Europe

Cryptocurrencies had an incredible run last year, but for them to really hit the mainstream, their advocates should study the sort of old money institutions many of them oppose: central banks.

The International Capital Market Association chose its 50th anniversary AGM to appoint its first ever female chair to lead its board and oversee how the association determines best practices for the capital markets.

Investors and analysts are assessing Italian banks in light of the fall in their capital ratios resulting from their exposure to sovereign debt.

The IPOs of Danish IT services firm Netcompany and Dutch payments company Adyen are generating a buzz among investors, a welcome relief for many after a disappointing period for European listings.

The UK Debt Management Office’s next syndication will be a new index-linked Gilt in the 20 to 25 year part of the curve. Some investors and Gilt-edged market makers had called for that tenor a week ago, although others had been looking for a longer dated issue.

Jitters over Italy’s political turmoil receded slightly on Thursday, giving Asia’s stock and bond markets a bit of respite, even as talk of a trade war between China and the US reappeared.

The Panda bond pipeline is bursting at the seams with red chip Chinese names and SSAs preparing for renminbi deals, prompting some in the market to predict a new era of growth for the asset class.

Investment house Hermes launched a new liquid credit fund this week, catering to clients seeking shelter from market volatility while foraging among new markets about which they know less.

Paragon Group, the UK ticket printing company, has tapped a euro private placement it issued in April, raising €35m.

Deutsche Börse’s CEO, Theodor Weimer, on Wednesday committed to greatly reducing the exchange group's structural costs by 2020 while doubling down on growth, technology and acquisitions.

Italy passed its first debt raising test since its yields blew out earlier in the week amid fears of another round of elections, as it auctioned bonds near the top end of its target volume range on Wednesday. But the sale did show the elevated borrowing costs the country faces.

Toronto Dominion took advantage of a brief respite from volatility in the European government bond market to issue a €1bn seven year transaction on Wednesday.