Euromoney January 1997
The IFC's Minati Misra is not prone to giving the dealers on her MTN programme an easy time. With a reputation as one of the market's most sophisticated borrowers, she is far from passive. Steven Irvine spent two days by her desk in Washington listening as she charmed and cajoled her intermediaries.
Euromoney January 1997
It's not often you get a morality tale in the bond markets. But when an obscure line of postal bonds grabbed the attention of traders in London, the conflict of interest that haunts all investment banks came horribly alive. One man decided that his bank's relationship mattered more than short-term gain, and he gave his traders' profits back. Was this the action of a saint, or just good business sense? Steven Irvine reports.
Euromoney January 1997
By March 1998 Europe's biggest futures exchanges will launch the first contracts to be settled in euros. Only the fittest will survive. London, Paris and Frankfurt are locked in combat to win the greatest prizes of all those dominant futures contracts in short-term and medium-term interest rates.
David Shirreff reports
Euromoney January 1997
Tight-lipped Russian officials eventually warmed to their task at roadshows worldwide. It was Russia's return to the international capital markets, its first sovereign issue since Tsarist days. For the bankers involved in the $1 billion deal it must often have seemed like trying to resurrect the mammoth. Peter Lee reports on a complicated birth
Euromoney January 1997
The Russian equity market came of age in 1996. Prices doubled and the range of investors broadened to include some of the world's largest institutional investors. Will the boom continue in 1997? Peter Lee reports.
Euromoney January 1997
The House of Rothschild doesn't look as solid as it used to. In a world of supermarket banks, the days of the corner shop may be numbered even if it has the best name in the business. But Rothschild is fighting the trends with a major reorganization. Brian Caplen analyzes the plan and looks at the vexed issue of succession
Euromoney January 1997
Japan's public-sector institutions have the luxury of borrowing with a guarantee from their government. But they waste the opportunity, paying as much as 10 basis points more than they should for funds. The reason: lack of professionalism and bureaucratic meddling. Garry Evans reports.
Euromoney January 1997
The near-collapse of Agrobanka, the Czech Republic's fifth-ranked bank, has highlighted the aggressive activities of investment companies such as Pavel Tykac's Motoinvest. Philip Eade reports on the elements of the crisis and the chances that lessons have been learnt from it
Euromoney January 1997
Austrian equity visionaries remain optimistic that Vienna can yet become the market for trading in eastern European stocks. But it's likely to take more than the current reforms to lift a dismal equity performance. John McGrath reports.
Euromoney January 1997
The Spanish government is expected to open at least two new markets this year to provide the fixed-income sector with greater depth and liquidity. Jules Stewart reports on the interest generated as the treasury casts off its cumbersome traditional approach to borrowing.
Euromoney January 1997
The jumbo Pfandbrief was designed to attract international investors to what had been largely a domestic German debt instrument. Until recently, though, it was being marketed as if Germans were the target. Non-Germans want clearer pricing information, conventional credit ratings and more warning of upcoming issues. Some issuers are responding, not least because the Pfandbrief looks like being Germany's main contender in European debt markets when a single currency is instituted. Antony Currie reports.
Euromoney January 1997
Deutsche Morgan Grenfell makes waves in the 1996 poll of polls with a strong performance in underwriting, trading and advisory work. Other names to note for 1997 include the newly formed Chase, the highest climber, as well as ABN Amro and Nomura Securities, all of which move confidently up the ranking. By Rebecca Dobson.
