-
Everyone knows the City votes with its wallet, and a Labour government will cost its professionals dear. But the Conservatives threaten its very existence. -
Until recently, green covered bonds were always more of a theoretical discussion than one that had taken root. But they could be just what the central bank-oppressed market needs.
-
There are plenty of reasons to commend German legislators’ attempts to subordinate senior debt to other operating liabilities, but other lawmakers shouldn’t rush to follow their example.
-
Goldman Sachs reported quarterly results last week that were, by any measure, stellar. But some of the numbers look a little bit too special.
-
Covered bond yields and spreads are spiralling lower. The prospect that wafer thin margins grow thinner has led to a legitimate concern that a turning point in investor tolerance may follow.
-
Now that we’re eight years into the global financial crisis, isn’t it time that the lessons learned were transferred from bank risk management to other important areas? Basel III for the family, anyone?
-
The eurozone’s banking system is bloated, overpopulated and, from the point of view of lending, inert. It is a problem that can be fixed, but national authorities, too bogged down by national politics, aren’t the ones that are going to do it.
-
The spread between the weakest and strongest covered bonds is tighter than at any point in the last five years, thanks to the European Central Bank’s backstop bid. But just because the ECB is willing to buy anything and everything that qualifies as a covered bond, that doesn’t mean investors should.
-
FX and macro volatility is back in a big way, so the succession of miserable quarters in fixed income, currencies and commodities should be over. But investment banks have not fixed long running problems with the business.
-
The Bank of England's new template for stress testing UK banks might be an improbable collection of fat tail events. But there's an important, and probable, risk missing from it.
