Latest market news

• AT1 tax crackdown to spread to Denmark amid state aid fears

  

  Denmark is likely to become the next European member state to scrap its policy of allowing the interest payments on deeply subordinated capital instruments to be tax deductible. The move comes after the European Commission voiced its concern that the practice could constitute a breach of state aid rules.

  • 03:00 AM

• Second CMBS 2.0 default points to struggling UK retail sector

  

  A post-crisis CMBS loan tied to a UK retail property has defaulted, only the second CMBS 2.0 default seen to date, pointing to continued weakness in the retail sector.

  • 20 May 2019

• Former CSRC chairman under investigation

  

  Liu Shiyu, a former chairman of the China Securities and Regulatory Commission (CSRC), has turned himself in the nation’s corruption watchdog and is now under investigation, according to a statement late on Sunday.

  • 20 May 2019

• The week in renminbi: Wang Yi talks to US secretary of state, Huawei comforts employees, PBoC said to keep renminbi stable

  

  In this round up, China’s foreign minister talked to Mike Pompeo on Saturday, HiSilicon launched ‘extreme survival contingency plan’ and the Chinese central bank told reporters it would keep renminbi rate reasonable

  • 20 May 2019

• China market and policy round-up: more tariffs on the way, China and Singapore renew currency swap, April economic data disappoints

  

  In this round up, trade tension carried on intensifying as both sides rolled out more punitive moves, the People’s Bank of China and the Monetary Authority of Singapore signed a three year currency swap agreement and April’s industrial production and retail sales growth declined.

  • 17 May 2019

• Exchanges score win with CFTC speed bump ruling

  

  The US Commodity Futures Trading Commission has given a boost to derivatives exchanges that are introducing passive liquidity protection for some of their contracts.

  • 16 May 2019

• Resurgent CMBS market no help for latest Blackstone deal

  

  The European CMBS market has defied its ineligibility for the European Securities and Markets Authority's (ESMA) new ‘simple, transparent and standardised’ (STS) securitization framework intended to boost confidence in the market. The asset class that appeared dead and buried after the financial crisis has outpaced other asset classes in recent times. But the resurgence did not stop one deal this week from suffering heavy investor scrutiny, writes Tom Brown.

  • 16 May 2019

• Twenty-six China A-shares pass MSCI index review

  

  Index provider MSCI has confirmed, following this month's semi-annual review, that it will raise the inclusion factor of Chinese A-shares from 5% to 10%, effectively increasing the weight of A-shares in its MSCI Emerging Market Index from 0.72% to 1.46%.

  • 14 May 2019

• China market and policy round up: trade tension reaches new height, FX reserves dip, record high QFII quotas granted in April

  

  In this round up, China-US trade tension peaked with US president Donald Trump’s market-moving tweet, Chinese FX reserves dipped in April and the amount of Qualified Foreign Institutional Investors (QFII) quotas approved in April surpassed that of all of last year.

  • 10 May 2019

• New look RBNZ committee cuts rates to record low

  

  The Reserve Bank of New Zealand cut rates for the first time since 2016 to a record low of 1.5% on Wednesday. The RBNZ Monetary Policy Committee decision was the first under its new set-up, which included three external members on the committee.

  • 09 May 2019

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