The View

  • Opposing Views: should SSAs cut fees?

    Opposing Views: should SSAs cut fees?

    The debate over whether SSA borrowers should pay less in underwriting fees has split the market since the EU told banks it would pay less than the standard rate for its €800bn Next Gen EU bond programme. It is "the only topic" under discussion, one senior SSA banker told GlobalCapital this week. Is it fair to pay banks less when central banks underpin the market, or will issuers jeopardise their position long-term? Here, we present arguments for an against a shake-up of the way banks are paid.

  • Corporates must be more transparent on sustainability-linked loans

    Corporates must be more transparent on sustainability-linked loans

    By being allowed to hide the details of sustainability targets and incentives, Europe’s investment grade corporations are being given an easy ride when it comes to sustainability-linked loans. They must be more open if the market is to remain credible.

  • Technology won't put bankers out of jobs

    Technology won't put bankers out of jobs

    The increasing pace of technological change in the capital markets might worry some bankers who fear they’ll be replaced by algorithms and distributed ledgers, but they needn’t be concerned.

  • Big tech crackdown: the winners and the losers

    Big tech crackdown: the winners and the losers

    China’s latest crackdown on some of its largest internet companies should raise a critical question — who are the real beneficiaries of reining in the country’s technology titans?

  • ESG progress needs the sharp and the blunt

    ESG progress needs the sharp and the blunt

    A small band of committed investors in Tesco has achieved spectacular success with a shareholder motion on healthy food. This should embolden investors to hold issuers to account on a wider range of social matters — and also contains a deeper lesson about how markets bring about change.

  • How green is your budget?

    How green is your budget?

    ‘Look at the issuer as a whole’ is the mantra of the corporate and supranational green bond markets, and rightly so. But we need to apply the same approach to sovereigns.

  • China-US IPOs are speeding up, not slowing down

    China-US IPOs are speeding up, not slowing down

    Chinese companies have raised equity in the US at a record pace this year. The deal flow has quashed fears that a hostile White House would dissuade China’s hordes of technology startups from listing on the New York Stock Exchange and Nasdaq.

  • Attacks on 'woke capital' put GOP at odds with markets

    Attacks on 'woke capital' put GOP at odds with markets

    Senator Marco Rubio is the latest Republican in the US to launch an attack on what conservative voices have recently dubbed “woke capital,” apparently putting the GOP at odds with an investment world that has embraced ESG.

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