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◆ Trump orders review of US involvement in multilateral development banks 
◆ What's driving Reverse Yankee issuance? 
◆ Deutsche Bank sparks new controversy in AT1 capital

Among many of the executive orders Donald Trump has signed since he became US president for the second time was one which ordered a review of the country's involvement in international organisations. That will include the multilateral development banks, in which it is often the biggest shareholder and which are big bond issuers.

We investigate how seriously the MDBs and the bond market should take the review as there is evidence of support for the sector in Trump's previous stint in the White House but also seemingly a revitalised sense of isolationsim and nationalism this time around. 

US influence was prevalent in the European investment grade corporate bond market this week too. IBM was among a trio of US issuers pricing Reverse Yankee bonds. We look into what is driving the supply and what deals are to come.

Finally, we talked about whether Deutsche Bank's hint that it would not call two of its dollar additional tier one deals this year would rile investors at a time when the market for the product is red hot.