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Bilfinger succeeded in issuing its €250m bond on Thursday, having had to pull it in October. The German industrial services group obtained a €600m book and was able to knock 37.5bp off the yield.

The Federal Reserve is losing confidence in the US economy, global economic growth is flagging and Treasury yields are staggeringly low. Emerging market assets, meanwhile, are full of beans, as low rates and healthy risk appetite provide a magic combination for EM companies looking to raise capital. But the Fed is worried for a reason: there’s trouble ahead, write Lewis McLellan and Sam Kerr.

Kepler Cheuvreux has become the go-to option for European banks looking to breathe life into failing their equity capital markets businesses. David Rothnie reports.

Comco, the Swiss competition commission, has imposed fines of Sfr90m ($89.9m) and reached amicable settlements in relation to alleged FX rigging by traders from major banks.

The US Senate has approved the nomination of Dr. Heath Tarbert as chairman of the US Commodity Futures Trading Commission.

Emerging markets and developing economies (EMDEs) are at risk of a financial crisis as mounting debt levels are making them vulnerable to an economic shock, the World Bank warned this week.

The buyout loan backing Advent’s acquisition of Evonik’s methacrylates business has struggled in the first round of syndication, with leads increasing the OID and targeting the wide end of guidance.

Traton, Volkswagen’s heavy trucks division, is back on the market. The German auto giant relaunched the IPO after it was postponed in March owing to market volatility caused by trade tensions between the US and China. The deal is a key event for the equity capital markets in what has been a tricky year. It is important for those involved and for the wider market that it goes well. Yet conditions are not much better now, particularly for auto stocks, raising questions among investors about Traton’s timing, writes Aidan Gregory.

Commercial Property Assessed Clean Energy (PACE) finance firm CleanFund has appointed Lain Gutierrez as CEO, the company announced onTuesday. Gutierrez replaces Greg Saunders, who has served as CEO since 2015.The firm also announced a new round of private equity funding.

Swedish Export Credit Corp’s $650m floating rate note printed this week won the approval of bankers off the trade, as the demand for Libor-linked debt shows little sign of dissipating.

The World Bank won a strong response from sterling investors on Thursday, adding a second tranche to its deal midway through execution to get to a total deal size of £1bn.

Guarantor: Caisse de dépôt et placement du Québec