United States

Chinese e-commerce platform Pinduoduo has opened books for a convertible bond backed by its American Depository Shares, in what has become an increasingly popular corner of the equity-linked market.

In this round-up, the US exempted 400 Chinese goods from import tariffs while China cancelled trips to US farms, two top Chinese regulators jointly addressed funding difficulties facing smaller corporations and custom authorities detained a FedEx pilot on suspicion of carrying ammunition.

In this round-up, deputy-level trade negotiators from China and the US have met, the People’s Bank of China left the medium-term lending facility rate unchanged and the Shanghai government issued more measures to attract foreign investment.

In this round-up, the gap between Japan's and China’s holdings of US Treasuries widened, Moody’s downgraded Hong Kong's outlook and Bank of China Manila branch gained renminbi clearing bank status.

The US corporate bond market shrugged off two market interventions by the Federal Reserve this week — an emergency funding injection and an arguably underwhelming rate cut — as supply picked up on Thursday with trades from Wal-Mart and Volkswagen.

Wells Fargo hasn't wasted time in the bond market this week. It launched a euro senior bond on Wednesday, a day after raising sterling debt. Concurrently, Spanish lender Kutxabank was marketing a senior non-preferred bond in euros, its debut in the format.

The US Federal Reserve is expected to cut its interest rates by 25bp on Wednesday, but investors are keeping a close watch on what the central bank says when it makes its policy announcement. Many are likely to be disappointed unless it hints at bigger cuts in the coming year.

The public is increasingly conscious of environmental challenges facing the ocean economy, and the capital markets are taking note. Industries using the oceans are numerous and fragmented, making allocating money in a sustainable way challenging. But some routes are open for investors looking to improve activities involving plastics, shipping and fishing. Jasper Cox reports.

US firms are turning to the convertible bond market in droves in order to issue cheap debt before a potential global economic downturn.

Chinese logistics company Best has sealed a $175m convertible bond, benefitting from a jumbo anchor order from Alibaba Group Holding.

Global Cloud Xchange (GCX), a subsidiary of India’s Reliance Communications, has filed for bankruptcy protection with a US court, and plans to carry out a potential debt-to-equity swap that could reduce its bond debt by $150m.

In this round-up, China’s industrial profit growth further declined, Chinese state media has hinted at more peacemaking gestures to the US and the London Stock Exchange (LSE) rejected the Hong Kong bourse’s acquisition offer in a strongly worded letter.