GlobalCapital Leader

• Time to ponder cross-asset clearing

  It has been a long road for FX options but finally the clearing industry has arrived at a solution for the asset class to play catch up to other derivatives.

  • 12 Jul 2018

• Buy Greece, sell Italy

  Greece is on a roll and the good news keeps coming. It's putting Italy in the shade.

  • 12 Jul 2018

• ‘Operation Twist’ is a bust

  Speculation is rife that the European Central Bank will mimic the US Federal Reserve’s ‘Operation Twist’ from a few years ago, focusing reinvestments from redeeming bonds bought under the public sector purchase programme into long dated paper. While there has been some impact from the news, any benefit is likely to be limited.

  • 05 Jul 2018

• MREL: show and tell

  It shouldn't be unreasonable to dream of a full disclosure of minimum requirements for own funds and eligible liabilities (MREL) for EU banks.

  • 05 Jul 2018

• Treasurers may pay for lack of pragmatism

  Corporate treasurers are sometimes portrayed as risk averse individuals who pore over financial models to deliver the safest funding for their companies. They do, however, also have a responsibility to raise those funds at the lowest cost. Pragmatism is a trait companies should value highly in a treasurer.

  • 28 Jun 2018

• Bold hiring statements

  Other than balance sheets, all banks have to offer is their people. And this week, Nomura made an unusually large statement, hiring three of them at once to bulk up its EMEA rates business.

  • 28 Jun 2018

• Dollar market proves it’s still the go-to option

  When Sanofi raised all €8bn of the funding it needed for its acquisitions of Ablynx and Bioverativ in March, much was made of how this showed the capability of the European market to take down large M&A financings. But if Europe is now so capable, why then did Bayer, one of Germany’s brightest corporate stars, take 75% of the €22bn of financing it needed to buy Monsanto from the US instead?

  • 21 Jun 2018

• A sterling effort by EIB

  The European Investment Bank deserves serious plaudits for taking the plunge this week with a sterling floating rate note that pays coupons linked to Sonia rather than Libor — no matter how well the deal goes.

  • 21 Jun 2018

• The investor push-back begins

  SSA borrowers have long been used to having it their way amid the exceptional monetary easing meted out by central banks since the global financial crisis. But this week could be the moment things started swinging back in favour of investors.

  • 14 Jun 2018

• Green covered bonds can fill CBPP3’s void

  DNB Boligkreditt showed this week that borrowers have a very good incentive to consider issuing green covered bonds, especially now that the European Central Bank has signalled its intention to reduce net buying of assets under the Covered Bond Purchase Programme (CBPP3) to zero by December.

  • 14 Jun 2018

GlobalCapital Leader archive