Pre-migration untagged articles

The US Treasury market was kept on its toes this week by conflicting US economic data, which sent yields up and down.Having started the week around 4.83%, a rally drove the 10 year yield to a low of 4.56%. As the week neared its conclusion, Treasuries closed at 4.6%.

Wells Fargo delighted UK and European investors last Friday with a dual tranche fixed and floating euro and sterling trade.

A record $4.5bn of hybrid capital issuance has flooded the US in the past week, as part of a wave of issuers worldwide heading there to lock in the best hybrid pricings on offer.

Deerfield Capital Management has priced its first European CLO, Coltrane, which uses a new market value structure for the first time in Europe.

The swings and roundabouts of the US Treasury market gave highly rated European government agencies a nervous time this week as they priced benchmark dollar bond issues.

Donnelley, the US printer, narrowed by 35bp this week to 75bp/80bp yesterday afternoon (Thursday) in New York after announcing the acquisition of Banta Corporation, which supplies printing and supply chain management services. It had been at about 120bp before the news.

Dollar swap spreads slowly eroded this week, due to new issuance and the strong rally in the Treasury market.

General Electric Capital Corp (GECC) this week took advantage of strong international demand for yen securities by issuing a ¥65bn ($555m) five year global bond, its first global yen deal since 2001.

General Electric Capital Corp (GECC) this week took advantage of strong international demand for yen securities by issuing a ¥65bn ($555m) five year global bond, its first global yen deal since 2001.

The Samurai market, effectively closed to US issuers since April, received a breath of life last Friday (October 27) when the US Internal Revenue Service released new guidance clarifying the treatment of outstanding Samurais and new issues.

The International Finance Corp (IFC) is set to become the first foreign institution to issue a CFA franc denominated bond, in a deal to be lead managed by BNP Paribas and its West African subsidiary, BICI Bourse.