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Asiamoney PLUS highlights the latest job changes from across the fixed income and financial markets.
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Gilles Planté has been appointed deputy CEO for international and institutional banking at ANZ after nearly two years leading the bank’s efforts in Asia Pacific.
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The US economy is recovering — but weakly. And that’s with Ben Bernanke, Janet Yellen and their buddies working 24/7 at the money pumps. Where’s all the money going? Mostly into share price rises. Growth in GDP, employment and even corporate earnings is lagging. For the real economy to catch up, the harsh wage repression of the past decade will have to end.
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The Ministry of Finance of the Islamic Republic of Pakistan has ended its 15 year break from the Asian syndicated loan market by launching a $100m fundraising. The sovereign’s re-entry into the capital markets is a clear sign that the Asian bank market has matured and is ready to take on challenging credits.
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—Scott O’Malia, commissioner of the U.S. Commodity Futures Trading Commission, speaking at the ninth annual Futures Industry Association conference in Singapore last Thursday on the CFTC’s failure to demonstrate any restraint in issuing regulation that has a direct effect on non-U.S. market participants.
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In this week’s round up of offshore renminbi news, China’s central bank clarifies plans for the Shanghai Free Trade Zone, London gets a clearing service, and the RMB overtakes the euro as a trade currency.
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Asiamoney PLUS highlights the latest job changes from across the fixed income and financial markets.
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Congratulations are due to the banks and companies involved in last week’s Granvia and Greater Gabbard project bonds. They are helping to bring new capital into infrastructure finance. But the art of structuring these deals is to shield investors from nearly all risk. The real spadework in project finance is still being done by banks.
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With France’s spreads over Germany grinding ever tighter, funding opportunities are ripe for French local authorities who can pay enough of a spread over the sovereign to attract funding at low yields. But with French fundamentals as they are, there is no telling how long this will last. Borrowers should come while they can.
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The Indian economy is finally showing signs of revival more than six months after news from the US of a tapering of quantitative easing battered the country’s markets. India’s current account deficit has reduced a lot, although fiscal developments seem bleak at best. But the country has built up its defences — which will help in its battle against future economic challenges.
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—Jeff Robins, partner at Cadwalader, Wickersham & Taft in New York, on recent guidance released by the U.S. Commodity Futures Trading Commission that expands the scope of the regulator’s crossborder reach. The guidance specifies that employees from non-U.S. firms based in the U.S. must comply with Dodd Frank, even if they are processing non-U.S. swaps.
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Bank Vontobel was planning to launch a customized version of its electronic structured products platform—deritrade—in Asia, with the aim of adding autocallable and equity-linked notes to its list of structured products in a bid to woo investors in the region.