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The new European Secured Note market is keen to secure regulatory recognition for the new product but there are advantages to not having it
The possible further internationalisation of the covered bond market will present challenges as well as opportunities
Record-tight dollar spreads flatter public sector borrowers — and flag a deeper unease about the benchmark itself
If it looks like a covered bond, acts like a covered bond and prices like a covered bond, then it probably should be treated like one
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  • Bond markets have been exposed to an epidemic of optimism this January.
  • As head of BlackRock, the largest asset manager, Larry Fink’s pivot to responsible investing in recent years has been influential.
  • The stars have aligned for Banca Monte dei Paschi di Siena following its rescue by the Italian state. It is hard to see how other banks could be so fortunate.
  • The sustainability-linked loan market is a glorious mess.
  • While voters who wanted to get Brexit done won a clear path to leave the European Union in December’s general election, the financial industry should be preparing itself for a protracted period of scattered and gruelling negotiations.
  • European Union member states are finding more and more ways to prop up failing financial institutions with public money. The longer it goes on, the harder it is going to become for authorities to crack down on a culture of bailouts.