North America

Nederlandse Waterschapsbank bounced back from a pulled deal last week to print its largest trade in any currency to date on Tuesday, as a Canadian province mandated for a euro deal.

Despite a lack of enthusiasm over future earnings and concerns over problems abroad, stock options in the US have already returned to the low volatility range they inhabited before the late August spike.

CME Group has launched an 'ultra' 10 year futures market product aimed at US rate hedgers and traders.

US cruise ship operator Carnival Corp has announced that it will roadshow for a potential euro bond offering that would mark its return to the euro market after a nine year hiatus.

Legal action being taken against US chemicals firm Chemours over health issues arising from water contamination has led to steep falls in its bond prices, but some market participants on Monday said they were confident the firm would recover quickly.

Wells Fargo secured strong demand for its longer dated senior paper on Monday, making it the second North American bank to target euros after third quarter results were published last week.

China’s BeiGene is eyeing a listing on the Nasdaq, with the drug maker tapping three banks for a $100m IPO.

Markets may have contributed to falls in profits in the investment banking divisions of the US majors that reported third quarter results this week, but there were some silver linings among the clouds, including a year-on-year reduction in legal bills of billions of dollars between them.

The US investment grade market continued to show its resilience as a backlog of M&A related financings began to emerge amid improving market conditions.

Dollar pre-funding is unlikely to be a feature of the fourth quarter this year as crushed swap spreads and a lack of direction from the US Federal Reserve force out SSA borrowers.

In the latest shot fired in the product war between exchanges, CME Group has unveiled a new lead futures contract to compete with the London Metal Exchange.

As the primary US banks release earnings for the third quarter there is little sign of panic in options markets despite overwhelmingly negative expectations.