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Market bets on Boris breaking Brexit promise
With a Conservative majority in Parliament meaning the UK will almost certainly leave the EU in January, attention turns to the transition period —market participants expect prime minister Boris Johnson to break his pledge not to extend it. Meanwhile, the UK’s financial sector now knows it will become less aligned to the EU, and bankers on contingent contracts could be about to move across the Channel.
13 Dec 2019 -
China market round-up: CPI rises, November credit data surprises, China sets up oil and gas giant
In this round-up, surging pork price drove China’s consumer price index (CPI) up again, new loans growth beats market expectation and the Mainland has revealed plans to shake up the country’s natural gas market.
13 Dec 2019 -
Green QE or divestment? Market eyes ECB’s plans
Debt market specialists this week put forward contrasting views on the policies the European Central Bank might use to tackle climate change, after Christine Lagarde, its new president, said her strategic review of its mandate and operations would encompass how the bank should respond to it. She also promised action on stablecoins. Burhan Khadbai and Lewis McLellan report.
12 Dec 2019 -
Third student loan sale stalled as UK waits for election clouds to clear
A third instalment of the UK Department for Education’s current programme of student loan securitizations has stalled, a casualty of a tight general election and volatile politics. Concerns about whether securitization gives government good value for money are a potential obstacle, while investors will have to weigh up an instrument highly geared to the fate of the UK economy. Owen Sanderson and Tom Brown report.
10 Dec 2019 -
Indian NBFCs to look offshore in 2020
Indian non-banking financial companies will be forced to wean off from their reliance on the rupee bond market and tap international investors next year amid a liquidity crunch onshore. But with buyers becoming increasingly selective on the kinds of NBFCs they will buy, borrowers should be prepared to pay up.
10 Dec 2019 -
First Eagle to acquire CLO manager THL Credit Advisors
First Eagle Investment Management will acquire THL Credit Advisors, a credit investment and CLO management firm headquartered in Boston which has approximately $17bn in assets.
09 Dec 2019 -
The Taxonomy compromise: slower but fuller
The compromises made last week to reach political agreement on the European Union’s Taxonomy of Sustainable Economic Activities were beginning to become clearer, before the surprise rejection of the deal by France and some east European countries on Wednesday threw the issue up in the air again.
09 Dec 2019 -
The week in review: China’s exports contract, foreign ownership cap for life insurers lifted, import tariffs on US pork and soybeans to be waived
In this round-up, Chinese exports shrank in November while imports rose unexpectedly, the China Banking and Insurance Regulatory Commission (CBIRC) will lift foreign ownership caps on life insurance companies to 51%, and the Mainland will waive import tariffs on US soybeans and pork.
09 Dec 2019 -
China market and policy round-up: trade war jitters return, Huawei loses some domestic support, PBoC signs currency swap with Macau
In this round-up, conflicting trade war headlines confuse the market, Huawei sues the Federal Communication Commission amid public relations troubles at home and the People’s Bank of China (PBoC) signs a three year bilateral currency swap agreement with the Monetary Authority of Macao.
06 Dec 2019 -
Market readies for era of loose spending
A major push towards fiscal easing in Europe, which could be a key driver of capital markets in 2020, looks more likely after the junior partner in Germany's governing coalition elected leaders who are calling for more public investment. Government debt in some other EU countries is already at record levels while demographic changes could push it higher.
05 Dec 2019
