Just like the global financial crisis, Australia is emerging from Covid-19 more strongly than the rest of the developed world.

Capital markets volumes show how well the industry has adapted since the coronavirus crisis began, but as economies emerge from lockdown, bankers and their clients need to look much further ahead.

Central bank intervention has delayed the deluge of insolvency that Covid-19 lockdowns will cause, but it can only plug the dike for so long.

Companies never want to sell equity at rock bottom prices, but bank lenders will often only relax covenants and hold off seizing assets if new capital comes in below them.

Banks have to prepare for crises; if investors won’t make companies do the same, should someone else?

Capital markets bankers and their clients are finding that a lot can be done from home; as lockdowns ease, travel will matter more than offices.

Amid the wild price swings and surging volumes in bond and equity markets that characterized the first phase of the pandemic, traders just about coped while working from home.