United States
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US and Yankee banks took home more than $15bn this week as they raced to wrap up funding plans amid improving market conditions. -
Chinese wealth management service provider Jupai Holdings priced its $53m IPO on the New York Stock Exchange at the bottom end of guidance on July 16, as its selling shareholders reined in the number of secondary shares on offer.
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New regulations restraining the risk taking ability of dealer banks contributed to last October’s sudden and mysterious selloff in US Treasury futures and options — dubbed the “Flash Crash”.
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Oil market volatility was driven higher this week as traders placed bearish bets amid the prospect of more Iranian supply following its sanctions deal combined with weak fundamental data.
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US speciality chemical products holding company Platform will buy UK firm Alent for £1.35bn using a $1.9bn bridge loan from Credit Suisse.
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The Greek Prime Minister’s decision to provide voters with an opportunity to reject the country’s bailout conditions in a referendum is an unusual move, but not without precedent.
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In this round-up, Singapore deposits fell in the first quarter this year, Taiwan RMB deposits rose to a new record, Bank of China joined the new gold benchmark, and the first overseas inverse ETF shorting A-shares entered the market.
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With the euro-market all but shut for covered bond issuers, Nordic issuers may look to the US market as an alternative, say US bankers.
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A pickup in primary market activity continued apace on Wednesday when Stadshypotek sold the sixth dollar denominated covered bond in the US this year.
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Why not pass legislation for covered bonds in the United States? It is easy to do and there is basically no cost to the Treasury, says Jerry Marlatt senior council at Morrison & Foerster LLP in New York.
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The securitization market could offer a financing solution for the energy market in Japan, where the government is pushing rooftop solar panel facilities as an alternative to nuclear power following the closure of nearly all the country’s nuclear plants in the aftermath of the 2011 tsunami and earthquake and the ensuing Fukishima accident.
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General Motors is planning to introduce its captive auto finance arm into the Chinese market later this year, paving the way for more issuance of auto loan securitizations in the world’s largest auto market. But concerns still remain around the asset class, in a country where securitization laws are relatively new.
