United States

Apple’s announcement this week that it would launch an extra $100bn share buy-back left European markets poised for the higher yields that an exodus of American cash might bring.

The high yield bonds electric vehicle maker Tesla sold last August dropped in the secondary market on Thursday, after its first quarter earnings showed the firm spent $1.1bn of cash during the quarter and CEO Elon Musk abruptly cut off analysts who asked questions during the company’s earnings call.

The International Organization of Securities Commissions on Thursday scolded central counterparties for not doing enough to implement policies to ensure their stability.

Corporates are hoping for a bumper month for issuance in dollar bonds as M&A funders hit the market after a record April.

Deutsche Bank is looking to shift up to $9.7bn of dollar-denominated debt from European issuance entities to its New York branch, as part of an effort to avoid being taxed more heavily under US president Donald Trump’s incoming tax reforms.

Thunder Bridge Acquisition has filed for a $200m Nasdaq IPO, set to be the first special purpose acquisition company (Spac) focused on China’s financial technology sector.

Huya, a live streaming platform backed by YY and Tencent, has started bookbuilding for its up to $180m IPO on the New York Stock Exchange.

High yield notes sold by co-working space company WeWork dropped in four straight days of secondary trading after they were sold last Wednesday, less than a week after buyers piled into the offering in an apparent vote of confidence for cash burning companies.

DTE Electric Co has become the newest member in the slowly growing club of investment grade US electric utility companies that have issued bonds explicitly marketed or certified as “green”.

The investment grade corporate bond market in the US finished April on a high, with more than $8bn of issuance on Monday. Issuers wanted to get the deals done before the US Federal Reserve met on Tuesday and it was a European issuers that led the way.

Fintech firm Paysafe was out in the leveraged loan market this week with a chunky $800m extension of the loan deal it sold for its own acquisition in November.

Miami International Securities Exchange (MIAX Options) has started publishing a new equity volatility index, based on options on the famous SPDR exchange-traded fund referencing the blue chip S&P 500.