The Mumble: there’s plenty to watch out for next year

SSA borrowers will be able to relax a bit over the Christmas holiday now that the speculation over when Federal Reserve quantitative easing will kick in has been resolved. Although tapering has come three months earlier than expected, at least now issuers can get to grips with defined issues. But dealing with a rising rates environment won’t be all they have to contend with: there’s the impact of a raft of regulation and dramatic moves in the euro/dollar basis swap to think about too.