North America

Primary issuance of euro corporate bonds is catching up fast with the €134bn issued in the first half of 2015 .

Credit Suisse booked its second straight quarterly loss, but beat investor expectations with a win in its wealth management units — the centrepiece of the bank’s turnaround strategy.

Citi has made two senior appointments in its global equities division to fill the gap left by former head Derek Bandeen, who is retiring from the firm.

Concerns of rising central clearing costs are pushing derivative market participants to step up compression initiatives and shrink trade volumes to a post-2007 low, according to an industry report.

A gulf is opening up between wider financial market valuations and those of oil traders, who are pricing options to reflect the lowest chance of a downturn so far this year, even as fundamental risks mount.

As the $100bn-plus IPO of Saudi Aramco nears its launch, the UK’s Telegraph has most recently hinted at a three-way foreign listing, conducted across London, New York and Hong Kong. Columnist Philippe Espinasse looks at the practicalities and advantages (as well as disadvantages) for the oil behemoth of listing in Asia.

The US Department of Labor’s new conflict of interest regulations will change the way structured products are packaged and sold to retail retirement accounts, law firm Morrison & Foerster has warned. And although implementation is nearly a year away, the scope and complexity of likely programme changes require immediate attention from both manufacturers and distributors of structured products.

Money market fund reform regulation that comes into force in October this year will have serious consequences for banks’ funding. What are they doing about it?

The efforts of regulators to curb the potential for systemic shock caused when big banks fail took a step forward this week, as the US Federal Reserve Board proposed rules that would enforce stays on contractual termination rights between counterparties in different countries. But there are still strong incentives for buyside participants to oppose the plans.

Barclays and BNP Paribas became the first European banks to tap the Yankee market for subordinated paper for almost a month this week.

Oil giant Shell led a big surge in dollar bond market issuance this week as a procession of blue chip corporates emerged from earnings blackout to take advantage of a strong backdrop and print almost $20bn in fresh supply.

Senior policymakers at the ADB annual meetings appeared non-plussed about a Donald Trump US presidency and were reluctant to be drawn — although one expert doubted the Republican challenger knew what the ADB was.