United States

The US corporate bond market roared back to life after the Labor Day holiday with a torrent of supply that set the dollar market on course for its busiest September on record.

Last week’s rollout of margin rules for uncleared swaps in the US, Canada and Japan has been characterised by some participants as a ‘mad scramble’ that was lucky to muddle across the finish line without disaster. But having observed the challenges the US faced, European regulators must think carefully about how they implement their own margin deadlines, sources have warned.

CME Group has expanded its reach in both Asia and Latin America, with Hong Kong and Mexico recognising the firm as a central counterparty (CCP).

Thermo Fisher Scientific, the US medical equipment manufacturer, on Wednesday pulled in €6.6bn of orders for a €1.6bn dual tranche transaction backing its acquisition of FEI on Wednesday.

Adams Street Partners has added four to its private debt team in New York as it looks to expand the business following the hires of Oaktree executives Bill Sacher and Shahab Rashid in January.

The US Commodity Trading Futures Commission (CTFC) is divided over derivative rules as it agreed by split vote on Thursday to accept substituted compliance comparability for Japan uncleared margin rules. And one of its three commissioners, Sharon Bowen, raised a number of concerns for systemic financial risk as she voted against the motion.

Emerging market economic growth managed to hang on to much of its momentum over August, according to the latest release of the IHS Markit Emerging Market Composite PMI index.

Eris Exchange, the US-based futures exchange group, has opened a London office and hired a long-serving Barclays banker to oversee the European operations.

The $8.8bn merger between UK software company Micro Focus and assets of Hewlett Packard Enterprise has gifted the loan market a $5.5bn deal, one of the largest in the UK this year.

US-listed Chinese travel company Ctrip.com International has raised $2.2bn after pricing a convertible bond and a block of American Depositary Shares.

The International Swaps and Derivatives Association has published a document to help market participants navigate the challenges of trading with counterparties in China.

Royal Bank of Scotland and Nationwide Building Society set out to raise loss-absorbing debt on Wednesday, as UK credits took advantage of a post-Brexit boost to access funding in the still-popular dollar markets.