There's nothing new about auctioning bonds as a means to distribute them but this week, fintech BondAuction was involved in a deal for The Housing Finance Corporation that brought new technology to the idea and introduced it to a new section of the market. We discussed how it worked, how it was receieved and whether it will catch on as an alternative to traditional syndication away from the government bond market.
Another big tech theme in the capital markets is how they will accommodate the tech giants' needs for large volumes of debt to fund their AI capex plans. Oracle showed the way with a stunning $25bn bond syndication this week but moreover, it set its stall out for investors the day before, telling them in advance just what it was going to issue.
Like auctions, being clear about issuance plans may be common practice in the sovereign bond market but it was an unusual experience for the corporate mart. That said, now that some of the hyperscalers have borrowing needs akin to some European governments, we thought it seemed a sensible way to behave.
Finally, we looked at the bond market for financial institutions and wondered what could possibly derail issuance there given how strong deal execution has been, even as market conditions falter.
We were also joined by our sponsor MarketAxess's global head of emerging markets, Dan Burke. He spoke to us about developments in the EM bond market and how the electronic bond trading platform his company operates is evolving.
Read on:
Subscribe to GlobalCapital's Podcast
You can listen and subscribe for free on your favourite podcast platform including:
