Top Section/Ad
Top Section/Ad
Most recent
Turbulent market conditions of the Middle East war have pushed bond issuers and investors to try new things
A swift response is tempting, but lenders should avoid kneejerk reaction
Talk of de-dollarisation has evaporated. The dollar market remains the undisputed king of financing
Inflation caused by war threatens budding recovery in commercial real estate
More articles/Ad
More articles/Ad
More articles
-
Having been labelled ‘toppy’ in some quarters last week after a quick-fire 15 year sovereign sukuk, there is no sign of a retreat this week from Dubai or its neighbour Abu Dhabi. Investors have set aside nerves once again and scampered to fill their shopping carts with Majid Al Futtaim and Taqa 10 year bonds. Then again, there are plenty of reasons to brush off toppiness for now and say Dubai ain’t all bad.
-
Investors blame the banks, banks blame the issuers, and everybody hopes the regulator will step in to save the day. But if companies are to stop hiring the entire street for Hong Kong IPOs, the incentives for bankers need to change.
-
The CLO market is ready for more supply and ripe for innovation, but that optimism is tempered by threats of a liquidity crunch in non-Volcker-compliant triple-A paper. The market is hoping for a deal on legacy CLOs to stop a trading freeze, but if that doesn't happen, it needs to wake up to two uncomfortable truths.
-
Housing associations have been actively funding using the private placement market this year. But as the issuers’ main investor base for their sterling notes dwindles the borrowers should look to diversify into euro private placements.
-
The ECB is ready to look at quantitative easing. No time like five years too late, the Anglo-Saxon world might justifiably comment. But actually, for much of the eurozone, it’s still much too early. The ECB, tasked from this year with oversight of Europe’s banks, surely knows this, but that hasn’t stopped it using QE talk to frighten the markets into keeping long-end rates low.
-
Banking funding rules should have diversity and stability in mind, and steer clear of favouring one funding format over another. But a Basel consultation document on the Net Stable Funding Ratio published this month promotes the exact opposite, and will make bank funding less stable.