United States

The US is top of every European banking chief executive’s to-do list for 2016, as they race to comply with new regulations that will define the future of their international ambitions. Consolidation beckons, writes David Rothnie.

UK banks have wasted no time in plundering a deep dollar market for holding company senior debt this week, while euro investors have been restricted to a variety show of covered bonds.

BGC Brokers, the interdealer broker, is making a push into the competitive world of over-the-counter derivatives portfolio compression and has already taken out over €800bn notional of swaptions.

European high yield specialists hope the continent's market can repeat in 2016 its sharp outperformance compared with the US market last year — but history suggests that the two markets tend not to diverge for long.

Options traders took Monday's oil volatility seriously, sending prices for near-dated contracts to some of the highest levels of recent months.

GlobalCapital’s Toby Fildes interviewed the heads of debt capital markets at 20 of the top 25 banks in late November and December, to ask their views on how the market will evolve in 2016. Here are their thoughts. Information design Jon Hay, Sam Medway

Credit Suisse and UBS dominated Dealogic’s European FIG bookrunner rankings for 2015, helped by their issuer parents cranking up their issuance of holdco and capital instruments.

The GlobalCapital editorial team has picked what it believes to be the standout bond issues of 2015 across the financial institutions, public sector, emerging markets and corporate bond markets. We selected the trades that we think will be remembered for their success in challenging conditions, for making the best use of the demand available to them, or for having made a longer lasting impact, such as the re-opening of a market. The FIG Deals of the Year 2015 winners are presented here.

Qihoo 360 Technology is raising a $3.4bn equivalent renminbi loan to back its delisting from the New York Stock Exchange, picking China Merchants Bank to supply the funds.

The US Commodity Futures Trading Commission this week voted in a final rule on margin requirements for uncleared swaps for bank dealers and major swap participants – despite the objection of one of the three commissioners that it will be far less effective at reigning in US bank excesses than an earlier version

Persistent volatility has left the vast majority of bank capital trades trading wider in 2015, with poor periphery performers joined by some notable big hitters at the bottom of the pile.

The dollar market for corporate bonds came to a shuddering halt as potential issuers kicked borrowing plans into next year amid choppy market conditions.