North America

One thing needs to be made clear about a Trump presidency in the US: the president-elect is not a Wall Street Republican and he did not rely on the support of bankers to win the White House.

Deutsche Bank and HSBC are co-ordinating the loans for British American Tobacco’s acquisition of a 57.8% stake in Reynolds American.

Two corporates hit the new issue market on Thursday, one clinching a 0% yield and the other paying only a single digit new issue premium, despite volatility in rates markets.

UK banks will be allowed to use one year call structures to optimise the capital eligibility of their senior bonds, after the Bank of England published new rules governing the minimum requirement for own funds and eligible liabilities (MREL).

US and European equity investors have reacted with a degree of equanimity to Donald Trump’s capture of the White House, fastening on to the idea that he is likely to stimulate the US economy with deficit spending.

Citigroup has made a new appointment in its Americas equity capital markets business.

Velocity, a derivatives blockchain project, has closed, saying that financial derivatives “are a little too early” for the Ethereum ecosystem.

There was a benign response in the European leveraged loan market on Wednesday to Donald Trump's shock US election victory. How the result affects the post-summer repricing wave is a little more unclear, however, especially given the pipeline of new paper.

Donald Trump’s shock US election victory in the early hours of Wednesday caused a shockwave to course through derivative markets overnight. But by midday in London traders said the overall reaction was much more orderly than in the aftermath of the UK vote in June to leave the European Union - and by close of business some markets had made full scale retrenchment.

The European high yield market on Wednesday proved that it has learned at least one lesson from its Brexit experience: the unexpected does not mean market shutdown. Despite Donald Trump's surprise US presidential election win on Wednesday morning, HY market participants think issuance could resume quickly.

The FIG market looked set to shrug off Donald Trump’s surprise victory in the US presidential election on Wednesday, and bankers were optimistic that new issuance could restart in a matter of days.

Capital markets participants in Asia were digesting the news of Donald Trump’s victory in the US presidential election as markets in the region went into freefall. While bankers and investors admit that no market will be immune to the news, they are expecting a quick rebound in ECM, while debt issuers will take longer to come to terms with the result.