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BondMarker voters embraced a 15 year effort in euros from the European Union this week, giving its benchmark the highest marks of deals priced in the week beginning February 26. The deal faced competition from a pair of prints by German issuers.
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The China Securities Regulatory Commission (CSRC) lifts restrictions on foreign investors seeking a majority stake in local securities firms, lawmakers consent to move to scrap the two-term presidential limit, and the Chinese commerce minister says the country will not fight a trade war with the US.
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The People’s Bank of China believes market appetite, instead of government policy, now drives the RMB’s level of usage offshore, three sovereign issuers line up Panda bond debuts, and China’s FX reserves shrink marginally after growing for the past 11 months.
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UK finance minister Philip Hammond finally laid out the country’s position on Brexit and financial services in full on Wednesday, in a speech greeted warmly by the City. However, it was in stark contrast to the position of some EU member states, notably France, that financial services cannot be included in a free trade agreement.
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Finance is a pretty sexy industry, as we all know. Who would ever question the attraction of making money? My mates and I certainly never have — but one friend got a bit more than he bargained for when he innocently called Singapore’s ministry of finance the other day.
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If the Norwegian bond market’s light touch approach to documentation means investors lose out, the Nordic aspiration to become the venue of choice for Northern Europe's high yield issuers may never materialise.
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A combination of economic reforms and economic turnaround has made Italy into one of the fastest growing equity success stories in Europe, something which will likely continue despite the increasing likelihood of an anti-EU government following Sunday’s election.
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China may be one of the world’s largest green bond markets, but its issuer base offshore has only seen limited growth. The market regulator may want to pick up cues from the development of its domestic green debt market to boost international issuance.
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In the new Clawback, columnist Philippe Espinasse analyses the impact of Hong Kong’s new rules around cornerstone investors in biotechnology companies.
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A €2bn reopening of a 2033 line by European Investment Bank proved popular with voters on BondMarker — closely followed by a 2048 print from Spain.
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Chinese lawmakers are gathering in Beijing for their annual conference, with premier Li Keqiang already announcing measures to further open up financial markets. China’s parliament is expected to consolidate regulations overseeing foreign investments, and analysts are anticipating announcements on who will take the helm at the People’s Bank of China after Zhou Xiaochuan.
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China sticks to a 6.5% growth target for 2018, Ministry of Commerce (MofCom) criticises a US proposal to impose tariffs on steel and aluminium imports, and the Shanghai and Shenzhen stock exchanges outline rules for Belt and Road bond issuers.