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As war drags on, banks are boosting hoards of cash after deposit outflows
Just getting a deal done should be considered a success
Deals in the past fortnight have been solid but US Treasury yields are volatile and rising
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The US Federal Reserve delivered what one syndicate banker termed a “hawkish cut” on Wednesday, as US Federal Reserve chairman Jerome Powell indicated there is no hurry to follow the 25bp interest rate cut with further monetary loosening. Emerging market bonds and US equities sold off as the mood darkened, with fears that further selling will be triggered. Sam Kerr, Lewis McLellan and Francesca Young report.
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Renaissance Capital has hired Funeka Beja-Maseko as a retail analyst at director level, and Andrew Nkumbula as a vice-president for investment banking. Both are based in Johannesburg, South Africa.
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Riskier credits are missing their window to print bonds. Rates are plumbing ever lower and investors are forced to seek out yield ever further along the credit spectrum. It won’t last forever, but now is the time for ambitious deals.
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Crédit Agricole has appointed Sébastien Domanico as head of global markets for Europe, the Middle East and Africa, just weeks after he was picked to lead a different division at the bank.
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Bank of Sharjah is planning to print both tier one and senior bonds before the end of 2019, according to two DCM bankers in Dubai.
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