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The Daily Capital Markets Digest
Four US high-grade issuers raised a modest US$2.7bn in the bond market on Wednesday, bringing weekly volumes in this holiday-shortened week to US$12.2bn – bang in the middle of estimates for US$10bn to US$15bn.
Energy company refinancings dominated Wednesday’s US high-yield deal flow, comprising one E&P add-on and three benchmark size bond deals.
Bank of America found strength in the performance of its investment bank, in debt underwriting and fixed income trading in particular, as yet another multi-billion dollar legal settlement related to its legacy mortgage underwriting sand-bagged results.
(Updates to add details of October restructuring in the rates business and good performance of securitised products.)
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Thursday from the IFR Bank Capital Conference in London
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