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Bond specialists sceptical that auctions can yield better results than bookbuilding
Viswas Raghavan’s move to Citi from JP Morgan 18 months ago has shaken up both institutions and provoked an intense Wall Street rivalry
New firm mine. aims to build 'institutional memory' for borrowers
When staff complain, they deserve a fair hearing, not a wall of silence
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The distinction of being the widest constituent in the Markit iTraxx Europe is clearly one that most companies would prefer not to have. Yet Glencore has held this dubious honour since before the last index roll in March. It had a challenger in fellow miner Anglo American, but Anglo’s downgrade to junk and consequent removal from the investment grade index left the field open to the Swiss firm.
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Indexes that invest in options strategies have historically generated better returns and lower volatility than other key stock, bond and commodity benchmarks, according to a study backed by the Chicago Board Options Exchange.
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Standard Chartered has expanded Kaustubh Kulkarni’s responsibilities within debt capital markets as the bank seeks fresh opportunities in local currency bonds. -
Veolia Environnement priced its debut Panda bond on September 1, becoming the first French issuer to tap the onshore Chinese market. The firm was also one of the first corporates to be allowed to repatriate funds out of China despite ongoing capital controls, its treasurer told GlobalRMB.
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Credit risk has awakened from its summer slumber over the last couple of days with the CDX IG and iTraxx main index now trading 8% and 11% higher than their close on Thursday. While it’s still too early to see whether this latest surge is a passing event or a longer lasting trend, both indices are still below their 12 month averages and now trade roughly 40% off the highs set earlier in the year.
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The head of European high yield credit trading at Citigroup is leaving the bank to pursue a career away from rival banks.
