Regulation puts global banking in peril

Regulation puts global banking in peril

Don’t believe the G20 hype

Leveraged finance

Leveraged finance

The threat to corporate America

Failed ECB asset purchases plan has wrought 'malign impacts' for the market

Failed ECB asset purchases plan has wrought 'malign impacts' for the market

January 2015

The corporate bond market fears crowding out as quantitative easing looms.

  • Municipals: ripe for disruption?

    Want to see improvements to your town or city? Don’t just rely on municipal budgets. New crowdfunding sources are springing up. The disruptors even have municipal bond markets in their sights.

  • Leveraged finance: The threat to corporate America

    Multiples and lack of covenants in the leveraged finance market are firmly in the firing line of US regulators. Sponsors say they can handle the new rules. Banks are already looking for ways round them. But with regulators hell-bent on proving a point in 2015, what will happen when a leading US company struggles, or fails, to refinance a cov-lite loan?

  • US high-yield feels full force of oil price collapse

    Some parts of the US market are ‘carnage’; energy bond maturity wall is not due until after 2017.

  • Eskom woes to be confronted by task force

    South Africa’s irregular and failing electricity supply has become the target of a special task force as Eskom struggles to deliver enough electricity to power the economy.

  • Macaskill on markets: 50 ways to get your trade through

    Paul Simon sang that there are 50 ways to leave your lover, and Goldman Sachs has reminded us that there are just as many ways to sneak a trade through, even when conflicts of interest threaten to drag your reputation back into the mud.

  • Stock Connect dominates Asian equities at turn of year

    Stock Connect, dark liquidity, Japan's reflationary bid and Beijing's policy direction dominated the Asian equity landscape in 2014 and set the stage for 2015.

  • Petrobras shuts Brazil out of international markets

    Corruption scandal stymies bond issues; Lack of supply may set stage for others

  • Corporates face long shadow of Ukraine

    The crisis in Ukraine shows no sign of abating and its impact is being felt across the rest of emerging Europe. Phil Bennett, deputy head of the European Bank for Reconstruction and Development, explains why this is bad news for the region’s companies and what multilaterals can do to help.

  • Moscow Exchange: All revved up with no place to go

    Moscow’s revamped stock exchange has everything it takes to be a global player, with the exception of supply and demand. Has Russia’s isolation put a dampener on its ambitious domestic capital markets development programme?

  • Navigating Africa’s disparate markets

    Illiquid markets, limited exchanges and sometimes vague institutional information make Africa’s securities landscape difficult to navigate. Firms such as Imara are in a good place to act as guides.

  • Warsaw Stock Exchange: No place like home

    The WSE should pursue local opportunities, rather than chasing new listings from foreign firms.

  • Distressed debt: AQR unearths a further €136 billion NPLs in Europe

    Stress tests fail to address corporate lending; online platforms might have emerged too late.

  • LatAm: Rising rates will limit IPO activity

    Rising rates deter equity investors; Brazil no longer driving volumes.

  • China: Stock Connect through train steams ahead

    The eagerly awaited Stock Connect system connecting Hong Kong to the mainland is up and running to relief all round. While traditional long-only funds and southbound flows have lagged, market players foresee a new dawn in Chinese equity trading.

  • Angola sets sights on capital-markets reform

    The development of Angola's capital markets has been long promised but recent indications from the country's capital-markets commission suggests secondary public-debt trading could begin as early as next month. Nevertheless, it's unclear when the stock exchange will open its doors.

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