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Commerzbank Corporates & Markets examines the benefits of leasing in corporate finance

After surpassing several milestones in 2015, the covered bond market should be set for another record-breaking year in 2016. Bill Thornhill talks to Société Générale CIB’s head of covered bond origination, Ralf Grossmann, and the bank’s senior covered bond research analyst, Cristina Costa, about their predictions and recommendations for the forthcoming year.

Europe gains traction on domestic demand: we like risky assets and see limited euro downside

Commerzbank Corporates and Markets reviews European IPO activity

Since the 2008 financial crisis, for a number of years subdued activity in IPOs was believed to be the norm on Italian exchanges. Yet since 2014, political and economic trends are changing the script — prompting a boom in Italian IPO activity, according to Stefania Godoli, global head of equity capital markets at UniCredit.

Commerzbank Corporates & Markets outline the current attraction of the High Yield Bond Market

The growth of corporate issuance in the green bond market is a compelling trend in modern capital markets. While this growth will continue, market entrants must pay heed to the market’s unique demands, say Antonio Keglevich, head of green bond origination, and Robert Vielhaber, green bond analyst at UniCredit

Last week we highlighted the positive performance of the mining sector with the Euromoney Global Mining Index returning +8.55% in October. Certainly not a bad start to the fourth quarter. Platinum producer Lonmin, who has been in the Euromoney Global Mining Index since 1985, topped the companies’ performance league table. That could be a bit misleading.

Commerzbank Corporates & Markets examines the international attractions of Germany’s private placement solution

The Euro corporate hybrid bond market has evolved exceptionally well since 2013, reaching a total market size of circa €85bn as of today, having become a well accepted, fairly standardised source of funding for many corporates. Featuring debt and equity characteristics alike, hybrids offer accounting, rating as well as tax benefits and create economic value for issuers. For investors, hybrids offer a welcome opportunity to diversify their investment portfolio and increase average return, but inherent risk should be eyed carefully.

For the OTC derivatives industry, joining forces is the only way to prepare for a rising tide of regulation. Only a combined industry initiative can drive the transformation in fluidity that will be needed when new regulations place collateral at the centre of every OTC derivatives trade. Unprecedented regulation is leading to unprecedented collaboration.

The Euromoney Smaller European Companies Index Series currently comprises 1350 companies across 16 European countries.

The Euromoney EMIX Europe Index currently comprises 637 companies across 16 European countries, including the largest 350 stocks and the most liquid 35% of the smaller company universe.

How collateral’s rise will profoundly impact markets

The number of onshore corporate defaults in China during 2015 has already exceeded the total for last year. The recent trend has broken the myth of the “automatic bailout” in China’s onshore market which had led some investors to ignore credit fundamentals in the expectation that all debts would ultimately be underwritten by the state.