North America

National Bank of Canada and Bank of Nova Scotia joined the list of Canadian banks heading for euros on Wednesday, but bankers say the market is there for Europeans that want to use it.

Markets for VIX products suggest that many traders sold into last week's volatility spike, with mixed results.

Canadian Imperial Bank of Commerce and Toronto-Dominion Bank launched euro floaters on Tuesday morning, and bankers expect fellow North American banks to follow their lead in the next few sessions.

In the wake of a selloff despite People’s Bank of China easing, the China Financial Futures Exchange implemented a series of new rules designed to stop the pain.

Traders this week reversed the recently growing dispersion among some of Europe’s widest iTraxx Crossover credits, with Abengoa rallying sharply as three banks backed the company’s rights issue. But the reprieve was brief and against the tide, say some participants.

Equity capital market bankers, many of them having just completed the traditional late summer migration from deck chair to desktop, put on brave faces this week, as they took in the sudden collapse, then partial recovery, of global stocks.

Global equity and debt markets rallied on Tuesday, while volatility subsided, after the People’s Bank of China cut its one year lending rate. But for hard hit emerging markets, more pain could be on the way.

The International Finance Corp (IFC) will head to the Middle East for investor meetings later this month after receiving a rating for its prospective $100m sukuk.

For the third quarter this year (April to July), profits at Royal Bank of Canada’s capital markets division fell, but the numbers still look strong.

The recent high volatility across equity markets has opened up opportunities for traders to deploy strategies that were unprofitable during long periods during the post-global financial crisis era.

The International Finance Corp (IFC) is planning just a $100m sized deal for its second ever sukuk transaction, according to a Standard & Poor’s rating report released on Wednesday.

Frankfurt-listed Snowbird, a Chinese down manufacturer, has cancelled plans to seek a secondary listing in Singapore, amid a wave of panic selling that has gripped stock markets this week.