-
The surprise takeover of troubled Baoshang Bank, together with the resignation of Bank of Jinzhou’s auditor, is a wake-up call for a market that had enjoyed a rosy outlook. -
Greek stocks and bonds jumped this week on the news of a bad result for governing left-wing party Syriza in the European elections and the announcement of a snap national election, increasing the prospect of pro-market and centre-right party New Democracy taking power soon. But the revision of asset valuation on the back of this doesn’t add up.
-
Commerzbank is expanding its investment banking business as it doubles down in its domestic heartland, writes David Rothnie.
-
The speed with which sterling sub-sectors have switched their benchmark rate from Libor to Sonia has been astonishing. There’s still some way to go, particularly in the corporate market, but the transition, which looked almost unassailable in 2017, might just be done on time.
-
Theresa May’s statement today that she will step down as leader of the Conservative Party on June 7 has increased the likelihood that the UK will leave the European Union without a deal, meaning capital markets need to prepare for the worst again.
-
The UK’s approach to regulating banks points in opposite directions, as Tesco Bank’s decision to exit the mortgage market shows. But this will not matter to the customers it is supposed to benefit.
-
Spain has a limited amount of time to bring its Cédulas framework into line with the EU's Covered Bond Directive. A legal update is probably going to be less disruptive than a completely new law — but neither option is perfect.
-
Metro Bank shareholders are nursing losses of around 70% since the start of the year. But if this is the worst of UK banking’s problems right now, the sector is in pretty good shape as it faces Brexit and digital disruption.
-
As UK loan, bond and derivative market participants work to the deadline of December 31, 2021 to stop using Libor, one of the biggest hurdles is how to calculate the new reference rate: Sonia.
-
Dismal European growth has weighed on rates, forcing buyers down the curve in search of yield and spread. A sharp turnaround feels distant, but a stabilisation has already materialised and investors that piled into long-dated bonds may come to regret it.
