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After years of inactivity, Asia will finally get the first legislative covered bonds from South Korea’s Kookmin Bank and Singapore’s DBS. But even though governments are keen on the product, the asset class is unlikely to truly blossom in the region. -
Green bonds, SRI, ESG — they’re all pretty much the same, right? Wrong.
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Banks, rightly, have been asked for more data and more disclosure than ever before – driven largely by tougher regulatory regimes. But regulators themselves still fall short of the transparency which market participants need.
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Turkish banks habitually follow wherever Akbank goes to their own advantage — but with longer dated financing they should follow for both their own good and that of the market.
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You know when you know what someone means, but what they’ve actually said is gobbledygook?
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Investors have been crying out for yield for months, and now they're available, they're not investing.
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A post-oil world is no longer a hippy fantasy. By 2100, G7 leaders have declared, the global economy should no longer be cooking on gas. Policy and markets now face profound change.
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The transaction that was supposed to open up the additional tier one market in South Korea ended up having the opposite effect last week as Woori Bank’s penny-pinching led to a heavy sell-off in secondary. Woori is unlikely to be damaged by the incident, but it needs to recognise that its actions have consequences for the rest of the market.
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HSBC global head of capital financing Spencer Lake lost no time ensuring his grasp on the International Capital Markets association when he was appointed its chair at the organisation’s annual general meeting last week.
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Banco Sabadell was right to approach its possible 10 year covered bond with caution. But if it had been serious about the longer tranche, it would have shown the market a realistic spread.
