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Sustainable finance chief among those affected
Sentiment towards affected major banks improves but major ratings agency judges overall situation credit negative
DCM changes follow Harding-Jones taking over IB business
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Spreads on bank bonds were sent shooting wider again on Thursday, caught up in further negative news around the Covid-19. But market participants are still unsure about how much of impact the pandemic will have on bank credit quality, with the sector already facing pressures over profitability. -
Patrick Porritt has left Credit Suisse, as the bank promotes new faces.
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Members of the European Banking Federation have called on supervisory authorities for help through the ‘temporary struggle’ of the Covid-19 pandemic, asking them for looser capital and liquidity requirements and special treatment of lending impacted by the virus.
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The coronavirus will depress mergers and acquisitions activity, hurt advisory revenues and change the emphasis of deal-making in 2020, writes David Rothnie.
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Liquidity in corporate, financial and emerging market bonds has certainly been affected by the recent stress caused by the Covid-19 coronavirus pandemic. But there has not been a catastrophic collapse. Participants say markets are still functioning, and some means of trading have benefited.
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The Bank of England’s unscheduled decision to cut rates and encourage banks to lend to the real economy on Wednesday morning was viewed as a powerful step by some in the market, although it is very unlikely to put to bed economic uncertainty over the impact of coronavirus.
