United States
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KBC Group was able to approach fair value with its senior offering on Monday, as the positivity of the last few sessions encouraged less frequent issuers like it and Sydbank to try the market. Other banks not yet in blackout could take advantage of the window this week.
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Online property agent Shenzhen Fangdd Network Technology is looking to raise up to $500m from a listing in the US, according to a banker close to the deal.
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Investors in Hong Kong, Singapore, and the US can now begin to trade onshore Chinese bonds through Bloomberg terminals. The new access channel should slowly boost liquidity in China’s secondary bond market, said onshore bankers.
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Larry Fink, chief executive of BlackRock, became one of the most namechecked people in the responsible investing movement in 2018 when he affirmed that “Companies must benefit all of their stakeholders, including shareholders, employees, customers and the communities in which they operate.”
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Wall Street banks returned to the dollar market after reporting earnings this week, but while order books bulged, Yankee banks stayed on the sidelines.
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The new-look Fox Corp made its dollar bond debut this week as the technical backdrop in the investment grade continued to improve with tightening spreads and thinner new issue concessions.
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Industry body the Futures Industry Association (FIA) has submitted a lengthy letter to the Basel Committee for Banking Supervision (BCBS) lobbying for changes to the leverage ratio and how it interacts with derivatives clearing.
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It will probably be recalled as one of the worst quarters since the financial crisis. But the market's anxieties belie an economy where the indicators still look strong.
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Trading platform operator Tradeweb has received regulatory approvals to operate trading venues from Amsterdam as it solidifies its preparations for Brexit.
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The US government shutdown hit 24 days on Monday, a record kerfuffle for the country. As primary equity markets teams, most importantly at the Securities and Exchange Commission, run on skeleton crews, the IPO pipeline could come under some threat.
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On Monday, the US deliveries group FedEx returned to the euro corporate bond market for the first time since its debut visit in 2016 when it raised €3bn to finance its purchase of Dutch peer TNT Express. That deal was a four-tranche combination, but its latest deal was just a €500m 3.5 year deal to refinance the shortest tranche of the debut deal.
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On Friday, American data centre owner Digital Realty sold the first green corporate bond in euros of 2019, but investors did not have long to wait for the second one as Italian energy company Enel also chose to issue in the format.