United States

US regional lenders tapped the dollar market after reporting third quarter earnings this week, as bankers said that there were only a few remaining windows for issuance left in 2018.

Constellation Brands proved a rare highlight as a global market sell-off put the brakes on investment grade dollar bond issuance and sent borrowers scampering to the sidelines.

Tesla’s unsecured bond due 2025 climbed by two points in secondary trading on Wednesday and Thursday after the company reported it had made $312m of profit in the third quarter, beating market expectations.

This month’s global equity sell-off has devastated markets and investors' performance for the year, and Europe’s large equity capital markets houses are thinking of calling time on a challenging 2018 to give a battered buy-side some time to recover, writes Sam Kerr.

Global equity market volatility has cast a long shadow over the end of 2018, making equity capital markets issuance more difficult.

As investors push on with fighting the Banco Popular resolution decision, Pimco has succeeded in convincing a New York District Court to extract information from one of Santander’s US arms — but failed to convince to the court to force any transparency from the Spanish bank itself.

Chinese automotive marketplace TuanChe is planning to float on the Nasdaq for up to $150m, filing a draft prospectus with the US regulator on Tuesday.

Netflix has returned to the high yield market once again this week with a $2bn offering to fund its ever-increasing spend on its original films and TV shows. But instead of issuing high coupon debt, the company would have done better to look at a convert.

BlackRock has launched a suite of new investment products designed to allow investors to build a portfolio of ESG investments with six new exchange-traded funds.

Multilateral development banks are increasingly seeking creative ways to strengthen their arms by getting private capital to invest alongside them, magnifying their efforts. The International Finance Corp has long been one of the most active in this field, and thanks to a fund it launched five years ago, it last year achieved a co-investment ratio of over 100%.

The US Treasury declined to name China a currency manipulator in its latest report this week, contrary to expectations. But the last minute save did not prevent the renminbi from moving closer to the line in the sand with an exchange rate of seven per dollar.

Niu Technologies, China's leading maker of electric scooters, dragged its Nasdaq IPO over the line on Thursday after cutting the number of shares on offer and pricing almost 30% below the original marketing range.