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Structured Bonds

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  • Biofuels have swollen thanks to policies to combat climate change — even though often, they do not help the problem and can make it worse. This is a shocking record, born of ignorance, both accidental and wilful.
  • Rating agencies and investors are realising they have more in common than they thought when it comes to environmental, social and governance (ESG) factors. And they are more inclined now to work together than find fault.
  • Lloyds Bank's former head of loan markets, who subsequently became its global head of industrials and manufacturing, has left the bank.
  • Portfolio manager Bill Gross, regarded as a legend of the fixed income investment world, announced his retirement on Monday, after a torrid year for the global unconstrained bond fund he managed at Janus Henderson Investors.
  • Green bond watchers are putting out their forecasts for issuance this year, hoping for a return to growth after a disappointing 2018. The year has started decently, with at least $6bn issued so far, including this week’s debut issue from Telefónica, hailed as the first from the telecoms sector.
  • Pacific Gas & Electric has gone bankrupt with $52bn of debt, blaming forest fires that seared California during 2018. Vale, with $11bn, has been downgraded to the bottom edge of investment grade after its horrific dam burst last Friday.