United States
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The US Senate Agriculture Committee was expected to review legislation reauthorising the Commodity Futures Trading Commission (CFTC) on Thursday amid debate over the benefits of additional funding for financial regulators. -
Primary US bond market issuance slowed to a trickle this week as corporate America entered earnings blackout, restricting dollar supply to one jumbo M&A trade.
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Falling expectations for Japanese inflation and the dovish turn at the US Federal Reserve sent the yen higher last week. This left USD/JPY at the lowest level since October 2014 going into this week, with only a slight retracement on Thursday bringing solace to Japanese exporters.
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The Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC) have tossed out big bank plans to wind themselves up in a disaster situation, citing a string of failures in preparing the “living wills” which are supposed to guide regulators when a systemic firm goes down.
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Credit Suisse launched a three-tranche holdco senior deal worth $4.5bn on Wednesday, taking advantage of the US market's slimmer premiums and deeper liquidity.
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JP Morgan may have beaten expectations with a 22% drop in profits at its investment bank, but the severity of the decrease augurs ill for other banks this earnings season.
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The International Swaps and Derivatives Association and other industry bodies have called on global regulators to drop dual-sided derivatives trade reporting and instead accept an entity-based approach.
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Nomura’s restructuring of its overseas activities has led to several senior directors in leveraged finance in both the US and Europe leaving the bank this week.
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Relentless focus on political risks in the UK and US has prompted some overwrought analysis of option volatility curves.
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Yankee banks took full advantage of strong funding conditions and the undivided attention of investors to print a volley of senior paper this week, as Wall Street’s heavyweights skulked in earnings blackout.
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German carmaker BMW drove primary market activity this week, making a stunning debut as corporate America entered an earnings blackout.
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Four banks have teamed up with the Depository Trust & Clearing Corporation, Markit, and Axoni, a distributed ledger technology firm, to undertake the market’s first test of a blockchain solution for managing single name credit default swap post-trade events.
