North America

Wednesday’s sharp fall in the S&P 500, as the political storm around US president Donald Trump’s links with Russia intensified, has not turned into a market rout... yet. Equities bankers, indeed, are convinced it is a blip, saying investor appetite for stocks remains strong.

Acting Commodity Futures Trading Commission chairman Christopher Giancarlo courted the Fintech industry in a speech on Wednesday, promising to “transform” the agency into a “21st century digital regulator”.

Tech company Apple brought what has been called a “classic” Reverse Yankee trade this week, with the small spread between the issuer and far lower rated names that printed similar deals on the same day highlighting the premium US borrowers stump up for euros.

US cloud and physical data manager Iron Mountain’s €300m deal proved European investors can give US IT company debt a chance despite some troubled recent deals.

The Commodity Futures Trading Commission has again extended no-action relief for the Shanghai Clearing House (SHCH), advocating against enforcement action for failing to register as a Derivatives Clearing Organisation (DCO).

The Province of Manitoba raised £350m with its first ever sterling benchmark on Wednesday, becoming the fourth Canadian province to print in the currency this year.

Bright Scholar Education Holdings, which is set to price its $150m US float at the end of Wednesday, has received a big thumbs up from investors.

Steven Halperin, co-head of EMEA equity capital markets at Barclays Capital, is leaving that job and will return to the US, to a different role at Barclays. He is already spending more of his time in the US.

The Province of Quebec on Tuesday added the third strong Canadian sub-sovereign deal in sterling this year, tightening 2bp from guidance and pricing through its domestic curve with its first trade in the currency in over 20 years. The Province of Manitoba is attempting to copy the success of its peers in sterling, after mandating for a debut deal.

Verizon Communications will meet Swiss investors on Tuesday afternoon to discuss an inaugural Swiss franc bond.

Litigation finance house Burford Capital is set to become this year’s second issuer on the London Stock Exchange’s Order book for Retail Bonds (Orb).

Corporate bond issuers in Europe made a busy start with multi-tranche deals from energy company E.On and brewer AB InBev, as primary markets shrugged off the biggest ever cyber-attack on businesses around the world at the weekend.