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Loan market participants proved that whatever the circumstances — Brexit, US elections, European elections, Ed Balls being kicked out of Strictly Come Dancing — they remain a cordial and friendly band.
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Chinese and Hong Kong authorities have finally agreed on a December 5 launch date for the Shenzhen-Hong Kong Stock Connect — just over two years after the launch of the Shanghai Connect. Here is GlobalRMB’s lowdown on what you need to know about the upcoming initiative.
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In this Monday round-up, Shenzhen gets connected, the RMB stabilises and China capital outflows in the spotlight.
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In this round-up, the People’s Bank of China (PBoC) sets the dollar-renminbi fix at a new record low, a new policy push for the Shanghai free trade zone (FTZ), and the China Securities Regulatory Commission appoints two new RMB qualified foreign institutional investors (RQFII). Plus, a recap of our coverage this week.
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In the spirit of Thanksgiving, I met with an old pal down at the American Bar this week for some mulled wine and holiday cheer.
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The seven-page standard for the new issue bond market, published on Friday by the FICC Market Standards Board (FMSB), won’t have caused too many sleepless nights for syndicate managers. But it’s an ambitious project that has only just begun. The market should step up and support it.
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Banca Monte dei Paschi di Siena’s debt-for-equity swap is the bank resolution and recovery directive (BRRD) working in practice. Bondholders have no escape.
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That the Canadian finance minister has had to explain that the UK is behind the US, European Union and China in line for trade talks is not only bad news for the UK economy and the politicians in charge of it. It also highlights how 'post-truth' politics — or, in common parlance, lying — is set to play havoc with issuers’ funding plans.
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Syndicated loans bankers in Asia had braced themselves for a rough 2016, hurt by clients’ preference for cheaper, local currency options. But as the year wraps up, adversity has pushed loans houses to innovate by finding opportunities outside their comfort zones and tapping into new sources of liquidity.
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If the Schuldschein market were to go on a package summer holiday, the Ranger knows who would get all the best seats around the swimming pool.
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GlobalRMB has launched a new Monday round-up, featuring key market and regulatory developments from the weekend. This edition includes: mixed RMB FX performance, unexpected delay to the Shenzhen Connect, and Luxembourg looking to join the Belt and Road Initiative.
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The Schuldschein market is finishing its busiest year ever with the foot on the gas, with more than 20 deals in the market at once. Investor demand is not expected to dip as a result of the scrum, but some deals may not see brimming levels of oversubscription, according to bankers.