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GC Asia
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What price bonds in the Biden era?
A new era has begun in the US, with the swearing in of Joe Biden as president. For America and the rest of the world it is a sea change in leadership style and political substance.
21 Jan 2021 -
For corporate social bonds, SLBs are way to go
Social bonds have long been the poor cousin of green bonds. A smaller, less well organised market.
14 Jan 2021 -
Covered bond supply optimism is misplaced
This week’s burst of covered bonds was exceptionally well received and boosted supply hopes. But even though the funding was cheap and deal execution certain, the supply outlook remains grim.
14 Jan 2021 -
Blame the ECB for Spain's lost orders
Few deals have ever had €75bn of orders. Spain managed to lose that much, but still have €55bn remaining in the book. This is the world the ECB’s purchase programmes have built.
14 Jan 2021 -
Mighty ECB is clobbering the little guys
The European Central Bank’s bond buying programme is, for better or worse, the saviour of the corporate bond market, keeping access open for most issuers for all but a few days last year. But the easy money for borrowers big enough to access the bond market is inadvertently twisting the screws on already battered small and medium sized enterprises.
07 Jan 2021 -
Wall Street must speak earlier to defend democracy
Leading US financial institutions were quick to condemn the shocking attacks on the US Capitol on Wednesday — a sign that they are willing to take positions on important social issues, in line with the industry’s eagerness to align with good environmental, social and governance standards.
07 Jan 2021 -
Be boldly green, Boris: investors will back you
As Boris Johnson embarks on a green industrial revolution, he has happened upon one of those rare moments when government policy seems completely aligned with investor appetite. The UK must use this capital markets sweet spot to transform its energy infrastructure next year and beyond.
17 Dec 2020 -
Transition finance — green bonds grow up
Green bonds awakened the debt capital markets from their long, slumbrous ignorance of environmental peril.
10 Dec 2020 -
Debt cancellation: not today’s fight
Not content with the central bank purchase programmes of seemingly infinite elasticity, some Italian officials have recently floated the possibility of the ECB forgiving the debt it has purchased. This is illegal, and changing the law is not what Europe needs at the moment.
10 Dec 2020 -
Is UniCredit a solution to Italy's problems?
Jean Pierre Mustier's departure from UniCredit may help Italy in an attempt — shared by governments and supervisors around Europe — to push the banking sector to help solve economic policy problems during the pandemic.
03 Dec 2020
