Market News - All articles

  • China market round-up: GDP growth hits record low, CPI inflation rises, credit data surprises on the upside

    In this round-up, China’s third-quarter GDP growth fell to 6%, September’s CPI inflation jumped due to continued surge in pork price and money and credit growth both exceeded market expectations

    • 18 Oct 2019
  • Bankruptcy experts foresee unprecedented defaults ahead

    The next economic downturn will be much more severe than the last financial crisis because firms have twice as much outstanding debt as they did in 2008, said a leading academic this week.

    • 17 Oct 2019
  • Libor end in doubt as market players highlight litigation risk

    Libor may be extended beyond the cut-off date of 2021, sources told GlobalCapital this week, as the market braces for litigation over more than $1tr of Libor-linked mortgages. Tom Brown reports.

    • 17 Oct 2019
  • LSE defines new green bond class, consults on transition bonds

    The London Stock Exchange has created a new class of sustainability-themed debt security, through looking at the totality of an issuer’s revenue, and is consulting on creating a segment for transition bonds. It has also designed a label for green equity issuers.

    • 14 Oct 2019
  • China market round-up: NBA steps into turmoil, Chinese FX reserves fall, UBS becomes GDR conversion institution

    In this round-up, Mainland Chinese partners cut ties with the National Basketball Association (NBA) after disagreements surrounding the Hong Kong protests, China’s foreign currency reserves fell in September and UBS has received the green light to trade global depositary receipts through the Shanghai-London Stock Connect.

    • 11 Oct 2019
  • Sebi unveils new guidelines for depository receipts

    India’s securities regulator has published a detailed framework for the issuance of depository receipts (DRs), potentially giving the country's companies greater access to foreign capital.

    • 11 Oct 2019
  • LSE brands its motley herd green

    What do cardboard boxes, plastic pipes and genetically improved pigs have in common?

    • 11 Oct 2019
  • Prepare for local currency bounce with our machine learning, says rates veteran

    Vinit Sahni, co-founder of fintech start-up Arkera and a former senior rates banker, says that his company will help bond buyers take advantage of, what he believes will be, an upturn in local currency bonds ahead of the US election.

    • 10 Oct 2019
  • European Commission approves Greek ‘Hercules’ NPL securitization scheme

    The European Commission has approved Greek plans to set up a scheme called Hercules to enable the country’s banks to cut their non-performing loan (NPL) exposures.

    • 10 Oct 2019
  • Rates desks seek CLO tranches for spare parts

    Rates trading desks are seeking owners of triple-A European CLO tranches, because of the value of the embedded Euribor floors, which convert negative Euribor prints to 0%. These can be stripped out and sold to the market, monetising a feature of the bonds that has become sharply more valuable as euro interest rates have plunged this summer.

    • 10 Oct 2019
  • Slow but steady: loan market takes steps to new reference rate

    As Asia’s bond market sees the first issuance linked to the secured overnight financing rate (Sofr) this week, eyes have turned to how loan market participants are preparing for the move away from Libor. While discussions within banks and with borrowers are taking place, progress has been slow, writes Pan Yue.

    • 10 Oct 2019
  • MSCI to add Star market stocks into China indices

    Stocks listed on Shanghai’s new Star market could soon be included in MSCI’s index if they meet requirements, the index provider said on Wednesday.

    • 10 Oct 2019
  • Tradeweb bolsters up corporate bond portfolio trading

    Tradeweb, the US-listed electronic financial marketplace operator, has expanded its ability to trade corporate bond portfolios, hoping to improve access to liquidity for clients.

    • 08 Oct 2019
  • Nivaura hires ex-HSBC syndicate manager

    Nivaura, the fintech firm seeking to digitise primary markets using blockchain technology, has hired a former managing director from HSBC syndicate.

    • 08 Oct 2019
  • Serra: bank equities insulated from ECB APP bubble

    Davide Serra, founder and chief executive of Algebris Investments, presented a bullish case for financials on Tuesday, on the basis that their equity prices have been less manipulated by central bank asset purchase programmes than institutions in other sectors. But he thought that the European Central Bank (ECB) will end up buying banks’ senior unsecured bonds.

    • 08 Oct 2019
  • EU ministers mull three ways to solve 'fragmentation' of EIB and EBRD

    EU finance ministers have been presented with three options for how to realign the European Investment Bank and European Bank for Reconstruction and Development. This could lead to the emergence of a new capital markets issuer.

    • 08 Oct 2019
  • Chinese regulator pushes better Star Market research

    The Securities Association of China (SAC) has told onshore securities houses to improve the quality of their research reports on Star Market companies. The move may help securities houses better price IPOs on the bourse, said bankers.

    • 08 Oct 2019
  • HKEX scraps £32bn LSE takeover bid

    Hong Kong Stock Exchanges and Clearing has dropped its plan to acquire the London Stock Exchange Group (LSEG), shelving the £31.6bn bid that would have created a powerhouse among financial marketplaces.

    • 08 Oct 2019
  • Odey’s UK equity shorts suffer a bad month

    Hedge funds have been accused of backing UK prime minister Boris Johnson in order to profit from a no-deal Brexit through short positions. But the shorts that Crispin Odey’s fund has outstanding in UK companies look to have failed to deliver over the past month, with share prices of companies rising.

    • 04 Oct 2019
  • Study: Painful ‘haircuts’ lead to lower debt

    Crisis-hit countries that go through a painful debt restructuring programme as part of a bailout enjoy much steeper cuts in their medium-term debt, according to an independent analysis of International Monetary Fund rescue programmes.

    • 03 Oct 2019