Free content

Banks that have access to diverse pockets of demand will be far better equipped to deal with any contraction in central bank liquidity, which could occur if high inflation spooks policy makers and markets.

The G20 has given hope to those wishing to see multilateral development banks increase their lending by stretching their capital further. If a breakthrough is made, ratings will be a crucial part of it.

The EU has made a quick start to funding its €800bn Next Generation EU programme in the bond market, with €25bn done in two of three syndications scheduled for June and July. But will the huge level of borrowing turn out to be as temporary as promised?

The possible flotation of a Russian hospitals group is being billed as a revival of the country’s IPO market, with more deals to follow. Bankers pointed to the recent US-Russian summit in Switzerland as cause for optimism but investors should remain as sceptical as they appear to be about the rest of the IPO market.

The next 10 years will be tough for central and eastern Europe, economically and politically. Willingly or not, it will have to cut carbon emissions. States in the EU have agreed deep reductions by 2030. But exactly how, when and where the changes come remains to be thrashed out. None of it will be easy — and one of the most important tasks will be to retain the confidence of financial markets. Jon Hay reports.

An exciting rebound in the flow of China-into-US listings took an unexpected hit last week when online grocery start-up, Missfresh, plummeted on the first day of trading. While this is worrying, investors are still positive around these IPOs.

The tide of leveraged finance docs has gone out, and it isn’t coming back in. Lenders have only the comforting embrace of sponsors to rely on. But that’s the game today, and you have to play it.

In this round-up, China’s industrial profit growth moderates in May, Geely Automobile Holdings will not pursue a planned listing on the Star market in Shanghai, and Beijing approves the first onshore perpetual bond from a policy lender.

The demand for sustainable finance has exploded in the last few years. It is a hotbed of innovation as debt issuers look to make the most of investors’ desire to fund a better world. This week, GlobalCapital considers one of the most recent innovations: sustainability-linked debt.

Could San Francisco-headquartered Wells Fargo crack EMEA DCM? Its latest hire suggests that it is about to have a swing at it.

I have used Covid-19 as an excuse to avoid some unwanted social occasions over the last year or so, but a friend of mind has taken his Covid isolation to a new level.

The European initial public offering market has been difficult for months, but new listings are still being brought to market with little regard for whether investors want to buy them. Instead of trying to ram deals through to satisfy a pre-arranged timeline, banks should be advising their clients to delay listings that don’t work in these conditions.