Investment Banking

Fitch Ratings has appointed James McCormack as Managing Director and Global Head of Sovereign and Supranational Ratings.

In this role, Michele will lead the development and roll-out of the Investor Relations strategy across the Americas region while also playing an important part in the overall investor engagement strategy and equity story development.

The African Development Bank (AfDB), a leading multilateral development bank, rated Aaa/AAA/AAA, and Nomura, Asia’s global investment bank, today finalized the terms of secondary distribution of AfDB’s education support notes to Japanese retail investors.

The rise in the yield of the 10-year TNote has been impressive since the start of May, up from 1.60% to 2.90%, its highest level since July 2011 (TNote contract has shed around 6%). The steepening of the US sovereign yield curve has been just as impressive, as the 10-2Y spread has widened to 250bp from around 140bp at the start of May.

Today De Nederlandse Bank (DNB) announced that it maintains its existing alternative interest rate term structure for calculation of the regulatory Solvency 1 available capital of Dutch insurance companies.