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Syndicate and trading executives get wider responsibilities
Weak or half-hearted response to Greenland threats will leave markets crumbling
Promotion after strong gains in corporates and MTNs
Recruit will join Mizuho bond desk at the end of the month
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The worsening of the Covid-19 outbreak has battered equity prices and sent investors scurrying for the safety of core government bonds. Most primary markets are all but shuttered, and investors are praying for central banks to provide a glimmer of hope. -
The Bank of England turned up the heat on Libor this week with plans to publish a compounded Sonia index and averages in a move that will drive the transition to the new risk-free rate with a simpler coupon calculation methodology. It will also increase haircuts on Libor-linked collateral which is intended to accelerate the switch out of Libor FRNs maturing after 2021.
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The head of the World Bank has launched an outspoken attack on the European Central Bank’s monetary policy, saying its mass purchases of long-dated sovereign bonds was distorting markets and failed to provide short-term finance.
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MUFG has put one of its co-heads of debt capital markets at risk of redundancy.
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The Bank of England has said it intends to publish compounded Sonia averages and a Sonia index using a ‘shift’ calculation method by the end of July, subject to feedback on a series of questions it has asked sterling market participants. This follows the first deal using that method from the European Bank for Reconstruction and Development Bank last week.
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Investors who have been longing for the EU Taxonomy of Sustainable Economic Activities to tell them what is green are now realising that its arrival could make life tricky. From the end of next year, they will have to start reporting how sustainable all their portfolios are. It could prove an enormous headache. But a tiny company has developed a tool it claims can cut out a lot of the worries investors face in working out how to comply.
