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The Daily Capital Markets Digest
(Reuters) - The European Central Bank cautioned on Wednesday against speculation over the outcome of its stress tests after a media report said at least 11 banks had failed the landmark financial health checks, driving some banking shares lower.
The high-grade new issue market roared back to life on Wednesday as if the recent volatility never occurred, with US$11.25bn priced by six issuers, including a US$6.5bn jumbo by Verizon.
US midstream limited partnership Tesoro Logistics LP squeezed pricing on its dual-tranche high-yield bond by 25bp on Wednesday even as the market turned weaker after a shooting at the Canadian parliament.
Fifth Street Asset Management, the manager of US$5.6bn in assets including two publicly traded business development companies, said it planned to withdraw its US$200m IPO after failing to price the deal late Tuesday.
I chaired IFR’s annual ECM conference on Tuesday and what a time we all had.
Pay close attention to firms which bring forward or delay earnings releases, warns James Saft.
James Saft on Chinese capital and the global choice between bridges and bubbles.
Anthony Peters on how Tuesday’s Metro issue smells like another Adidas.
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