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Never mind the fact that Italian banks are unable to fund themselves economically. If a few can demonstrate access to the Obbligazioni Bancarie Garantite market, the European Central Bank’s impending third targeted long term refinancing operation (TLTRO) might look less like a bailout.

Libor is likely on the way out for sterling loans in 2021, and it is almost impossible to overestimate the deluge of facility amendments headed towards loans desks. But there is worse to come.

Ivanka Trump, a US businesswoman better known as the daughter of US president Donald Trump, is set to help out in the search for a new World Bank president. While she is probably the least qualified person ever to have assisted in the process of appointing such an important position, the tempering influence she may have on her father’s disdain for multilateralism could be a blessing — at least the best we can hope for in these politically insane times.

Half of the Covered Bond Mark is derived from a survey of market participants. The other half is calculated using a range of key metrics — such as the deal’s subscription ratio, its performance, the granularity of the order book, and the transaction’s size.

The US government shutdown hit 24 days on Monday, a record kerfuffle for the country. As primary equity markets teams, most importantly at the Securities and Exchange Commission, run on skeleton crews, the IPO pipeline could come under some threat.

Sub-one year dollar bonds from Chinese issuers are back, but this time they are being used strategically to get reasonable pricing during tough times. Rather than condemn this tenor, it is time to view these notes for what they are — practical and providing flexibility.

IPOs worldwide have been derailed by geopolitical developments — except, it seems, in Hong Kong. Clawback columnist Philippe Espinasse investigates.

In this round-up, the renminbi reached its strongest value against the dollar since July, December exports and imports volumes dropped, and trade volumes between China and Russia reached a record high.

The poll is open for GlobalCapital’s Equity Capital Markets Awards for 2018 and we invite market participants to have their say on the best performers of last year.

In this round-up, US-China extended the previously planned two-day trade talk to a third day, Li Keqiang met Tesla’s Elon Musk, and the state council rolled out lower tax rates for small and low profit businesses.

In this round-up, China’s foreign exchange reserves rebounded slightly for the second month in a row, Standard Chartered’s index for international RMB usage fell again, and China's consumer price index (CPI) inflation decelerated at the close of 2018.

Italian banks are paying up for funding, both a cause and effect of financial stress in the country. It shows why the European Central Bank is likely to continue with TLTRO (targeted longer-term refinancing operations), and why the Italian government has less leverage over Europe than meets the eye.