United States

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.

The US Federal Home Loan Banks system has become the latest borrower to print bonds linked to Sofr, the planned replacement benchmark for dollar Libor.

Global equity markets suffered a tough start to the week, which kept the EMEA blocks largely quiet.

Duke Energy Corp became the latest US utility to issue green bonds last week, when it priced a $1bn dual tranche offering.

Online fashion platform Mogu is planning to float on the New York Stock Exchange for up to $200m, according to a filing with the US regulator.