Foreign exchange traders are eager to short the US dollar. The problem is the trade comes with a steep price tag.

Citigroup has quietly removed diversity and equity requirements from its US$1trn sustainable finance target, as Wall Street firms continue to retreat from DEI initiatives amid political attacks.

Just two years after UBS took over Credit Suisse and set out plans to expand its investment bank by filling gaps in coverage in the United States, that strategy could be upended after Swiss regulators hardened capital requirements for the bank.

The European Commission is preparing to launch special tax-free savings and investment accounts for its 450 million citizens, as a critical first step towards a capital markets union that has been talked about for more than a decade and has become a clear priority for the bloc in recent months.

Warner Bros Discovery’s tender for up to US$14.6bn of bonds as part of a planned spinoff of its streaming business has tipped it into junk territory and left debtholders assessing how best to play the storied media giant.

Two new names have brought some variety to the run of refinancing transactions that have hit the European high-yield market, with the deals set to be followed by other debuts.

As Elon Musk’s xAI continues to market a US$5bn debt financing following the owner’s very public spat with US president Donald Trump, market participants have expressed mixed views on the deal while lead Morgan Stanley offers double-digit yields to get investors on board. 

French industrial services provider and equipment manufacturer Altrad Investment Authority is looking to venture into the bond market with a euro-denominated, benchmark-size, senior secured dual-tranche deal across four-year and seven-year notes.

The significant risk transfer market, which has been growing rapidly in Europe since the 2010s, is spreading into new regions such as Asia, Africa, the Middle East and Latin America, according to attendees at the Global ABS conference in Barcelona.

SeaCube on Tuesday issued a US$400m container lease securitisation, opening up a part of the ABS market that is particularly exposed to US president Donald Trump's ever-changing tariff policy.

The US solar ABS sector is attempting to move past the bankruptcies of two regular issuers, Sunnova Energy and Solar Mosaic.

European CLO portfolios are stuffed with loans to borrowers that have been in the leveraged loan market for as long as 20 years – or even more in some cases. That may be too long, according to a CLO manager speaking at the Global ABS conference in Barcelona.

Nasdaq-listed Singapore ride-hailing and delivery company Grab Holdings has drawn strong demand for a US$1.5bn upsized convertible bond, as investors like the potential equity upside brought by a possible acquisition and the scarcity value of paper from a US-listed non-China Asian play. 

Chime Financial shares surged nearly 40% on their US market debut on Thursday following above-range pricing of its US$864m Nasdaq IPO, highlighting the current strength of the US new issue market. 

After an initially shaky start to the second quarter thanks to the tariff hokey-cokey in the US, EMEA IPOs appear to be showing signs of momentum with positive data points in the US now followed by a slew of deal launches in Europe. 

Shares in Nordic specialist mortgage provider Enity pushed more than 33% above pricing on Friday's debut following a double-digit covered fixed price SKr1.45bn (US$152m) Stockholm IPO.

Sponsors in Europe are releveraging portfolio companies at record levels through dividend recaps, as they squeeze money out of assets that are bogged down in a stalled M&A market.

Loans backing the mergers and acquisitions or spinoff activity of investment-grade companies are gathering steam with more than US$26bn of bridge financings announced in the last week, after a lacklustre start to the year in which event-driven transactions were stymied by volatility linked to Washington trade policies.

The rapid appreciation of the Taiwanese dollar against the greenback in the past seven weeks is having an unexpected ripple effect on a part of the domestic loan market in Taiwan that was already reeling from regulatory tightening last year.

Companies are heading back to the US leveraged loan market to cut costs, some for the third time in 18 months, as volatility has subsided after issuance ground to a halt amid a US-led trade war.