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Benin reaped the rewards of its sukuk debut last week, and will do so for years to come
Little green men could be closer than they appear
Scrutiny of regulatory proposals by those without securitization expertise is a feature, not a bug
Weak or half-hearted response to Greenland threats will leave markets crumbling
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Italy’s latest political drama is making investors nervous, and rightly so — when the leader of a country’s main governing party accuses European leaders of market ‘terrorism’, in the vein of an ‘EU equals the USSR’ conspiracy theorist, then you’d be right to dump its bonds. But the steadiness of Spanish and Portuguese govvies through all this shows not only that the term ‘eurozone periphery’ may have to be consigned to the historical dustbin, but that the firewalls erected by those same European leaders after the last sovereign debt crisis are standing firm. -
The covered bond market has a reputation for allowing tough trades to be done, so when My Money Bank postponed its debut deal, the product was imprudently tarnished. The situation could have been avoided had the deal been launched a week earlier or sometime later — just not last week.
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The lengthy complaint about HSBC management drafted, purportedly, by investment bankers at the firm must be taken seriously and investigated, if its new chief executive John Flint wants to win the confidence of the rest of the staff and shareholders, argues Jon Hay in a GlobalCapital View.
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Hanwha General Insurance’s failed attempt at a tier two dollar bond last week shows that not all South Korean credits can win over investors, as the buy-side looks at the country’s insurance borrowers with a lack of enthusiasm and a healthy dose of scepticism. With more Korean insurers set to hit the market, it’s time they reassess their approach to fundraisings.
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The demise of Wonga.com brought the payday lending industry back into the public consciousness. With socially minded investors scrambling to find assets, this industry seems ripe for intervention via social financing.
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The authors of the controversial mutiny memo at HSBC have understandable frustrations, but their tactics leave something to be desired. The bank’s new chief executive will have to take their concerns seriously and act to restore confidence, but cannot manage HSBC on the basis of anonymous comments about its senior executives. If corporate finance at the bank does need fixing, this will have to wait.
