Capital Markets News, Data & Analysis

Top stories

  • Reeling bond market surveys VW and Glencore’s path of destruction

    Europe’s corporate bond market had won some respite from a bruising start to the week by Thursday but market participants were wary over hailing a full recovery as confusion reigned. Ross Lancaster reports.

    • 01 Oct 2015
  • Equity bankers battle to bring deals as gloom mounts

    Equity capital market bankers refused to embrace the growing sense of doom in global financial markets this week, as they fought on to get deals done, writes Olivier Holmey.

    • 01 Oct 2015
  • Companies turn to CFDs to save on FX hedge costs

    Some European companies have begun using contracts for difference — normally more associated with retail spread betting — to hedge their industrial FX exposure, as a cheaper alternative to more conventional derivatives provided by banks, writes Dan Alderson.

    • 01 Oct 2015
  • Global Derivatives Awards 2015 winners announced

    On Thursday, September 24, GlobalCapital held its 2015 Global Derivatives Dinner at Banking Hall in London and revealed the winners of its Global Derivatives Awards 2015.

    • 25 Sep 2015
  • SSAs spy super euro debuts and returns

    The euro market’s strength over dollars is impelling public sector borrowers to line up the currency for rare or even debut visits — and there are strong signs this opportunity could last longer than earlier windows.

    • 01 Oct 2015
  • Gazprom euro may not be market reopener for bonds

    Gazprom may issue a euro denominated note next week, the first corporate new issue from Russia in 2015. But although it is viewed as a positive sign for the market, it won't necessarily herald a wider market re-opener for the country.

    • 01 Oct 2015

People and Markets

  • Bond traders score major victory as ESMA backs down on transparency

    Bond traders breathed a collective sigh of relief this week when the European Securities and Markets Authority (ESMA) reversed course on trading transparency regulations which could have seized up the fixed income markets.

    • 01 Oct 2015
  • CMU heralds new approach to regulation, but can it work?

    The European Commission’s action plan for Capital Markets Union in Europe was largely welcomed by market participants, but some question whether approaching financial regulation without broad legislation can work, and whether the initiatives will come in fast enough to drive growth in Europe.

    • 30 Sep 2015
  • Traders win reprieve from market-killing buy-in rule

    Mandatory buy-in, a rule which could have crippled European rates and repo markets, may be postponed by two years, pending a further review of the regulation.

    • 01 Oct 2015


Olly Copplestone's Cartoon



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Old Money

  • Old Money: Financial crises and Labour’s lurches to port

    The ascent of Jeremy Corbyn to lead the UK's Labour Party is ultimately an outcome of the financial crisis. As the party in power when the crisis struck, Labour’s economic competence was discredited with voters with election defeats in 2010 and 2015.

    • 23 Sep 2015
  • Old Money: The end of cheap money?

    Since March 2009 Britain’s benchmark official rate has been 0.5% — the lowest rate in the Bank of England’s 320 year history, its long term average being about 4.5%. But recently BoE's governor Mark Carney speculated that it will begin to rise from the end of the year to around 2%, possibly heralding the end of the era of cheap money.

    • 27 Aug 2015
  • Old Money: Tossing a drachma — referendums and repudiation

    The Greek Prime Minister’s decision to provide voters with an opportunity to reject the country’s bailout conditions in a referendum is an unusual move, but not without precedent.

    • 02 Jul 2015
  • Old Money: Battle of Waterloo — making a killing

    200 years might have passed since Napoleon was defeated at Waterloo. But some things in war — and finance — do not change, such as the absolute importance of being ahead of the game. Nathan Rothschild cleaned up on the Gilt market thanks to his rapid, reliable, and finely honed communications system that brought him news of Wellington's victory ahead of anyone else in Westminster and the City.

    • 09 Jun 2015

The GlobalCapital View

  • Volkswagen disaster shows importance, and limits, of ESG

    If you thought worrying about environmental and governance risks were for woolly liberals, you don’t any more. But how can you avoid sinners when the wolves hide in sheep’s clothing?

    • 22 Sep 2015
  • ECB must reconsider its approach to covered bond buying

    The European Central Bank's covered bond purchase programme is once again regularly taking half or more of primary issuance, with negative repercussions. It should step back.

    • 22 Sep 2015
  • ADCB: an oil covered canary?

    Rival debt bankers like to pounce on pulled deals like coyotes onto wounded possums. But emerging market syndicate officials would do well to look beyond the opportunity for point scoring to what Abu Dhabi Commercial Bank’s abortive trade really indicates about Middle East liquidity.

    • 22 Sep 2015
  • Europe must deliver on debt deal for Greece

    The world needs a strong, stable eurozone. And that requires a strong, stable Greece. The talks necessary to make that a reality must not be placed on hold while Europe’s leaders fret and argue over the growing refugee crisis. Europe will only be a true source of hope to the needy outside its borders when it engenders faith from those within.

    • 22 Sep 2015
  • With risk retention, regulators are aiming a gun at their own feet

    European policymakers have identified CLOs as a way to help channel credit to SMEs. So the risk retention rule they are planning to implement makes no sense at all.

    • 22 Sep 2015

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 28 Sep 2015
1 JPMorgan 271,519.68 1071 8.81%
2 Bank of America Merrill Lynch 237,255.97 852 7.69%
3 Barclays 226,301.35 731 7.34%
4 Citi 222,198.23 864 7.21%
5 Deutsche Bank 188,852.06 790 6.12%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 29 Sep 2015
1 HSBC 33,949.62 136 7.27%
2 BNP Paribas 29,260.14 178 6.27%
3 Deutsche Bank 27,417.75 121 5.87%
4 JPMorgan 23,896.56 57 5.12%
5 Credit Agricole CIB 20,730.60 104 4.44%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 29 Sep 2015
1 Goldman Sachs 19,529.42 65 10.26%
2 UBS 18,513.40 64 9.72%
3 JPMorgan 15,238.96 80 8.00%
4 Bank of America Merrill Lynch 14,866.39 62 7.81%
5 Morgan Stanley 14,731.55 68 7.74%