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Gordon Houseman moves firm four years after becoming partner
Changing one of IB bosses shows what Deutsche values
Executive has worked for the bank since 1998
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Analysis of CLO trading by JP Morgan’s fixed income research team concluded that, through the selloff in the fourth quarter last year and the rally this year, loan trading by CLO managers beat the market, with the vehicles successfully buying low and selling high compared to broader movements — and compared to waiting out the volatility entirely. -
Former Bank of China syndicate head Sebastian Ha has joined SPDB International as its head of fixed income.
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Of all the parts of the EU Sustainable Finance Action Plan, the Taxonomy is closest to the heart of the green bond market.
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Centre right members of the European Parliament have balked at approving a proposal to change the EU’s Taxonomy of Sustainable Economic Activities so it highlights unsustainable activities. Jon Hay reports.
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Lease accounting changes known as IFRS 16 are rolling out through capital markets, with companies keen to reassure investors that, despite the new way of presenting their balance sheets, little has changed. But that’s not true for every firm and for some high yield issuers, the change represents a big loosening in covenant terms.
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Second lien loan structures are substituting in for unsecured high yield issues, as a strong bid from direct lending funds pushes prices for the product tighter. Despite wariness from many banks about the product, Goldman Sachs has been seen actively competing with private debt funds to offer second lien finance, adding to the product’s advantages for sponsors.
