The GlobalCapital Asia View

• US tariff deadline could spoil Christmas for ECM

  

  Equity markets, particularly European ones, are largely focusing on the UK election as the last opportunity for pre-Christmas volatility. But investors should remember that other shocks remain possible, including the scheduled imposition of US trade tariffs on China on Sunday.

  • 10 Dec 2019

• In defence of Denmark's green idea

  

  Denmark’s debt officials have a highly original plan to issue green bonds in which the green element can be stripped off and traded separately. It’s going to put many a green nose out of joint. That’s no bad thing: the market needs to re-examine its claims to efficacy and virtue.

  • 10 Dec 2019

• China needs to get going on TLAC bonds

  

  Crédit Agricole bagged a total loss-absorbing capacity eligible senior preferred Panda bond in China last week — the first of its kind onshore. But the confusion it created shines a light on a market that is still in dire need of education around these new structures. With Chinese banks set to come under pressure soon to issue their own TLAC-eligible bonds onshore, rapid change is needed before time runs out.

  • 10 Dec 2019

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Clawback

Former ECM banker Philippe Espinasse dissects Asia's equity capital markets.

• Flying high in the year of the pig

  In his latest Clawback column, Philippe Espinasse takes a look at the Hong Kong stock exchange’s new three year plan and its desire to be a global listing hub.

  • 08 Mar 2019

• Stabilisation profits: sharing is caring

  Clawback columnist Philippe Espinasse turns his attention to one of the ECM world’s best-guarded secrets: the profits banks can make from stabilisation.

  • 13 Feb 2019

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Southpaw

• Deutsche looks to snip its way back to stardom

  Deutsche Bank has told investors that its investment bank is back on track. Cutting costs will be a crucial part of reaching growth targets. But after so many false starts, can it really be that simple, asks David Rothnie.

  • 12 Dec 2019

• Houlihan’s European expansion rolls on

  Houlihan Lokey’s European corporate finance land grab has made its fifth acquisition since 2014, writes David Rothnie, at a time when the fluctuations of the credit cycle may be about to lead to more restructurings.

  • 05 Dec 2019

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