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◆ Oil trumps politics ◆ Kuwait scores late winner ◆ How to save Thames Water harmlessly
New prime minister and surprise chancellor jolted the Gilt market, but oil shooting above $100 shows where the real power lies
John Healey resigned because the money was not there for defence. It may not be there for anything
'Dead quiet' few weeks will benefit issuers as excess bonds need absorption before issuance starts to ‘fire on all cylinders’ from August 17
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Germany’s constitutional court has referred several questions to the European Court of Justice over whether the Public Sector Purchase Programme (PSPP) is compatible with European Union rules prohibiting monetary financing by central banks. As was proved with Germany’s challenge of the European Central Bank’s Outright Monetary Transactions (OMT), there is again likely to be little effect from the move — and in any case, Germany’s judiciary should learn that at times of crisis, central banks should be left to wave their magic wands.
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Jamaica has announced initial price thoughts on taps of its existing 6.75% 2028s and 7.875% 2045s as it looks to raise new cash to buy back existing bonds.
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Angola’s ministry of finance has been given approval to issue up to $2bn of Eurobonds this year though concerns about the country’s rising debt servicing costs led S&P to downgrade it to B- on Friday.
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September is fast approaching, bringing with it one of the most hotly anticipated European Central Bank (ECB) meetings ever, but the central bank will do its utmost to avoid causing drama, say investors.
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Peruvian power generator Cerro del Aguila attracted more than $3bn of orders for its inaugural Eurobond on Wednesday.
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Jamaica could return to the dollar market as early as next week following the launch of a cash tender offer for four of the borrower’s outstanding bonds.