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Anis Lahlou is chief investment officer at Aperture Investors in London. He believes that asset managers must change the way they charge fees to their investors, by only charging them for market-beating performance.

The National Football League, the professional American football league in the US, has sold $1.7bn of private placements, according to market sources, to help steer the organisation through the coronavirus.

A prospective improvement in the European Central Bank’s deposit tiering facility mitigating the punitive impact of negative rates should be bad for covered bonds, 95% of which are negative-yielding. However, the unprecedented scale of reserves held on deposit with the central bank implies that many key investors will still be looking for anything that pays more than its deposit rate of minus 0.5%.

Ant Group revealed last week that it is planning a multi-billion-dollar dual listing in Hong Kong and Shanghai. The company is often referred to as a startup, but it will float at a valuation well above $100bn and has been in business for six years. What is the right term for a company like Ant? It is time for a new moniker.

In this round-up, China’s industrial profits jump for a second consecutive month, the securities regulator tweaks requirements around information disclosure by listed companies, and the Chinese finance minister says the country must continue to keep government debt risk at bay.

This week in Keeping Tabs: what’s next after the EU recovery deal, assuaging public anger, and the Lebanese economy.

In this round-up, China International Capital Corp plans to boost the size of its Shanghai IPO, the Hong Kong Monetary Authority plays down the impact of the national security law, and the People’s Bank of China revamps green criteria.

In this round-up, the already fraught relationship between the US and China faces fresh tests, as both countries continue announcing retaliatory measures against each other.

Surging redemptions and aggressive buying by the ECB — which is also offering issuers a cheaper funding alternative — mean a reduced supply outlook for the covered bond market and, therefore, ever tighter spreads. But higher yielding, safer alternative investments are on the horizon, meaning the asset class may soon lose its allure.

Agreement in the EU this week on a €750bn recovery fund should remind market participants of the UK’s newfound vulnerability.

The Covid-19 pandemic could forever change the way we as a society live and travel. Bankers may find it hardest to adjust to the new normal.

The International Finance Facility for Immunisation (IFFIm) was set up in 2006 to provide funding to Gavi, the Vaccine Alliance, itself a public/private sector partnership, to expedite the vaccination of children in the poorest countries against endemic infectious diseases. Doris Herrera-Pol, IFFIm board member and former director of global capital markets at the World Bank, spoke to GlobalCapital about the role the capital markets can play in the development and deployment of a Covid-19 vaccine.