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Crisis Talk — Carson Block, CIO of Muddy Waters: ‘If capitalism breaks, it’s capitalists who broke it’
Muddy Waters has fostered a fearsome reputation as a credible, thorough and forceful short seller whose explosive reports are a danger to anyone harbouring a stake in its intended target. Carson Block, its founder and chief investment officer, told GlobalCapital he has never been wrong about a company he’s shorted, though that doesn’t mean he’s made money from every position he has held. According to Block, monetary policies intended to stimulate markets through financial crises actually corrode them, and stifle accountability for serious failures in corporate governance.
11.00 AM -
The week in review: Xi explains GDP growth rationale, regulators offer details on stimulus package, China’s foreign minister issues warning to the US
In this round-up, China’s top government officials, including president Xi Jinping, discuss key economic targets and a fiscal stimulus package, and foreign minister Wang Yi warns the US against a ‘new cold war’.
25 May 2020 -
Crisis Talk — with Jingdong Hua of the World Bank
Jingdong Hua has seen his fair share of crises. In Africa when the Rwandan genocide happened, in the Philippines when the Asian tsunami hit, in New York City when the twin towers fell on 9/11, he now finds himself in Washington, DC at one of the key institutions the world is desperately looking to to lead it out of the coronavirus crisis.
22 May 2020 -
China markets round-up: PBoC keeps May LPR steady, stock exchanges welcome short-term bonds, Fidelity to enter mutual fund market
In this round-up, China’s central bank leaves the benchmark loan prime rate (LPR) unchanged for May, the stock exchanges of Shanghai and Shenzhen will allow companies to sell bonds with maturities under one year, and fund manager Fidelity International is looking to break into the onshore mutual fund industry.
22 May 2020 -
Capital markets digest Hong Kong ‘death knell’
Hong Kong’s equity markets took a hit on Friday and sentiment soured among bond investors over news that China is considering enacting the national security law in Hong Kong. Bankers have described the possible impact as everything from a “death knell” to a “flash point” for the special administrative region’s markets.
22 May 2020 -
Hang Seng Index opens door to WVR stocks
Hong Kong’s benchmark Hang Seng Index made a historic change this week, allowing companies with weighted voting rights (WVRs) and secondary-listed shares on to the index.
21 May 2020 -
The week in review: CSRC chairman vows ‘zero tolerance’ on fraud, central bank governor reviews Covid-19 monetary policies
In this round-up, the chairman of China’s top securities regulator says the country will step up on its crackdown of fraudulent behaviour in the financial market, and the governor of the People’s Bank of China (PBoC) talks about policies to overcome the impact of the pandemic.
18 May 2020 -
Fitch gets nod to rate onshore China bonds
Fitch Ratings has won a licence to rate domestic bonds in China, becoming only the second foreign firm to get access to the Rmb103tr ($14.6tr) market.
15 May 2020 -
The week in review: CBIRC fines trio, central bank talks up LPR reform outcome, local government bond issuance slows
In this round-up, the Chinese banking and insurance regulator fines three commercial lenders, the People’s Bank of China reviews the implementation of its monetary policy in the first quarter, and the pace of local governments selling bonds moderates in April.
11 May 2020 -
HK’s syndicate teams emerge from lockdown, mull future
Hong Kong’s citizens are slowly returning to the office as the special administrative region loosens its Covid-19 linked restrictions. But as the world continues to battle the pandemic, bond syndicate teams are continuing to take a flexible approach to work, with some predicting a longer-term future of remote roadshows and hot-desking at banks.
11 May 2020
