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Sponsored Moody's Investors ServiceThe number of onshore corporate defaults in China during 2015 has already exceeded the total for last year. The recent trend has broken the myth of the “automatic bailout” in China’s onshore market which had led some investors to ignore credit fundamentals in the expectation that all debts would ultimately be underwritten by the state.
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To make trading algorithms useful for derivatives execution, measurement of their effectiveness must be carefully tailored to each user, writes Yuriy Shterk, head of derivatives product management at Fidessa.
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Turkish banks habitually follow wherever Akbank goes to their own advantage — but with longer dated financing they should follow for both their own good and that of the market.
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Germany’s jewel in the SSA crown, KfW, drew a gasp of horror on Tuesday when it set out to sell a seven year benchmark, but only limped to €2bn. That should ring alarm bells in the offices of every European public sector borrower.
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Greece’s imminent cash shortage might be grabbing most sovereign bond watchers’ attention, but the European Court of Justice has handed its creditors an extra bargaining chip in negotiations.
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The Singapore Exchange has been languishing this year, with no sizeable IPOs hitting the market. But things could be finally looking up, with Canada’s Manulife Financial Corp making headway with a real estate investment trust listing in the southeast Asian city-state. It’s time for issuers to prepare for a market revival.
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Far from being the bunch of cautious stay-at-homes one might expect, it turns out that loan bankers count among their ranks some of the most fearless thrill-seekers in the capital markets.
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When UK Chancellor George Osborne fired the starting gun on the re-privatisation of Royal Bank of Scotland on Wednesday, he signalled willingness to book a large loss on the deal.
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What’s a CEO worth? Based on the price action in Deutsche Bank on Monday, roughly $2.7bn. But how much can one man ever expect to change a business?
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I think the term sore loser was invented for bankers. We don’t like to lose and when it we do we presume it’s because the other guy (or girl) cheated.
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A flurry of borrowings by companies from Hong Kong and China has revitalised the sluggish syndicated loan deal flow in the region. Bankers expect more activity out of the area with a clearer view on the renminbi, bond investors’ skittishness on high yield and access to a diverse banking group luring borrowers to syndicated loans, writes Shruti Chaturvedi.
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The Reserve Bank of India (RBI) has unleashed its long-awaited proposed draft framework on offshore rupee bonds, known as Masala bonds. While the rules open the funding avenue up to corporates, most market participants have doubts about the practicality of the new asset class, write Christina Khouri and Rev Hui.