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CLO mezzanine investors are paid high spreads precisely because impairments are a possibility
Covered bond issuers have been reluctant to issue on the same day as a central bank announcement, but this is starting to change
Markets are looking to the authorities to simplify blockchain issues, but they may not have the purest motives
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The issuance calendar between now and spring promises rain. Negative carry is the price of staying dry.
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There are moral and economic reasons to take wildfires seriously
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Bond market digitisation starts with the paperwork
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Not every borrower can print overseas in their local currency, but for those that can, it is a great tool
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Issuers have frontloaded their core currency funding and could benefit from turning their attention to other projects as the year draws to an end
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Reforms should focus on banks' access to liquidity, not capital