United States

After waiting nearly a month, US engineering firm Emerson Electric on Tuesday landed the dual tranche deal it roadshowed in December. The €1bn dual tranche offering was a good deal in its own right, but could also herald the return of the Reverse Yankee market in 2019.

The surprise decision by Jim Yong Kim to quit as president of the World Bank and join a private fund has triggered a race for the top job in development finance, at a time when the US, the Bank's largest shareholder, is hostile to multilateralism. By Phil Thornton

Research by a US thinktank shows that the World Bank will have to carry out major reform of its lending to China to meet US-driven goals to focus loans on projects with benefits outside wealthy provinces. By Phil Thornton

Danske Bank is waiting until activist investor Bill Browder gives a press conference before deciding whether to proceed with the sale of a senior non-preferred bond. News of the conference derailed the deal on Wednesday, after final terms and a $3bn size had already been set.

After a run of triple-B rated corporate bond issuance, A-rated names have returned to the market and paid lower premiums than the higher beta issuers had, but 10.75 years remains the longest tenor to date.

Danske Bank offered its senior non-preferred bond to dollar investors on Wednesday, after UniCredit raised $3bn in the format the day before.

UniCredit came to the dollar market on Tuesday, looking to sell a public senior non-preferred bond after its large private placement a few months ago. The bank was thought to be offering a large premium.

A benign start to the year for major equity indices could be just the comfort blocks bankers need to price deals before corporate blackouts begin.

Credit default swaps (CDS) are a complicated product. But the past year has presented a few examples of market participants resorting to ‘creative’ tactics to optimise payouts. If the market fails to respond to concerns around the viability of CDS, the product may have to be rethought.

The unexpected decision by Jim Yong Kim to stand down as World Bank president three years ahead of schedule will raise worries in the development community that Donald Trump will use the opportunity to select a political appointee. By Phil Thornton

Chris Concannon, Cboe Global Markets' COO and president, will leave the exchange group next week to join electronic trading platform MarketAxess in the same roles.

Danske Bank is looking to issue a senior non-preferred bond, giving primary market investors a chance to judge the institution after developments in a money laundering scandal have raised the prospect of it receiving a large fine from US authorities. Danske follows BNP Paribas, which paid up to print a new deal on Thursday.