Pre-migration untagged articles

The wild US hybrid capital new issue market sobered up this week, with new issues coming at fair rather than aggressive levels, attracting more normal book sizes and investors showing they will back away from deals they think are too aggressively priced.

Convertible bonds are springing up around the world as demand grows for the product, spurred by buoyant equity markets and returning volatility.

Ripples of uncertainty spread across the Atlantic to London from the troubled US sub-prime housing market this week. In the ABX Index, which tracks the performance of credit default swaps based on sub-prime home equity loans and was launched last year, there has been a sharp sell-off.

Barclays Capital leads HSBC by $500m of third-party private placements, though the positions are reversed in table two, which includes self-led transactions, with HSBC leading Barclays by $1bn.

Keeping a close watch on the main central banks and trying to second-guess their next interest rate moves kept many market participants busy this week.

Keeping a close watch on the main central banks and trying to second-guess their next interest rate moves kept many market participants busy this week.

The dazzling debut of Fortress Investment Group shares on Wall Street last week had statisticians reaching for their record books, while competitors either applauded or reached for their sick-bags.