United States

Investors have taken to Chinese education platform Youdao, covering its $101m IPO multiple times over days before the end of bookbuilding, according to a source close to the deal.

In this round-up, the phase-one trade deal between the US and China ran into problems, China relaxed regulations on foreign banks and insurers and the International Monetary Fund (IMF) warned slower global growth.

US corporate dollar bond supply is on course for a disappointing month after the size of the new issue calendar fell short of expectations for the second week running.

Bank of America became the first big US bank to emerge from third quarter earnings blackout and tap the dollar bond market this week.

Morgan Stanley posted fee growth in underwriting and advisory in its third quarter results on Thursday, leaving Goldman Sachs the outlier among the five big US banks in seeing revenues fall in investment banking.

A year on from being appointed chief executive, David Solomon is calling for patience in remodelling Goldman Sachs around new growth avenues. But there is much to admire on his first anniversary, writes David Rothnie.

Foreign banks are eager to gain full control of their Chinese securities joint ventures, after the regulator said it was abolishing a cap on foreign ownership. But fierce competition and difficult onshore regulations mean it is a long, rocky road ahead. Rebecca Feng reports.

A sharp rise in advisory and debt underwriting revenues drove Bank of America’s investment banking in the third quarter, its results showed on Wednesday.

Citigroup launched a senior unsecured bond in the sterling market on Wednesday, just as the UK government appeared to be making some progress over its Brexit deal with the EU.

Chinese online education platform Youdao has launched bookbuilding for its New York Stock Exchange listing, eyeing up to $100.8m from the deal.

JP Morgan, Citi and Goldman Sachs kicked off the third quarter results season for investment banks on Tuesday. While debt and equity underwriting revenues grew substantially at JP Morgan compared with the equivalent quarter of last year, they fell at Goldman.

In this round-up, China and the United States emerged out of a two-day trade talk with a “phase one” deal, China’s securities regulator set dates for further opening up of onshore financial markets and the Monetary Authority of Macau plans to launch a Nasdaq-like stock exchange for the offshore renminbi market.