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Emerging Markets

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◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
Swiss investors retain appetite for credit as yields become more attractive
As war drags on, banks are boosting hoards of cash after deposit outflows

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  • HK bans Leissner for life over 1MDB scandal – BofA names new Apac IB co-head – CS nabs equity research head – Nomura loses senior Malaysia banker – New appointments at Goldman
  • The Chinese Ministry of Finance (MoF) completed its maiden Rmb1.7bn ($247m) three year offshore renminbi bond in Macau on Thursday, pricing it slightly higher than onshore government bonds.
  • The arrest of Future Land Development Holdings’ founder and chairman caused a sharp sell-off in the Chinese property company’s dollar bonds, with analysts worried the incident may hurt its debt-servicing ability in the short and long term.
  • Swedish car manufacturer Volvo made its debut in Hong Kong dollars on Wednesday amid increasing tensions and unrest in the city.
  • The Latin America primary bond market was quiet this week thanks to dollar investors instead enjoying the US Independence Day holiday, but bankers say sentiment is at its strongest at least since January 2018 as several of the region’s issuers lined up roadshows.
  • The Hong Kong securities watchdog has banned former Goldman Sachs banker Tim Leissner from working in the city’s financial industry ever again for his involvement in the 1MDB multi-billion-dollar money laundering scheme.