Global banks’ trading divisions will report their largest ever revenue haul in 2025, surpassing their previous 2009 record after stripping out proprietary trading activities that these firms have long since jettisoned.

Venezuela’s creditors’ path to compensation has become rockier after US president Donald Trump told the Latin American country’s biggest individual creditor, ConocoPhillips, which has an arbitration claim of US$12bn, not to expect a quick resolution.

UBS has rebranded its ESG advisory team, widening its mandate to include artificial intelligence and other sustainable themes, as the Swiss bank looks to give the team a more "future-focused approach" amid a wider industry rethink around ESG principles.

The multi-year trading boom showed no signs of stopping at the end of 2025 as top US banks posted records in equities trading and fixed income trading continued to defy gravity.

France issued a €10bn 20-year bond on Wednesday even as the government faced two no-confidence votes in a sign of how much investors have accepted the new, chaotic normal in Paris and the attractive pricing they are getting from OATs as a result.

Credit Agricole raised a decent ¥115bn (US$725m) on Friday from a seven-tranche Reg S Samurai bond comprising senior preferred, senior non-preferred and Tier 2 notes, even at tighter spreads than its previous deal, as demand was solid from investors both at home and abroad. 

Kuaishou Technology offered fixed income investors a rare opportunity to buy into China's live-streaming industry, with a debut US$2bn-equivalent US dollar and offshore renminbi bond deal that drew strong demand.

Singapore's United Overseas Bank found strong demand for an upsized S$850m (US$661.7m) Additional Tier 1 subordinated perpetual non-call seven bond.

Increased leveraged buyout activity and the resulting uptick in loan financings should mean another strong year for the US CLO asset class, which some bank analysts predict could see another year of record volume, repeating 2025's performance. 

UK RMBS issuance from Santander UK and Vida Bank met a warm reception as investors returned from the holiday break with cash to deploy, driving strong demand and spread-tightening during execution

Upcoming changes to the European Union’s Solvency II regime are expected to make the CLO market more attractive to insurers and could support additional demand from asset managers, according to analysts.

Westpac is set to reopen the Australian structured finance market with the indicative A$750m (US$500m) self-led funding-only prime RMBS issue, WST 2026-1, which is expected to be launched and priced in the week of January 19.

Rapid developments in nuclear energy in the US and worldwide mean the market could see a broader array of green and conventional financing in 2026 as the sector emerges as the best way to power artificial intelligence.

UBS has rebranded its ESG advisory team, widening its mandate to include artificial intelligence and other sustainable themes, as the Swiss bank looks to give the team a more "future-focused approach" amid a wider industry rethink around ESG principles.

Turkey is considering issuing a green, social or sustainable bond this year as the country prepares to host the UN-sponsored COP31 climate meeting in November.  

QTS and Databank have brought the first data centre securitisations of 2026, testing investor appetite for this critical digital infrastructure asset after concerns emerged late last year about potential overspending on them.

The US Treasury department’s clarification over its outbound investment rules is expected to make it easier for US investors to invest in certain Chinese technology IPOs, but legal uncertainty remains. 

L3Harris Technologies secured a US$1bn investment from the US government's newly renamed department of war for its missile business in a move to accelerate arms production, making it the latest company to combine forces with the state on operations deemed critical to national defence.

Asta Energy Solutions began premarketing on Thursday for a Frankfurt listing as European companies move quickly to get IPOs done early in the year.

EquipmentShare.com is racing toward a Nasdaq IPO that could raise up to US$778m, leaning on a financing model that has fuelled breakneck growth but now forces investors to grapple with a high valuation stitched together from both rental income and off-balance-sheet equipment purchases.

Investors this week piled into the debt backing the US$18.3bn purchase of diagnostic and medical imaging company Hologic by Blackstone and TPG after a dearth of merger and acquisition loans have left managers hungry for paper, a positive sign for an asset class betting on a pickup in buyouts this year.

KKR has raised US$2.5bn for its second Asian private credit fund from a group of new and existing investors.

Upcoming changes to the European Union’s Solvency II regime are expected to make the CLO market more attractive to insurers and could support additional demand from asset managers, according to analysts.

Universidad Alfonso X el Sabio Group has launched the much anticipated €740m term loan B that will finance its acquisition by Cinven.