in the last 15 days when it sold a €600m 10 year deal, 12 months after it last visited the market.
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Four Seasons Education is closing books two days early on its $111m New York Stock Exchange listing, said a banker managing the transaction.
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China’s Jianpu Technology has launched bookbuilding for its IPO on the New York Stock Exchange, which could raise $236.3m.
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A top US regulator at the Commodity Futures Trading Commission on Thursday slammed the “one-size-fits-all philosophy” of the organisation's prior leadership.
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On Thursday, tobacco company Philip Morris sold a $2bn triple-tranche bond deal. On Friday, it was in Europe selling a €1bn dual-tranche transaction, taking advantage of the demand for longer tenors.
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The Ministry of Commerce (MofCom) completes the first draft of foreign investment law, regulators give BEA Union Investment Management the go-ahead to launch a wholly foreign owned enterprise (WFOE) in Shenzhen, and Renmin University’s vice president claims the renminbi will be fully convertible within five years.
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CME Group, one of the US's premier financial institutions, plans to launch futures on bitcoin. This will give investors a clean way to bet on the price of the cryptocurrency, whose price has soared eightfold this year.
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US President Donald Trump doesn’t normally stick to playing it safe. But by picking Jerome Powell to lead the Federal Reserve he has got the closest thing to Janet Yellen without having to reappoint the incumbent Fed chair to a second term.
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Capital markets breathed a sigh of relief on Thursday, as it became clear US president Donald Trump was going to pick Jerome Powell as the next Fed chair — a choice seen as most likely to keep the US equity bull run going, writes Sam Kerr.
