United States
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Chinese listings in the US are continuing at a breakneck pace, with three more companies hitting the road this week. But a recent plummet in the price of freshly-listed micro-lender Qudian shows investors will need to hold their nerves. -
October will count as a relatively quiet month for most investment grade corporate bond markets, except sterling, which has already absorbed enough new paper to increase on its average monthly volume, according to Dealogic data.
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Sogou, the internet search arm of US-listed Sohu.com, has kicked off bookbuilding for a $585m IPO on the New York Stock Exchange.
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London based clearing house LCH Group has revealed that John Horkan, the head of its North American operations, will become COO of the company.
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China Lodging Group is set to bag about $425m through an offering of equity-linked notes, convertible into its Nasdaq-listed American Depository Shares.
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Equity volatility has threatened a comeback in the past week as markets prepared for the European Central Bank meeting on Thursday. But after the ECB performed within market expectations, announcing a 50% reduction in its bond buying programme, fear gauges settled down once again.
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While Verizon and Danone amassed combined order books totalling more than €22.5bn on Monday, US consumer goods company Procter & Gamble returned to the euro market somewhat under the radar for its first deal in the currency in two years.
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Corporate borrowers dashed to print as investment grade spreads maintained their record levels ahead of a sell-off in US Treasuries, as speculation grew that US president Donald Trump would appoint a policy hawk to replace Janet Yellen as Fed chief.
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A euro and sterling deal from Verizon was the only corporate bond deal in the pipeline when bankers returned to their desks on Monday morning.
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The dollar market sprung back to life as US banks dominated supply this week, with Goldman Sachs and Citigroup taking home more than $11bn through self-led trades.
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The SEC has extended a temporary olive branch to Europe in the form of a no-action relief statement, allowing US broker dealers to receive research payments from European money managers and advisory clients.
