United States
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Institutional asset owners have increased their use of smart beta strategies in 2018, but the adoption rate has slowed compared with recent years, according to a survey by index provider FTSE Russell. -
European corporate bond market participants are hoping a public holiday on Monday will provide the market with a fillip when it reopens on Tuesday. There was a soft end to the prior week in both primary and secondary.
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Chinese tutoring service provider Puxin Education & Technology Group has filed draft documents for an IPO of American Depository Shares (ADS), targeting $300m, according to a banker on the deal.
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The Chinese central bank ushers in measures to support offshore renminbi liquidity ahead of MSCI’s A-share inclusion, the London Stock Exchange (LSE) showcases a grand plan to link its stock market with Shanghai, and Beijing and Washington hold back on tariffs after Liu He’s visit to the US.
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The highly anticipated IPO of iZettle, the Swedish payments company, has been called off, as PayPal has struck a deal to buy the company.
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The minefield of what a cryptocurrency is might have been able to remain comfortably in the realms of the philosophical, if it were not for the relentlessly grounded and literal approach of the US Internal Revenue Service.
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US pharmaceuticals company Mylan made its third visit to the euro corporate bond market in three years on Wednesday when it sold a €500m seven year deal with a €1.3bn order book.
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Keurig Green Mountain enjoyed the best of dollar bond market conditions as investors drank deep before a spike in US Treasury rates sent borrowers scurrying to the sidelines.
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Two A rated corporates went head to head in the euro corporate bond market on Monday as UK pharmaceuticals giant GlaxoSmithKline and US electrical systems manufacturer United Technologies Corp both launched triple-tranche deals, with two matching maturities involved in the €4.5bn of bonds.
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US and Yankee financials surprised to the upside with $15bn of dollar bond supply this week as they jumped into the market with front-end offerings ahead of a spike some expect in US Treasury yields.
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The first two days of this week saw more than €10bn of bond issuance, with more than a quarter of that volume made up of three deals sold by auto finance issuers. All three deals managed to achieve new issue premiums of 10bp or less, which was tighter than the majority of deals the week before.
