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China Chinese central bank governor Zhou Xiaochuan this week said China's GDP grew by 8% in 2002. The figure was in line with preliminary estimates.

Snowy Hydro launched its keenly awaited A$500m three tranche deal yesterday (Thursday), with bankers hoping that it will finally open the floodgates for primary market issuance after a disappointingly quiet January. The hydroelectricity generator is to issue fixed and floating rate notes with seven and 10 year tenors, which are wrapped by XL Capital Assurance to give an AAA rating.

TradeWeb, the internet trading platform for fixed income instruments, added EuroCP to the platform on February 3 and nearly Eu1bn of EuroCP has been traded since launch. "We are pleased with how the first week of trading has gone, but we are realistic that we have a long way to go," said Lee Olesky, president of TradeWeb Group and chief executive of TradeWeb Europe. "All the feedback we have received on the buyside has been positive and the leading dealers are all anxious to support us. While I try not to make predictions, the first week has been very much in line with our expectations."

Rating: AA- Amount: Sfr150m

Deutsche Bank woke up Europe’s dormant equity capital markets on Tuesday with an innovative $1.06bn exchangeable into e-commerce company USA Interactive, a subsidiary of Vivendi Universal.

Deutsche Bank woke up Europe’s dormant equity capital markets on Tuesday with an innovative $1.06bn exchangeable into e-commerce company USA Interactive, a subsidiary of Vivendi Universal.

Fears over war with Iraq and limited funding needs will result in little new corporate bond supply in the coming weeks. However, those still waiting to tap the market include EADS, Deutsche Telekom and Parmalat. Parmalat plans to issue a Eu500m 30 year bond with a seven year put at 375bp over mid-swaps. The issue would mark the first use of this structure in the European corporate market. Abaxbank, Deutsche Bank, Morgan Stanley and UBM have been associated with the deal, but no mandate has been officially announced.

Sovereign/supranational borrowers dominated the market this week as investors focused on safe haven product. Italy is reportedly keen to take advantage of investor enthusiasm for sovereign risk and is roadshowing in the US via Merrill Lynch. Bankers are expecting a new global bond for the republic which will have something out of the ordinary either in terms of maturity or structure.

Do we detect some jockeying for position at Barclays Bank, where chief executive, Matt Barrett, may be moving onwards and upwards? The genial Irishman - he has binned his Canadian roots - has had a good run and now has his eye on the office of chairman, Sir Peter Middleton who, at the age of 69, is due to hang up his all-night dancing shoes.

Rating: Aaa/AAA Amount: Huf5bn (fungible with Huf10bn issue launched 09/01/03)

Rating: A2/BBB+ Amount: Skr400m

Guarantor: Yorkshire Water Services Ltd Rating: A2/A/A+