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Chemical sector's growing uncompetitiveness a problem when it comes to attracting investment in the capital markets
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
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The true horror of the sovereign crisis has finally been exposed. European leaders have made out that they were administering a minor nip and tuck. Instead they have presided over a botched vivisection and their patient, European sovereign finance, is now in critical condition. Yet there is no sign that they have the means to dispense a cure.
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It’s the job of capital markets intermediaries to foster trust between buyers and sellers — sadly lacking in recent European IPOs. So, well done to Bank of America Merrill Lynch for sticking its neck out and making public proposals to improve the tone of market debate.
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Liquidity in leveraged loans has become scarce. A temporary solution in the form of prepayments to CLOs may be only months away, but a timely reminder has arrived that leveraged loans are only living thanks to a diet of existing liquidity from the pre-crisis years. Market participants should not panic, but complacency could be fatal.
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The latest whinge about Europe's bank stress tests is ludicrous. The tests are short of the mark, not over it.
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Thailand’s recent election could have scuppered the country’s attempt to price its debut inflation-linked bond last week. But investors ignored the possibility of political violence and jumped into the deal. They were right to do so. Inflation in the country is only going one way — especially if the new Prime Minister pushes ahead with her populist campaign pledges.
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Emerging market borrowers have never had it so good. Such is the demand for their public bonds and loans that they can name their currencies, their amounts and their price. They should use these golden days to establish regular MTN issuance, a strategy that will serve them well when market conditions inevitably turn against them.