-
As the final moments of the dramatic FIFA World Cup drew to a close on Sunday night — with Germany’s 1-0 victory against Argentina sealing their country’s place in the annals of history as the 2014 world champion — fixed income dealers across Europe were still frenetically tracking down and trading, not bonds but Panini stickers.
-
So that’s what a crisis feels like. We’d almost forgotten. European stocks down nearly 4% in the past week, Portugal’s CDS spread shooting from 157bp to 218bp. Banks’ newly minted CoCo tier one bonds dropping three percentage points in a day.
-
More than half a decade after the crisis, one bank has seen fit to make sure its compliance professionals actually know what compliance is and how to be a professional at it. -
With €70bn sold this year, covered bond issuance should trounce last year’s €98bn total. Better still, with several countries returning to the market and regulations likely to improve conditions, this year’s progress should be sustained for years to come.
-
SRI bonds have come a long way over the last 18 months, going from a somewhat esoteric asset class to being a must-issue for any agency that wants to show its commitment to green or ethical causes.
-
Chinese banks would need to raise up to $410bn of capital by 2018 in order to meet Basel III requirements – a mammoth task, to say the least. Regulatory restrictions mean there are not that many avenues open to them to manage their capital levels, but securitization is one area that authorities are encouraging. It could help a lot.
-
Al Hilal’s additional tier one perpetual sukuk drew big demand on Tuesday and set a template for further deals of its kind. Not everyone was convinced that the aggressive price compensated for what was essentially equity risk, but while the doubters may rue missing out this time, investors should carefully heed the warnings they have raised.
-
Al Hilal’s additional tier one perpetual sukuk drew big demand on Tuesday and set a template for further deals of its kind. Not everyone was convinced that the aggressive price compensated for what was essentially equity risk, but while the doubters may rue missing out this time, investors should carefully heed the warnings they have raised.
-
Turkey has endured a year of turmoil since the Gezi Park protests and a prolonged emerging market sell-off derailed its economic boom. But even as protesters and police mark the anniversary with another splash of tear gas, Halkbank’s result last week shows Turkey’s banks have a prime opportunity to return to the bond market and underscore the country’s strong recovery. Banks thinking of waiting for the third quarter might do well to come now.
-
The European Central Bank moved its deposit rate into negative territory on Thursday. Such a move is unlikely to boost lending to the real economy, and could come with unintended consequences for the money markets.
