United States

US medical technology company Stryker is still looking to bring its debut euro transaction following its recent roadshow, but is waiting for market conditions to improve before pushing its triple-tranche offering into the market.

The US Federal Reserve has been raising rates for nearly three years now and was tapering its quantitative easing for two years before that. Meanwhile the European Central Bank was still cutting its rates and only in 2018 did it start tapering its quantitative easing. However, the change in the ECB’s policy may mean we see growth converging rather than diverging and it is something investors are already considering.

Atlantica Yield, the UK-based energy yieldco that was formerly Abengoa Yield, abandoned a $300m eight year high yield bond issue on Tuesday, as yields in the market reached their highest for over two years.

Dan Berkovitz, the US Commodity Futures Trading Commission’s newly appointed Democratic commissioner, has selected a new chief of staff and special counsel to assist him.

Europe’s banks continued to lose global significance, according to the Financial Stability Board’s 2018 list of global systemically important banks (G-SIBs), although Groupe BPCE was re-added to the list. The French bank says this will not affect its funding plans.

In this round-up, wealthy Chinese individual investors now have access to local government bonds, Russian and Chinese leaders in the financial industry are meeting to strengthen mutual market access, and northbound trading volume via Stock Connect reached Rmb8.77tn.

A slide in the price of oil has put pressure on energy-related bonds in the US high yield market, which contains a large proportion of energy issuers.

The first US Access to Nutrition Index has been published for investors, aiming to guide them on which big food companies are doing better and worse at feeding the American public healthily.

Recent deterioration in credit quality, deal terms and potential recovery rates may be storing up trouble in the leveraged loan market but market sources in Europe fear that many of their peers are taking on these risks with no heed to their future impact.

The dollar bond market was brought to a standstill on Thursday, capping a tough week that saw around 15 borrowers abandon funding plans due to volatility.

International law firm Dorsey & Whitney has added four new people to its US-China team in a bid to take advantage of continuous flow of business between the two countries.

MetLife, the US insurance company, has made an unusual investment as part of its impact investment portfolio, which has about $200m of assets. It is providing a revolving credit facility to an impact investment fund, to enable it to cope more easily with redemptions.