North America
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New York is making it hard for Chinese ultra-fast fashion giant to list but London may be open -
◆ Eight foreign banks raise more than $18bn in three days as BMO adds another $1bn to multiple perps ◆ M&A funding also boosts February FIG volume to over $50bn ◆ Slow down felt by Thursday as spreads widen
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Falling inflation and resilient US economy have driven a dramatic rally of risk assets
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Following a blistering start to the year, there are signs of investor fatigue
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There is a strong investor bid for non-eurozone names
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Reverse Yankees tighten during bookbuilding, but deal glut means exuberance is gone
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Deal pile up means days of 40bp tightening during bookbuilding could be over for now
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Sharp spread tightening still possible despite slew of trades lining up
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Lossmaking Swiss solar cell manufacturer is scaling back production in Europe, opening in US
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US company plans its first euro deal as investment grade issuer
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◆ Mizuho and Westpac NZ the only FIG issuers in dollars this week ◆ After each raised $1.5bn in dual tranchers, monthly volume pushed to $28bn ◆ Market focus also on Capital One's acquisition of Discover
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The strong market conditions are tempting cash rich issuers
