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EU supervisors should not need Andrea Enria, chair of the European Banking Authority, to tell them that full transparency on Pillar 2 is beneficial for the capital markets. It should have been clear all along.

Babytree Group and Tongcheng-Elong Holdings hit the market with their Hong Kong IPOs at an unfortunate time and volatility forced both companies to take a knife to their fundraising targets. But their moves may pay off in the long-term.

Some Latin American DCM bankers think the year is over for new issuance, and several are indeed wishing it already were. Although much of what put the brakes on in Lat Am this year will continue to affect the market in 2019, bond bankers should find reasons to believe January will be better.

The vague equivalence arrangement laid out as a possible future relationship between the UK and EU on financial services is unsuitable for two jurisdictions with such interconnected markets, and it is in the best interests of both UK and European firms to push for a closer relationship.

A dollar benchmark from Rentenbank scored comfortably higher than a euro trade from the European Financial Stability Facility in the latest BondMarker results. That is in keeping with a few weeks where the dollar market has been far more resilient than a wobbly euro sector.

In this round-up, wealthy Chinese individual investors now have access to local government bonds, Russian and Chinese leaders in the financial industry are meeting to strengthen mutual market access, and northbound trading volume via Stock Connect reached Rmb8.77tn.

Well-known hedge fund manager says China reset coming, Bond Connect volumes down 15% in October and Singapore Exchange launches a set of China onshore bond indices.

The Belt and Road Initiative is still bankrolled by Chinese government spending, China and Singapore upgrade their trade agreement, and the Bank of England renews a currency swap line with China.

From June 2019 a large chunk of debt borrowed by banks from the EU periphery under the European Central Bank’s second Targeted Longer-Term Refinancing Operations (TLTRO II) will no longer be considered stable funding. Banks should refinance that debt in the market instead of hoping for another ECB handout.

Enjoy the small things in life, so the saying goes, and when you have a bit of money, those small, frivolous, things can go a long way.

Indonesia Asahan Aluminium’s recent $4bn bond, which pulled the country’s quasi-sovereign curve tighter, has given a much-needed boost to Indonesian issuers in the offshore market.

Despite commodity catastrophes and diplomatic discord, the Gulf is set to be one of the most promising regions for the syndicated loan market in coming years, with a number of projects in the pipeline and governments seeking to modernise their economies by diversifying their funding sources. Banks seeking long-term returns and future ancillary business should pay close attention.