• Salvini snaps to send Italian capital markets into a spin

    An impressive rally in Italian risk assets has been completely overturned this week, as Italy descended into political chaos. Some market participants now fear a repeat of last year, when Italian issuers were frozen out of debt and equity markets as the country’s government fought with the European Commission over its annual budget targets. Tyler Davies and Sam Kerr report.

    15 Aug 2019
  • Argentina primaries stun EM as brutal sell-off poses investors dilemma

    A surprise result in last Sunday's primary elections in Argentina triggered hefty losses for emerging market investors this week. Many feared another sovereign default as Argentina assets, and its currency, took an absolute kicking. But by Thursday, writes Oliver West, some felt that bruised and battered investors could be missing out on a chance to snap up cheap assets.

    15 Aug 2019
  • Default risks accumulate in Brexit-plagued UK market

    UK corporate debt is at an all-time high as the risks posed by a traumatic departure from the EU in October peak. Default risk among UK industrials has deteriorated sharply in recent years while at the same time their EU counterparts have lowered their risk profile. Karoliina Liimatainen reports.

    15 Aug 2019
  • MarketAxess’s new buy targets SSA trading

    LiquidityEdge, which operates an electronic marketplace for US Treasuries, could now look at offering a similar service in the European government bond market after its purchase by MarketAxess. The latter’s president, Chris Concannon, sees the pressure European banks face to cut costs as a boon for trading automation in the region.

    • 15 Aug 2019
  • ‘Core Europe' IPOs to offer Brexit dodge

    The EMEA IPO calendar for the rest of the year is set to be filled with companies from continental Europe, as Brexit uncertainty looks set to delay UK listings. But global volatility could yet scupper all plans.

    • 15 Aug 2019

COPPLESTONE'S CARTOON

 

1617

PEOPLE & MARKETS

  • UniCredit appoints new SSA trading head

    UniCredit has hired a new head of trading for sovereigns, supranationals and agencies to its European government bond trading desk in Milan.

    • 13 Aug 2019
  • TP ICAP appoints EMEA CEO

    TP ICAP has appointed Michel Planquart as regional CEO for EMEA, giving him oversight of risk and governance for the region.

    • 15 Aug 2019
  • Loan veterans fear juniorisation of market

    Some senior loan bankers believe there is an increasing shift in hiring practices towards junior staff, as the syndicated lending market faces mounting pressure on lenders to cut costs.

    • 15 Aug 2019

COMMENT & COLUMNS

THE GLOBALCAPITAL VIEW

  • China’s research clampdown: a step in the wrong direction

    China’s securities firms are about to be subject to an alarming rule that will limit their capacity to provide independent research. The decision to grade firms on their ability to manage the reputation of China and guide public opinion is a big step back for the country’s financial system.

    • 15 Aug 2019
  • Brace for more Burford-style rows if QE ramps up

    Burford Capital, the litigation funder, is under pressure over how it accounts for an obscure type of asset and how it finances its business using debt. In many respects it is a unique case, but it is a debacle fuelled by quantitative easing. With more of that on the way, pushing investors into ever more esoteric asset classes in the quest for yield, there will be plenty more businesses under scrutiny.

    • 13 Aug 2019

more Views

SOUTHPAW

  • HSBC’s Tucker and Stevenson ramp up the pressure

    HSBC’s chief executive was dislodged by the force of the challenges facing the bank. Now, its global markets division is under pressure as senior management continues with reform, writes David Rothnie.

    • 15 Aug 2019

more Southpaw


LEADERS

  • Italian banks: it's all political

    Political chaos in Italy disguises the progress made turning around the country’s banking sector.

    • 15 Aug 2019
  • Hang in there, banks; Russia’s no riskier

    International banks should stand their ground and continue lending to Russian borrowers. The weak, ineffective sanctions that the US rolled out last week have not affected Russia’s creditworthiness and some even argue that investors in the country face fewer risks than they did two weeks ago.

    • 08 Aug 2019

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GlobalCapital Bond Comments

View detailed issuer and bookrunner commentary and market appraisal for the key deals in the market. Choose from SSA, FIG, Corporates and Emerging Market deals.


ASSET CLASS NEWS

SSA

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FIG

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SECURITIZATION

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LEVFIN

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DERIVATIVES

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EMERGING MARKETS

more emerging markets

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 255,554.16 1146 8.47%
2 Citi 232,791.64 969 7.71%
3 Bank of America Merrill Lynch 199,027.99 814 6.59%
4 Barclays 184,008.42 751 6.10%
5 HSBC 144,676.82 801 4.79%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 31,283.69 132 7.81%
2 Credit Agricole CIB 27,347.56 115 6.83%
3 JPMorgan 23,350.32 62 5.83%
4 Bank of America Merrill Lynch 22,698.09 61 5.67%
5 UniCredit 19,891.92 110 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8,160.55 49 10.10%
2 Morgan Stanley 7,744.92 38 9.59%
3 Goldman Sachs 6,966.15 37 8.62%
4 Citi 5,856.44 44 7.25%
5 UBS 4,820.17 25 5.97%