
GlobalMarkets (formerly known as Emerging Markets) is the newspaper of record at the IMF/World Bank, European Bank for Reconstruction & Development (EBRD), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB) and Inter-American Development Bank (IADB) annual meetings. Click here for more information about GlobalMarkets.
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US trade hostility cracks post-war order: new system will be Asia-led
The current system of globalisation with the United States at its centre looks set to crumble and be replaced by a new global system anchored around China, leading economists have told GlobalMarkets
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‘Great moment of truth’ for EU as Brexit demands finance reforms
Leading ministers and financiers have told GlobalMarkets that the EU is likely to redouble efforts to reform its financial system, as member states brace for Brexit and try to protect themselves against a shift away from globalisation.
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Finance ministers grasp ‘growth story’ of climate action
Around 50 finance ministers gathered in Washington on October 19 to put into action measures to implement the six Helsinki Principles that they agreed on five months ago. They are set to issue a communique that will acknowledge that the world is in the grip of a climate emergency.
FEATURES and OPINION
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Towards a decarbonised future
The European Investment Bank has set out a strategy for lending that will support the EU’s goal of decarbonising the economy by financing investments that cut emissions, combat climate change and support alternatives to fossil fuels.
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Spearheading alignment with the Paris Agreement
With its push to embrace its role as the European Union’s climate bank, the European Investment Bank is set to play a key part in the alliance of multilateral development banks committed to fight climate change.
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Protecting the heart and lungs of the planet
One year after the launch of the Clean Oceans Initiative, the European Investment Bank wants to use its success in tackling plastic pollution as a springboard to safeguard the wider blue economy.
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The biggest boom will be the unavoidable one
Adapting to climate change is going to cost many trillions. Yet so far, only a trickle of money is being put towards it. What is causing this baffling blockage in financial markets, and how can it be unlocked?
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Waiting for Malpass to reveal his true colours
Six months into the job, David Malpass has had an easy ride. But life is about to get harder for the new World Bank chief as he goes into his first annual meetings
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The EIB should be Europe’s development hub — for now
European politicians may be tempted to make a show by founding a new development bank. That would be a mistake. Results are what matter, not branding. To supercharge development and climate finance, the EU should choose the simplest and fastest option
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Brazil back on the dancefloor
Top policymakers have vowed to mend and open up the economy of the Latin American giant. GlobalMarkets speaks to economy minister Paulo Guedes and central bank governor Robert Campos Neto
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Unlocking the global investor base for local EM bond markets
Jingdong Hua, the World Bank’s treasurer, has got a plan to get the world’s largest investors involved in local currency bonds markets
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No honeymoon for Georgieva as recession fears intensify
Kristalina Georgieva takes over the reins at the International Monetary Fund with high praise from her boss at the World Bank. But she arrives as the financial watchdog faces an array of risks including a deep global recession
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Banxico keeps eye on stability in face of structural shocks
Mexico’s central bank has finally taken a dovish turn to ease pressure on a languishing economy. Yet prudence in the face of structural changes continues to be the guiding light for Banxico, governor Alejandro Díaz de León tells GlobalMarkets
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Going gets tough for Europe’s capital markets union
The new European Commission has its work cut out if it wants to re-launch efforts to create a single market for capital in Europe. The easy wins were banked by the previous administration while Brexit complicates an already highly complex initiative
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Harnessing the financial markets to scale up humanitarian aid
There are justifiable fears around the humanitarian aid sector using the capital markets but if executed well it will allow charities and development agencies to bring in much more funding.
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Final Word: Mariana Mazzucato
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Final Word: Felipe Larraín
Finance ministers must take decisive action on climate change
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Final Word: Henrik Normann, Nordic Investment Bank
Sustainable finance is not just about green
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FINAL WORD: Günther Bräunig
International co-operation now more important than ever
DAILY PAPERS
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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Intesa Sanpaolo EUR750m 0.75% Dec 24 green
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Commerzbank EUR500m 0.5% Dec 26
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Islamic Development Bank EUR1bn 0.037% Dec 24
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Nykredit Realkredit EUR500m 0.25% Jan 23 non-preferred
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NN Bank EUR500m 0.375% Feb 25
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Caixa Geral de Depósitos EUR500m 1.25% Nov 24 non-preferred
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UK DMO GBP2.25bn Inflation linker Aug 41 tap
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Rentenbank EUR1bn 0% Nov 29
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Land NRW EUR1bn 0% Nov 29, EUR1.5bn 0.5% Nov 39, sustainable bond
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Kommuninvest USD1bn 1.625% Apr 23 green bond
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Arab Republic of Egypt USD500m 4.55% Nov 23, USD1bn 7.05% Jan 32, USD500m 8.15% Nov 59
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KfW EUR1bn FRN Nov 22
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EFSF EUR1.5bn 0.05% Oct 29 tap
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EAA EUR1bn 0% Nov 22
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BNG EUR750m 0.05% Nov 29 sustainability bond
All International Bonds
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 388.00 | 1833 | 8.38% |
| 2 | Citi | 356.39 | 1541 | 7.69% |
| 3 | BofA Securities | 307.61 | 1346 | 6.64% |
| 4 | Barclays | 275.03 | 1162 | 5.94% |
| 5 | HSBC | 227.14 | 1260 | 4.90% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | BNP Paribas | 58.46 | 248 | 8.14% |
| 2 | Credit Agricole CIB | 45.49 | 223 | 6.34% |
| 3 | JPMorgan | 36.09 | 110 | 5.03% |
| 4 | UniCredit | 32.87 | 177 | 4.58% |
| 5 | SG Corporate & Investment Banking | 32.46 | 161 | 4.52% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | Goldman Sachs | 13.45 | 68 | 8.33% |
| 2 | JPMorgan | 13.19 | 83 | 8.17% |
| 3 | Morgan Stanley | 12.21 | 55 | 7.57% |
| 4 | Citi | 10.11 | 72 | 6.26% |
| 5 | Credit Suisse | 6.93 | 38 | 4.29% |





