North America
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In this round-up, PBoC sets a volatile fix for USD/CNY suggesting it has changed its methodology again, JP Morgan AM gets approval for a new MRF product, BlackRock boosts holdings in Chinese ADRs by 500% and Safe plans more RMB convertibility schemes in FTZs. Plus, a recap of the top GlobalRMB stories this week. -
Apple’s $12bn nine tranche bond this week deserved plaudits for kick-starting the US corporate bond market after weeks of nerves over volatility.
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Apple's $12bn nine-tranche bond this week has not only kick-started a US corporate bond market that had been drained by weeks of volatility, but also signalled the beginning of a wave of supply from US issuers that is expected to hit European shores.
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Regulators in the US are close to proposing rules that would require banks to lock in derivatives counterparties in other countries to US resolution regimes and give up their termination rights.
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The shrinking of balance sheets has become a common theme in recent years, particularly in the financial sector. Investors are punishing banks that are either unwilling or unable to implement a more conservative financial strategy.
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US biotechnology company Amgen made its dash into primary corporate bond markets on Thursday with a dual tranche deal that took €2bn out of the market.
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HCL Technologies is preparing to launch a $1bn float in the US, which would make it the first Indian company to list there in more than two years.
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As Solera Holdings began on Tuesday in New York the last leg of its $2bn bond roadshow, investors in the US voiced their surprise at how negative some of its European counterparts remain about the success of the deal.
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Barclays has announced a swathe of debt capital markets promotions, several new desk heads, and a new structure for EMEA, following last week's changes to the DCM management team.
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A protracted slump in equity markets has pushed some risk measures in the US and Asia to extremes.
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The derivatives hedging strategies of big name oil producers in recent years have left them levered on swings in the spot price of oil — a position that makes them a risky but potentially lucrative bet for investors.
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Solera Holdings, the car insurance software maker, may be on the verge of abandoning its attempt to issue a $2bn high yield bond, according to three market sources in London.
