RBC Capital Markets

A storming start to the supranational and agency sterling market showed no signs of abating this week as issuance volume reached a record year-to-date high — and another issuer lined up a deal for Friday.

The global sell-off in commodities and stocks has brought the US corporate bond market to a standstill, leaving corporate issuers unsure about when they can tap the market after the only trade of the week stumbled and AB InBev’s $46bn blockbuster continued to underperform.

Bank Nederlandse Gemeenten (BNG) is the first SSA borrower this week to brave the dollar bond market as tricky conditions in other markets make life tough for issuers.

Clydesdale and Yorkshire Bank Group, the UK mid-sized bank being spun off by National Australia Bank, has set the price range for its London IPO at a level that it hopes will prove compelling to investors in spite of market volatility.

FMS Wertmanagement has added £150m to a two year benchmark due to mature in April 2018.

CMC Markets, the financial spread betting firm founded by Peter Cruddas, has announced its long-expected intention to float in London.

Yankee banks took advantage of an improved market backdrop and US earnings blackout to jump into the dollar market this week.

CYBG, the UK mid-sized bank owned by National Australia Bank, will start building the book for its initial public offering in London next week.

This year’s first high profile IPO in Europe began today, when CMC Markets, the financial spread betting firm founded by Peter Cruddas, announced its long-expected intention to float in London.

Nestlé brought a £100m tap to market on Tuesday, seizing the chance for an opportunistic trade that enlarged a bond issued in December.

Investors barely charged Mediobanca and Royal Bank of Canada on Tuesday for printing new five year senior bonds.

Both KfW and the Council of Europe hit the books in sterling-denominated deals that raised £300m apiece.