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  • Draghi delivers: historic QE plan smashes expectations

    It may have been one of the most telegraphed moves in central banking history, but on Thursday, European Central Bank president Mario Draghi finally gave the capital market punters what they wanted and dialled some big numbers. He has promised to “do whatever it takes” to save the euro since July 2012, but now, with the advent of sovereign quantitative easing he is at last walking the walk, to go with the talk.

    • 22 Jan 2015
  • QE makes market’s day but Greek election could spoil the weekend

    Greece’s temporary exclusion from the European Central Bank’s bond buying programme may have left it it feeling as lonely as a story not about European QE would on the front of a financial newspaper on Friday morning.

    • 22 Jan 2015
  • SSAs rejoice as ECB gets its wallet out

    The European Central Bank went beyond sovereign, supranational and agency market participants’ expectations this week with the announcement of a bond buying programme that does not stop at sovereign bond buying and takes in from two to 30 years on the curve — including bonds trading at negative yields.

    • 22 Jan 2015
  • European QE: the view from the trading floor

    The European Central Bank made on Thursday its long-awaited announcement of quantitative easing. GlobalCapital rounded up views from across the financial markets as the announcement broke from one of the most hotly anticipated central bank meetings in years.

    • 22 Jan 2015
  • KKR intercepts Trainline.com float with knockout all-equity bid

    KKR, the US private equity firm, surprised the UK equity markets on Thursday morning as it announced its takeover of Trainline.com, the train ticketing website that had a fortnight ago expressed its intention to float in London.

    • 22 Jan 2015

People and Markets

  • QE could squelch banks unless growth follows

    While financial assets are off to the races following Thursday’s announcement of €60bn a month in eurozone quantitative easing, the banking system still needs growth to take off. The bond buying programme could hurt European banks by squashing the yield curve, and leave investment banks becalmed by low rates for longer.

    • 22 Jan 2015
  • Fed hints at bonus regulation

    Jerome Powell, a member of the Federal Reserve’s board of governors, said US financial regulators were preparing a new rule on compensation at financial institutions, which could include more deferral, delayed vesting and “the possibility of more robust forfeiture”.

    • 22 Jan 2015
  • BNP Paribas inches toward levfin-high yield merger

    BNP Paribas is preparing a reorganisation of its leveraged finance and high yield teams, as part of the reordering of its corporate and institutional bank that has taken place since Yann Gérardin took over as its head in October. Market participants believe some job cuts are possible.

    • 22 Jan 2015
  • Forex failures caused by over-regulation, lawyers say

    Sharon Bowen, Commissioner at the Commodity Futures Trading Commission issued a statement on Thursday arguing that the retail FX market is the least regulated part of the derivatives industry, following the shock move on January 15 by the Swiss National Bank to abandon the Sfr1.20 euro/Swiss franc exchange rate. However, lawyers argue that retail FX is one of the most heavily regulated sectors, which may in fact be increasing risk.

    • 22 Jan 2015

GlobalCapital View

  • Five against one — arguments for and against QE

    With even French president Francois Hollande saying earlier this week that the European Central Bank will announce sovereign quantitative easing on Thursday, there can be little doubt that ECB boss Mario Draghi is fitting the latest rocket into his bazooka as we write. Hollande may have had to embarrassingly backtrack since — with his office saying he was only talking hypothetically — but one can be certain that the flip flop is more down to a breach of etiquette, rather than an error.

  • When regulators try to do credit analysis

    The European Commission wants credit ratings left out of financial regulation — a great move, if it can find something good to replace them. But it’s making the right decision for the wrong reason.

  • Turkey’s central bank still needs to prove its independence

    Turkey’s central bank has had to fight hard to win respect as an institution independent of political pressure. With the country on firmer economic footing the central bank took its chance to cut rates — which will have delighted Turkey’s president. But the bank’s still shaky credibility and Turkey’s vulnerability to capital market vagary means there is more at stake.

  • CSRC margin crackdown is a shrewd move

    China’s ECM market had a tough start to the week, after measures by the regulator to clamp down on excessive margin lending by brokerages took their toll on stock markets, with equities plunging the most in years. But investors that fell victim to this volatility should take it in their stride. The China Securities Regulatory Commission’s stringent approach is smart — and bodes well for stronger markets in the longer term.

  • Lloyds continues US push with another London transfer

    UK-headquartered Lloyds Bank has transferred yet another senior banker to its New York outpost, as it attempts to win market share in carefully-selected parts of the US capital markets such as corporate debt and securitization. The new addition will focus on North American institutional investor coverage for the bank’s financial institutions team.

    • 22 Jan 2015
  • Ruggiero to run DCM at First Gulf

    First Gulf Bank has hired Giuseppe Ruggiero from National Bank of Abu Dhabi to head its debt capital markets business.

    • 22 Jan 2015
  • People Moves in Brief

    DCM bankers leave Erste — Borten heads to ANZ — SG splits top job — First Gulf names bond boss

    • 22 Jan 2015
  • Goldman Sachs names chairman of HK IB

    Goldman Sachs has promoted investment banking veteran Stephen Wong to the newly created role of chairman of IB for Hong Kong.

    • 22 Jan 2015

Southpaw

Asia

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Global IB Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jan 2015
1 JPMorgan 175.60 105 7.99%
2 Goldman Sachs 175.01 80 7.97%
3 Bank of America Merrill Lynch 159.92 84 7.28%
4 Citi 146.93 98 6.69%
5 Deutsche Bank 107.22 92 4.88%

Global M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jan 2015
1 Goldman Sachs 112.34 19 13.65%
2 Bank of America Merrill Lynch 86.13 17 10.46%
3 JPMorgan 82.08 18 9.97%
4 Citi 61.96 18 7.53%
5 Deutsche Bank 46.15 10 5.61%

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jan 2015
1 Barclays 23,654.34 62 9.48%
2 JPMorgan 22,036.25 54 8.83%
3 Citi 18,266.60 50 7.32%
4 HSBC 16,873.50 54 6.76%
5 Deutsche Bank 16,571.00 56 6.64%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Jan 2015
1 Credit Agricole CIB 2,525.38 2 33.69%
2 Citi 725.00 2 9.67%
3 SG Corporate & Investment Banking 600.00 1 8.00%
3 Emirates NBD PJSC 600.00 1 8.00%
5 Deutsche Bank 508.74 2 6.79%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Jan 2015
1 UBS 4,446.03 1 40.92%
1 Goldman Sachs 4,446.03 1 40.92%
3 Citi 511.98 3 4.71%
4 Liberum Capital Ltd 192.75 4 1.77%
5 Morgan Stanley 186.33 2 1.71%