Wells Fargo Securities

Public sector borrowers have crammed more dollar deals into Tuesday than are sometimes seen in a week. But far from suffering from too much choice, investors gobbled up everything on offer — and bankers expect them to do just the same for two deals on Wednesday’s menu.

Industrial and Commercial Bank of China closed a $1.5bn three tranche deal through its New York branch on Wednesday, finally closing the 10 year bond sale it hoped to do last year.

Industrial and Commercial Bank of China is marketing a dollar bond deal spanning three tranches through its New York branch.

Corporate borrowers dashed to print as investment grade spreads maintained their record levels ahead of a sell-off in US Treasuries, as speculation grew that US president Donald Trump would appoint a policy hawk to replace Janet Yellen as Fed chief.

UnitedHealth Group rescued an otherwise lacklustre week for high grade dollar bond issuance with a $4bn deal as earnings blackouts kept a lid on supply.

Panamanian commercial lender Banco General is distributing a $500m loan into the Asian market, the second time it has tapped bank liquidity in the region.

Northrop Grumman and Wal-Mart printed the biggest deals in their history as event-driven dollar bond supply roared back to life following the Columbus Day holiday.

Iron Mountain, Bormioli and Constellium revved up the engines of the European high yield market with new deals announced on Tuesday that pushed overall issuance so far this year closer to 2014’s all-time €84bn high.

Dollar borrowers failed to take advantage of pent-up demand and tightening spreads as US corporate bond supply recorded a lacklustre end to the month.

Investors bought into attractive yields from triple-B rated issuers that jumped into the US corporate bond market ahead of the Fed’s well flagged announcement that it would reverse quantitative easing.

A hundred investors managing $1.8tr of assets have signed a letter calling on banks to say more about how they are managing the risk of climate change, and to publish a strategy saying how they support the goals of the Paris Agreement.

Investors scrambled for yield in the dollar bond market this week as Concho Resources printed its debut investment grade offering amid nearly $19bn of other corporate offerings.