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When staff complain, they deserve a fair hearing, not a wall of silence
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
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Russia is now subject to its toughest economic sanctions since the end of the Cold War. With the US and Europe effectively closed to them, Russian borrowers are searching for other options. Asia is top of their list, but they are unlikely to find the support they want. -
It would be absurd for a banker to lobby for a ban on the instrument of his or her trade. And yet, the European Union’s latest round of sanctions against Russia has created an absurdist’s dream in which syndicated loans were not banned but it might well have been better for western bankers if they had been.
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Loans bankers were looking for silver linings this week in the run up to deeper sanctions against Russia. At least the market has shut down in August, when Russians take their summer holidays. No deals would have been done anyway, so no matter. But the situation will not be over by the autumn, and August is not the listless month many market participants assume.
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The Russia-Ukraine crisis has risen from its slumber in a roaring angry temper. Russia’s next recovery in the capital markets may not be as quick or as painless.
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Ireland’s finance minister Michael Noonan has proposed refinancing part of Ireland's bailout loans from the International Monetary Fund, while keeping its less expensive borrowing from the European Union — a decision that contravenes the original terms of the programme. It is good news that Ireland is strong enough to even consider this option, but EU leaders should think of the precedent it sets before agreeing.
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Deutsche Bank, according to recent wisdom, trades too many bonds. Or rather, it doesn’t trade nearly as many as it had planned to. Global fixed income volumes are on the floor, banks cannot hold much inventory, margins are under pressure. Clients are over-broked, prop trading is over, and you still have to pay everyone. But is the German giant ramming that back down critics' throats?
