North America

US FIG issuance moves unperturbed across capital structure just days before election

A unified definition of what makes a credible corporate transition plan is on the cards as curtain falls on UK TPT and ISSB takes over

Final high grade dollar deals slip in before US election

IG corporate buyers awash with cash on the lookout for opportunistic euro trades

Marex sponsor sell-down and Elixirr executive sale follow IPO of Applied Nutrition and Coca Cola's listing transfer

Want to reform the GSEs and create a US covered bond market? You're hired

◆ US insurance company leads issuance with $5.2bn deal ◆ Bank of America lifts large chunk of subordinated debt ◆ Year to date FIG volume surpasses 2023's full year total after issuers frontload

Investment firms JRJ Group, Trilantic Capital and BXR Group Holdings are the sellers

Two more major US banks issue bonds but three do not despite spreads at post-GFC tights

High grade names face a tougher market, but opportunities are still on offer

◆ RBC leads European banks to funding in the US ◆ Once JP Morgan starts the third quarter bank earnings season local FIG bond wave could materialise ◆ This could keep market busy until US election

The EU and UK wouldn’t be working towards T+1 if it weren’t for the US mismatch