United States

Lloyds, Dexia Crédit Local and Wells Fargo have all sought dollar funding this week, turning away from a bare European market to take advantage of a brighter tone in the US after bank results.

The dollar has been left as the only accessible currency for European banks looking to print benchmark debt so far this week, as even covered bonds succumb to a global market rout.

BeiGene is looking to raise $132m from a Nasdaq IPO, with the firm kicking off bookbuilding on Tuesday for what will be the year’s first listing of a Chinese issuer in the US.

Forcing more companies to register as swap dealers would be "destabilising" to banks and "would undermine rather than promote proper risk management" among banks and their customers, according to counsel for the American Bankers Association.

Derivatives traders are positioning for more pressure on crude oil prices as Iranian production comes on line and the global supply glut continues.

Markets and banking helped drive Citi’s better-than-expected fourth quarter earnings, but the results still failed to convince investors that the bank has a clear path to growth.

Chinese company Haier has enlisted three lenders to fund its $5.4bn acquisition of Kentucky headquartered GE Appliances.

This was the supposed to be the week of the bears. Research analysts warned of economic doom, declaring that the savage sell-offs of the new year were just a foretaste of carnage to come.

Anheuser-Busch InBev’s $46bn seven tranche bond issue this week defied expectations that the brewer would have to pay up to finance its takeover of SAB Miller. InBev took out nearly two-thirds of its acquisition financing in one go.

Crédit Agricole and Intesa Sanpaolo required big premiums to reopen the euro and dollar additional tier one (AT1) markets this week, and bankers fear others will have to follow due to poor secondary liquidity in the product.

It has been a big week for the International Swaps and Derivatives Association. The organisation moved to overhaul its credit determinations committee rules and broaden its board representation at the same time as undertaking a widely watched first credit event auction of the year and heading into new territory with a Novo Banco CDS external review.

Yankee banks took advantage of an improved market backdrop and US earnings blackout to jump into the dollar market this week.