Pre-migration untagged articles

The European corporate bond market, which had barely got going for 2007, suffered its first casualty of the year this week as consumer goods group Procter & Gamble pulled the euro part of its euro/dollar $4bn equivalent funding exercise.

With the bonus season over, a bond syndicate merry-go-round has begun in London. The week saw a number of moves in what tends to be a stable world.

CP issuers found increased demand for longer dated US dollar paper this week as falling stockmarkets and ambiguous economic data lowered investors' interest rate expectations. One London-based dealer said that it amounted to "panic buying" at the longer end of the dollar CP curve.

Never let it be said that EuroWeek readers are not sometimes ahead of the news. Four weeks ago, in these columns, didn't we say that one of our best pals in the hedge fund industry had admitted that his largest individual long position was in ABN Amro shares and call options?

Swiss franc bonds sailed safely through the global equity storm this week and even enjoyed more diversity than usual among issuers.

The European Investment Bank launched its smallest ever Earn this week, capping its April 2024 benchmark at Eu3bn as market volatility sidelined many investors.

From the sunny streets of Zurich, our usually incisive Swiss bureau chief, the celebrated Brunhilde Grossrösti, reports confusing messages coming from Credit Suisse.

We haven't seen James Gorman since he was at Merrill Lynch, and we had barely thanked him for a very enjoyable and amusing lunch before he had jumped over the fence to Morgan Stanley.

The world's bond markets took a hammering this week as concerns about the US economy coalesced into a slump in Shanghai equities, while a stronger yen and concerns about further upward pressure on Japanese interest rates sparked fears of an unravelling of the global carry trade.

Headline-grabbing Euro-MTNs in inflation and interest rate structures were priced this week, despite choppy conditions amid the equity sell-off and upheaval in the credit markets.

Invicta Credit, a wholly owned subsidiary of Massachusetts Mutual Life Insurance Co, is poised to become only the third operating credit derivative product company (DPC) when it begins trading early next week.

Equity capital markets bankers remain optimistic about the prospects for IPOs in the coming months, despite a tumultuous week on global stockmarkets, prompted by a sharp fall in Chinese stocks and concerns over economic growth in the US.