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Asian debt bankers are closely watching a leadership transition in China, hoping that the next generation of leaders will announce new stimulus measures. But it is Europe’s problems, not China’s solutions, that will determine the growth of Asia’s bond markets for years to come.
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Loans are all about relationships. AAR is taking a tough route by testing lenders to see if it gets on better with banks than the Russian state does.
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Over a third of the Indonesian HY market is now rated ‘B2’ and below, due to downgrades over a lack of funding. This could lead to refinancing issues as there is no market in Asia for such low-rated debt.
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The state’s financial regulator is seeking agreements with four Southeast Asian nations to bolster its banks’ investment reach – and potentially their renminbi businesses.
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—Dermot Turing, partner at Clifford Chance in London, on proposed changes to how U.K. client assets are held by non-bank clearing houses.
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Niraj Gudka, coo of global equities at UBS, resigned and seven officials were suspended as a result of the trading scandal in September 2011.
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New Delhi and the Reserve Bank of India are considering adapting India’s laws to allow Islamic finance, a development that could allow local companies to issue Islamic bonds offshore.
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Ivan Chan, managing director and head of the Swiss bank’s Asia FX sales left on September 28, with Eng Chien Chan being appointed to take the vacant role.
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Investors can almost ignore the country’s credits because they are fully valued when compared to the rest of the Asian credit universe, believes Morgan Stanley.
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South Korea’s first global corporate hybrid is stirring hopes that more cash-stretched companies will get similar opportunities, but tight bank liquidity and risk aversion may only make this possible for A-rated issuers.
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Asiamoney PLUS highlights the latest job changes from across the fixed income and financial markets.