People & Markets - All Articles

  • Big groups join in new drive to clear ESG roadblocks

    Two of the biggest sustainable finance organisations, the PRI representing investors and WBCSD for companies, are putting their heads together to try to solve two of the thorniest issues impeding progress in the field.

    • 28 Aug 2020
  • EIB brings first Sonia linked to BoE index as non-UK sterling issuance plummets

    The European Investment Bank gave the flagging volumes in the non-UK sterling SSA market a boost on Friday, bringing the first ever Sonia floating rate note linked to the Bank of England’s new compounded Sonia index.

    • 28 Aug 2020
  • World Bank taps into tricky US base with long Sofr

    SSA borrowers, and supranationals in particular, have long aspired to break into the vast pool of domestic US investors. Thanks to a long-dated floater linked to Sofr, the World Bank has found a new means of accessing these investors.

    • 27 Aug 2020
  • EIB to bring first Sonia FRN linked to BoE’s new compounded index

    The European Investment Bank mandated banks on Thursday for the first Sonia floating rate note linked to the Bank of England’s new compounded Sonia index which was launched earlier this month.

    • 27 Aug 2020
  • SURE disbursement proposals up to €87.3bn

    The European Commission has published proposals for allocating €87.3bn of its €100bn unemployment support programme SURE, the temporary Support to mitigate Unemployment Risks in an Emergency facility. Italy and Spain are set to receive the largest amounts.

    • 25 Aug 2020
  • US election critical for international climate finance

    US citizens concerned about climate change may be hoping Joe Biden wins the presidency in November, but the issue is even more important for those in developing countries who face more immediate risks, and are relying on international finance to tackle these perils.

    • 21 Aug 2020
  • Protecting nature, boosting happiness, and not paying down debts

    This week in Keeping Tabs: does sustainable finance need to rethink environmental threats, did monetary policy after the last crisis increase well-being, and do we need to worry about sovereign debt levels in developed countries?

    • 21 Aug 2020
  • €STR's foundations quiver as volume drops

    The Euro Short Term Rate may be running into the first real problem of its short life. The benchmark was designed to provide a reflection of wholesale euro overnight borrowing costs based on real transaction data. But what if there aren’t enough transactions?

    • 18 Aug 2020
  • €STR on brink of contingency again

    A sudden dip in the volume of €STR transactions and the number of banks submitting data has led to market participants voicing concerns about the rate.

    • 17 Aug 2020
  • NatWest designs new investment bank layout

    NatWest Markets has restructured its divisions and given them new leadership. It is also moving some UK corporate-focused bankers over to the ring-fenced bank.

    • 14 Aug 2020
  • Technical issue forces ECB to use €STR contingency

    A technical issue around data submission meant that the euro area short term rate (€STR) did not have enough data to be calculated in the usual way on Tuesday morning, forcing the ECB to use its contingency method.

    • 13 Aug 2020
  • Economist Brad Setser on swap lines: Fed acted with speed and force

    Many saw the US Federal Reserve’s decision to lend hundreds of billions of dollars to certain central banks at the height of the coronavirus crisis as pivotal in preventing further calamity in global markets. Brad Setser, senior fellow for international economics at the Council of Foreign Relations, gives a great deal of credit to the Fed for its forceful intervention. But if markets begin to see the US central bank as a global lender of last resort, there may be a greater risk of imprudent behaviour and more political tumult in the US.

    • 13 Aug 2020
  • EDDI forum to hold first meeting next month

    A temporary forum created by the European Central Bank to discuss the proposed European Distribution of Debt Instruments (EDDI) project will hold its first meeting in September.

    • 12 Aug 2020
  • Technical issue forces ECB to use €STR contingency

    A technical issue around the data submission meant that the euro area short term rate (€STR) did not have enough data to be calculated in the usual way this morning, forcing the ECB to use its contingency method.

    • 11 Aug 2020
  • SURE applications roll in, but Europe still counting on Pepp

    European Union member states have begun applying for loans from the bloc’s €100bn Support to Mitigate Unemployment Risks in an Emergency (SURE) package. Unlike with other European rescue lending facilities, countries seem less concerned with the reputational damage of asking for a share of this cash, writes Lewis McLellan.

    • 06 Aug 2020
  • People moves in brief

    Krupa to replace Cabannes at SG — JP Morgan reshuffles activist defence business — Credit Suisse gives Cohen new position

    • 06 Aug 2020
  • Negative rates ‘in the toolbox’

    Andrew Bailey, governor of the Bank of England, has announced that negative rates are “part of the toolbox” but that he sees no reason to make use of them yet.

    • 06 Aug 2020
  • Citi moves MTN banker to SSA syndicate

    Charles-Antoine Roche has joined Citi’s sovereign, supranational and agency syndicate desk after spending over a decade in the bank’s medium term notes business.

    • 05 Aug 2020
  • Climate case against Australia could force issuers into new risk disclosures

    The case of O’Donnell versus the Australian Commonwealth, if successful, could force all issuers seeking to make use of the Australian bond market to make thorough disclosures of their climate strategy.

    • 05 Aug 2020
  • Morgan Stanley suspended from French auctions

    The Agence France Trésor (AFT) has suspended Morgan Stanley’s primary dealership in French government bonds, making it the first bank to suffer such a proscription.

    • 04 Aug 2020