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If “keeping one’s cards close to one’s chest” in negotiations while also acknowledging the need for market certainty seems like a peculiarly Brexit paradox, try managing the funding plans of a Gulf state as it tries to deal with a budget deficit.

The European Investment Bank will look to raise cash at 10 years on Wednesday, providing an important gauge on the health of an area of the curve that has been inhospitable so far in 2017.

After a glut of long-dated covered bonds in 2016, investors are scrambling to bring the duration of their portfolio down again, and that means five year covered bonds are likely to remain a firm favourite. More issuers should turn down the ECB's TLTRO, and try covered bonds instead.

The problems of fixed income trading are still a proxy for the fortunes of the whole investment banking industry. Fourth quarter results from the major US houses suggest the Street will have had a strong year in 2016, giving senior traders a new lease of life and a good payday, while 2017 could be just as good. But the industry’s problems aren’t going away.

The economic growth of the last five years is great for Romania, but is just the beginning, said Dacian Cioloş, Prime Minister of Romania, at an event in Bucharest organised by the Ministry of Public Finance and GlobalCapital. The country has to translate growth into development, to redress the inequalities between richer and poorer classes and regions. That means building a more productive, high value added economy, with investment in research and innovation; fighting corruption; improving governance at state companies; making the public administration more efficient; and stronger education and training. Above all, Romania must focus on generating prosperity for the younger generation.

Romania is in its best shape, economically, for a decade. With the budget deficit under control and employment growing, the prospects look bright, argued Anca Dragu, Minister of Public Finance, at an event in Bucharest organised by the ministry and GlobalCapital. The government is striving to make the public finances more transparent, with granular details of spending and revenue published online, and is trying to simplify taxation and cut red tape. Risks include Brexit, domestic demand outstripping supply and bottlenecks slowing down the process of reform and investment.

Europe must take the wake-up call of the UK referendum seriously, argued Germany’s Finance Minister, Wolfgang Schäuble, at a high level meeting in Bucharest organised by the Romanian Ministry of Public Finance and GlobalCapital.

Dasin Retail Trust has become the latest Chinese issuer to tap a Singapore listing, raising S$146m ($102m) in its IPO last week. While mainland-sponsored trusts have enjoyed relative fundraising success in the city-state, they have stuck to a tried and tested formula. Future issuers should break the mould.

GlobalCapital is preparing to decide its Equity Capital Markets Awards for 2016, and invites market participants to have their say on who should win them.

Welcome to Trump-week, as the president-elect makes final preparations before being sworn into office this Friday. Trump dominated weekend headlines by declaring that the long-standing One China policy is now up for negotiation. In the renminbi markets, meanwhile, the week is off to a slow start as the currency stabilises, and Chinese authorities discuss the future role of the Shanghai free trade zone.

In this round-up, RMB-denominated cross-border trade settlement suffers a big setback in 2016, turnover in the Chinese interbank foreign exchange (FX) markets revolves almost entirely around dollar trades, and GF International launches a China A-shares fund on the London Stock Exchange. Plus a recap of our coverage.

Rather than waiting for the final go-ahead from the authorities, European banks are becoming creative with their bonds in order to bring total loss-absorbing capacity (TLAC) issuance.