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Issuance has kept going by giving investors just what they want
John Healey resigned because the money was not there for defence. It may not be there for anything
Bifurcation is emerging in how investors treat the hyperscalers
Investors should feel more confident when BNPL products are regulated like mainstream consumer credit
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The European Financial Stability Facility may not have to print oversubscribed benchmarks just to show that the eurozone isn’t falling apart any more, but it still has to step up on occasion.
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Kaisa Group Holdings became the first Chinese property company to default on its offshore debt when it announced on Monday that it had failed to pay $51.6m of coupons on two of its outstanding dollar bonds. The news barely made an impact on secondary prices, as the default had been well flagged, but markets should not relax yet. Kaisa may not be an isolated case. -
There are plenty of reasons to commend German legislators’ attempts to subordinate senior debt to other operating liabilities, but other lawmakers shouldn’t rush to follow their example.
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Goldman Sachs reported quarterly results last week that were, by any measure, stellar. But some of the numbers look a little bit too special.
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A panel set up by India’s Ministry of Finance to review the rules for companies borrowing money from overseas has made the radical suggestion of doing away with the current system and immediately liberalising the regime. Such an approach is likely to be too much of a shock to the country’s financial system. The government would be wise to adopt a more gradual approach.
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European central bankers might be buying the market, but they still lack faith in the European project. That is the only conclusion to draw from the securities lending arrangements announced before Easter.
