United States

Jonathan Bock, who previously held the role of managing director and senior equity analyst at Wells Fargo, will become a managing director on Barings’ global private finance platform.

Equity investor sentiment remains fragile as buyers become more bearish on global markets because of heightened economic tensions between the US and China. Some investors see this as the most potent risk to equity markets since the eurozone debt crisis.

The Alternative Reference Rates Committee, a US body committed to transitioning markets away from interbank offered rates, this week published a letter it had sent to financial regulators and supervisors, asking for clarity on how derivatives contracts referencing the benchmarks would be impacted by amendments crafted to deal with their discontinuation.

Citigroup was marketing a series of callable senior bonds in euros on Tuesday, leading the way for US bank debt sales in the currency after second quarter reporting began on Friday.

Chinese start-up Pinduoduo, a challenger to e-commerce giant Alibaba Group, has launched bookbuilding for an up to $1.63bn IPO of American Depository Shares.

Cango, a Chinese online marketplace for vehicle sales, has started bookbuilding for its $150m IPO on the New York Stock Exchange.

The Financial Stability Board (FSB) on Monday laid out a framework to oversee the financial stability risks posed by the cryptocurrency market. However, the body warned that some public data could be “manipulated” due to “prohibited practices such as wash trading, spoofing and pump and dump”.

Chinese firm Aurora Mobile, also known as Jiguang, has kicked off the roadshow for its up to $126m Nasdaq IPO.

Opera, the internet browser, is marketing its $115m Nasdaq IPO at a substantial discount to comparable web browsers in China and Russia.

FCoin, a huge new cryptocurrency exchange by volume, is only two months old and was virtually unknown up until it brought the network of the second largest cryptocurrency in the world to a standstill and made a lot of people very angry.

Bank of Montreal made the most of US earnings blackouts and re-opened the dollar market this week with a $2.25bn deal amid improving market conditions.

Carmakers took advantage of a light calendar and an improving backdrop to reopen the dollar bond market after a week-long supply drought.