Wells Fargo Securities
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Issuance resumes despite unsettling US jobs data -
The US bank is creating a dedicated DCM team as part of its growth strategy in Asia
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Six US banks and a UK Yankee push weekly FIG supply to $33bn
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Issuer finds dollar market’s pulse but currency to remain challenging for others
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Borrowers turn to defensive tactics after market deteriorates overnight
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US conditions were brighter after Memorial Day holiday
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Bankers are hopeful that FIG borrowers who pay for debt in dollars will continue to take advantage of sterling and Swiss franc funding arbitrage
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US defence giant Lockheed Martin jumped into the dollar market on Thursday following two big M&A financings that were well received
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Both sterling and euro bond markets offer attractive funding levels to US financial institutions keen to get their bond issuance done
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Wells Fargo brought its first dollar bond of 2022 with a minimal new issue concession on Wednesday, before Russia’s invasion of Ukraine shut the dollar market the following day
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Energy companies power past rates and inflation concerns
