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Non-investment grade bond issuance soared during January as investors sought out bang for their bucks. The equity markets had a quieter beginning to the year but the future looks promising. Anita Davis and Clare Hammond report -
Turkish bank borrowers are again causing controversy in the loan market. But despite some lenders’ vociferous protests, Turkish banks’ march to sub-100bp pricing seems unstoppable.
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Korea Housing Finance Corp has come under fire for pressing ahead with a covered bond before the country’s new domestic framework is in place. But fears that it will damage investor appetite for other Korean deals are overblown.
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Letting central banks run monetary policy seemed a great idea in the 1990s. But it manifestly failed to end boom and bust. Now everyone shouts at central banks to solve the economy’s problems. Who should decide what they do? Only elected governments can, and it should be their responsibility.
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The Libor scandal has taught the banking industry that mainstream perceptions of behavioural risk are utterly flawed. A new approach to supervision is needed, and fast.
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The G20 will meet at the end of the week and most likely they will discuss currency wars. But weakening currencies may be a good thing
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—Courtney Smith, portfolio manager at Global Arena Macro Fund, at the Asia Forex Forum in Singapore, on a market shift toward vanilla options strategies.
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The number of bullish investors in emerging markets remains sizeable, but the bullish bias is weakening, a poll by Societe Generale shows
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As Chinese high yield bonds sell off, Indonesian supply remains supported and the pipeline will continue to be met with strong international demand, particularly from the US.
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Top 3 Offshore RMB DCM Transactions - Last 12-month rolling
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The international outlook towards Indian sovereign debt is growing ever more positive due to high levels of carry, rate cut expectations and subsiding fears that the country will be downgraded.
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Inflation in India is still high, while the slowdown in growth is due to structural factors that a cut in interest rates would not solve, the IMF said
