Covered Bond Opinion

Sustainable finance players are enthusiastic about regulation, which they expect to bring clarity and order to the market. It may — though when the new EU rules are implemented they are likely to irk participants more than they expect. But what would be really effective are direct actions that bypass finance.

As Goldman Sachs hunts for incremental gains in its investment banking division, it need look no further than its European franchise, where it continues to trail JP Morgan, writes David Rothnie.

Conditions for issuance in the additional tier one market may be more attractive than ever, but there’s still good reason for some bank treasury teams to bide their time.

Jes Staley’s strategy has been vindicated, with Barclays’s corporate finance bankers having a banner year. But it has to invest in its European franchise to cement its credentials as the region’s leading investment bank, says David Rothnie.

Demand for covered bonds has surged higher in recent weeks, even though yields in the asset class have plunged lower. But issuers should not get too excited, as the balance of power is sure to tilt back in the favour of investors if yields carry on falling.

Bond markets have been exposed to an epidemic of optimism this January.

Credit Suisse has streamlined its investment banking and capital markets operation (IBCM) and is confident that it will return to form after a chastening 2019, writes David Rothnie.

A Bank of England rate hike is in no one's short term thinking. But if it happened, it could be dire for the housing market and therefore, for those parts of the capital markets that exist because of it.

The Asian bond market has been red hot since the start of 2020. With nearly every day bringing a number of blowout deals, it would be easy to overlook the three borrowers that have fallen short of completing their proposed transactions. But the failed deals may be a sign of things to come.

As head of BlackRock, the largest asset manager, Larry Fink’s pivot to responsible investing in recent years has been influential.