Comment - All Articles

  • The coronavirus graphic to watch: US and UK continue to worsen

    UPDATED 9 April 2pm GMT Media are reporting that the spread of the coronavirus is slowing in the US and UK, but this is not borne out by the reported facts. Both countries suffered their second highest daily totals of new cases on Wednesday.

    • 09 Apr 2020
  • Debt relief: normal rules should not apply

    Sovereign defaults are part of the territory for emerging market investors but even by the standards of previous crises, surely nothing compares to the economic catastrophe that is rapidly engulfing large parts of the developing world.

    • 08 Apr 2020
  • A credit paradox: ratings are ignored — and feared

    For many years, corporate debt investors have scratched their heads and wondered: will anything, ever, cause the returns on bonds to go back to normal again?

    • 08 Apr 2020
  • Luckin Coffee: out of luck

    Luckin Coffee seemed too good to be true. It was.

    • 08 Apr 2020
  • Absence of absence makes heart grow colder

    The government’s response to the coronavirus has forced me to spend more time at home. Unfortunately, my wife is doing the same thing.

    • 08 Apr 2020
  • Crisis sparks endgame fears for Europe’s investment banks

    'We are all in this together' is not a view Europe’s investment banks will recognise when they compare themselves with their formidable US rivals, writes David Rothnie.

    • 08 Apr 2020
  • Asia has earned leadership — now it must show it

    The way Asian states including China have dealt with the coronavirus has put Europe and the US in the shade — now they should lead the international financial fightback.

    • 07 Apr 2020
  • Private equity is just another ownership structure

    Outrage has erupted among US progressives at efforts from the private equity industry to ensure their portfolio companies get a piece of government support for corporates. The buyout barons don’t do much to endear themselves to the public, but sponsor funds are just another legal vehicle for owning equity — and there’s no point punishing a company for its owners.

    • 07 Apr 2020
  • Bank capital: pretence is better than nothing

    Armies of wonks have spent the last 10 years dreaming up a panoply of bank capital tools, from additional tier one capital to MREL, to make sure “too big to fail” can never happen again. Next time, they claimed, private investors’ capital would be burnt in an orderly process, saving taxpayers from bailing out banks.

    • 02 Apr 2020
  • The virus crisis is a proving ground for CLOs

    CLOs are under acute stress as the coronavirus pandemic wreaks havoc on corporate credit, but the situation presents an opportunity for the market to prove itself to sceptics.

    • 02 Apr 2020
  • Bathroom breaks are the bane of working from home

    Investment bankers are now working from home en masse. That can lead to occasional moments of embarrassment.

    • 02 Apr 2020
  • Volatile funding costs: a test for Asian loans

    Rising dollar funding costs for Taiwanese banks have made them push an existing borrower back to the negotiating table so that they can demand better returns on a loan. More worrying than the triggering of the market disruption clause, however, is the volatility that forced the move.

    • 02 Apr 2020
  • HSBC's Quinn’s plan just got tougher to execute

    The bank has removed leadership uncertainty but the coronavirus means HSBC’s restructuring will be delayed.

    • 01 Apr 2020