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  • Comcast wowed the dollar market with the fourth biggest corporate bond of all time as investors jumped in to produce a bulging order book against a strong technical backdrop.
  • The International Finance Corp became the first issuer to launch a green Komodo bond — an offshore bond in Indonesian rupiah — on September 28. But the World Bank had the same idea: it launched a sustainability bond in rupiah the following week.
  • The International Swaps and Derivatives Association (ISDA) has released a white paper on smart derivatives contracts, setting out a framework for how these could be built and function in scenarios such as defaults.
  • American real estate investment trust (REIT) WP Carey paid a significant premium when it sold its second euro deal of 2018 on Tuesday. Despite the lack of reverse Yankee issuance this year, investors needed some persuading to buy the 7.5 year deal.
  • Atom, a UK challenger bank, priced its first RMBS deal on Wednesday, retaining some of the triple-A bonds while placing the rest with UK investors.
  • IDB Invest, the private sector arm of the Inter-American Development Bank, made a rare visit to the market on Thursday against a backdrop of rapidly rising US Treasury yields. The turbulent backdrop looked to have little impact on the trade, however.
  • Italy bowed to pressure — some from the markets, but some from eurozone politicians — and revised down its budget deficit target this week. But the European Union should not go too hard on the country for the long-term health of the union.
  • LeasePlan, the Dutch car leasing company, has launched its IPO on the Amsterdam and Brussels bourses, having filed an intention to float document on Thursday.
  • The European Parliament’s influential economic affairs committee has published a draft report proposing to bring the ‘no-action letter’ to Europe, a move which has been on the finance industry’s wishlist for years.
  • The State of California has bought $200m of short dated green bonds from the World Bank, the latest stage in a relationship that stretches back to the issuer’s first dollar green bond in 2009.
  • The Spanish covered bond market faces a day of reckoning now that the European Central Bank will be buying a lot less of it leading Barclays analysts to recommend investors look elsewhere. However, others say Cédulas supply is likely to remain limited through the course of next year, and given the market’s "terrible liquidity", executing any trade ideas in the secondary is likely to prove a non-starter.
  • The IPO of Tuscany cigar manufacturer Sigaro Toscano was postponed this week following a spate of volatility in Italian markets following the announcement of the government's proposed budget. However, the Milan listing of Piovan, which makes equipment for plastics processing, is still set to go ahead after a pricing range on the deal was set on Thursday.