United States

Nest, the UK national employment savings trust, has become the latest in “a flurry” of buyers to move into high yield bonds.

Bright Scholar Education Holdings’ decision to price its IPO above the range paid off handsomely as the stock surged over 30% on its debut on the New York Stock Exchange.

What, on Wednesday, seemed to be primary capital markets gung-ho for any deal imaginable by Thursday looked more like a market on the skids as concerns intensified over the endless controversies dogging US president Donald Trump’s administration.

Yankee and domestic financial institutions unleashed a funding frenzy on the dollar market with $18bn in supply, as a strong technical backdrop gave way to volatility later in the week.

Mizuho Americas has appointed Massimo Tassan-Solet to head of derivatives trading.

Corporate issuers remained on the sidelines this week as political concerns in the US and a government corruption scandal in Brazil stopped the dollar market’s hot streak in its tracks.

Wednesday’s sharp fall in the S&P 500, as the political storm around US president Donald Trump’s links with Russia intensified, has not turned into a market rout... yet. Equities bankers, indeed, are convinced it is a blip, saying investor appetite for stocks remains strong.

Acting Commodity Futures Trading Commission chairman Christopher Giancarlo courted the Fintech industry in a speech on Wednesday, promising to “transform” the agency into a “21st century digital regulator”.

Tech company Apple brought what has been called a “classic” Reverse Yankee trade this week, with the small spread between the issuer and far lower rated names that printed similar deals on the same day highlighting the premium US borrowers stump up for euros.

US cloud and physical data manager Iron Mountain’s €300m deal proved European investors can give US IT company debt a chance despite some troubled recent deals.

The Commodity Futures Trading Commission has again extended no-action relief for the Shanghai Clearing House (SHCH), advocating against enforcement action for failing to register as a Derivatives Clearing Organisation (DCO).

Bright Scholar Education Holdings, which is set to price its $150m US float at the end of Wednesday, has received a big thumbs up from investors.