United States

The New York Stock Exchange has dropped plans to delist the stocks of China Mobile, China Telecom Corp and China Unicom (Hong Kong).

Chinese clinical-stage company Gracell Biotechnologies has kicked off the roadshow for its Nasdaq listing, eyeing up to $158.9m in proceeds.

Growth stocks are overvalued relative to value stocks, according to Ben Inker, head of asset allocation at GMO. But in fixed income markets he is less convinced of a bubble, with central banks compressing yields.

The US stimulus package seemed all but a done deal until Tuesday night. The $900bn, 5,593 page bill was passed by both houses and requires only President Donald Trump’s signature to become law. Though this seemed a foregone conclusion, Trump is threatening to withhold his signature unless the size of the relief is increased, not that bond markets seemed fazed by the late upset.

This week in Keeping Tabs: Republicans battle over Federal Reserve support, a look back at the "Spanish" flu, and a quiz from the Bank of England.

Governments have had little choice but to load up on debt to save their economies. With the crucial support of low interest rates and vast quantitative easing programmes, there is little immediate threat to debt sustainability. But as Jasper Cox reports, nothing lasts forever.

An extraordinary year for the US corporate bond market ended on a high this week, as Jerome Powell gave a dovish statement at the end of the Federal Open Market Committee's meeting which left participants certain the Fed had the market's back.

This year proved to be one of the most dramatic on record for corporate financiers as volumes rose from the ashes of the market sell-off. David Rothnie examines some of the themes that defined the year and looks ahead to 2021.

US-listed Chinese companies have raised more than $12bn from equity investors in the past month, with iQiyi becoming the latest to simultaneously sell a convertible bond and price a follow-on offering of its American depositary shares. With valuations soaring for many of these stocks, bankers expect more issuers to jump into the market in 2021, writes Jonathan Breen.

Chinese streaming platform iQiyi has kicked off a combined convertible bond and follow-on offering that could raise around $1.7bn.

Cellectis, the French gene-editing company, has launched a $100m US capital raising to help fund its research and development operations. The sector has had a record year for issuance in 2020, as the Covid-19 pandemic has concentrated minds on global healthcare innovation.

This week in Keeping Tabs: the former governor of the Bank of England on value and values, The New Republic on law and value, reminiscing about the last crisis, and a pub snack en vogue.