June 2011

Top stories

EU debt markets: Will the bank bail-in make bond investors bail out?

EU debt markets: Will the bank bail-in make bond investors bail out?

The primary debt markets in Europe seem to have come to terms with the threat of a peripheral sovereign debt restructuring. But proposed regulation that will require bondholders to be bailed in when banks fail might be the last straw for some buyers in the FIG market. Louise Bowman reports.

Debt market commentary and debt survey results 2011

Debt market commentary and debt survey results 2011

Debt market commentary and debt survey results 2011

Read Euromoney's coverage of the

EU debt markets:
Will the bank bail-in make bond investors bail out?
High-yield dominates corporate market

CEE debt markets:
Debt markets embrace CEE borrowers
Gazprom proves CEE investors’ favourite

Latin American debt markets:
Latin America bond markets set new landmarks
Brazil still top LatAm sovereign but supply likely to dry up
Brazil's IFRS reform aids Energesia perpetual hybrid

North American debt markets:
Record high-yield issuance drives US debt boom
US policy pushes investors to rethink

Best borrowers:
EIB's focus on investor relations pays off
Spanish Treasury reports shift in investor attitudes
A triumph for transparency

Also: View results from the Primary debt survey and the Fixed income investors survey, incorporating Fixed income research and Best borrowers.

Asia Pacific

Voracious investors grow picky amid CNH supply glut

As the volume of Chinese renminbi bonds issued in Hong Kong soars, previously starved investors are becoming fussier. While debt bankers talk up the market in public, in private the rush of synthetic, high-yield and even unrated deals worries some. Lawrence White reports.

Banking

Banking: Litigation could seriously damage banks’ health

Banking: Litigation could seriously damage banks’ health

The costs of fighting legal battles at Countrywide increased 70% from 2005 to 2006, an early warning sign of the horrors to come. As litigation mounts, banks’ expenditure to fight charges still attracts too little attention. Greater transparency could be one key to reform. Helen Avery reports.

Asset management

Western Europe

Banks tell Portugal to get its house in order

Local firms are finding their own difficulties with funding and credit exacerbated by national crises in growth, inflation and a fiscal deficit. Can they get out of this vicious circle? Nick Kochan reports from Lisbon.

Microfinance

Asia: Politics pulls down the microfinance pioneer

The forced removal of Grameen Bank founder Muhammad Yunus as head of the lender casts a shadow over an institution that has flourished in Bangladesh and spread its message around the world. Elliot Wilson reports.

Turkey

Cash management

Cash management: Finance for an urban future

Cash management: Finance for an urban future

Rapid urbanization puts pressure on infrastructure. It also raises opportunities for banks to develop a range of electronic payment systems to improve city-dwellers’ lives. Laurence Neville reports.

Banking news

Markets news

Asia news

Latin America news

EEMEA news

Market leaders

Columns

Inside investment: Glencore IPO – Déjà vu all over again?

Three months before the start of the credit crunch in 2007 this column predicted that the IPO of Blackstone Group marked the “endgame for private equity”. With Glencore listing in London there might be good reasons to call time on the commodities bubble.

Editorial: New ideas for managing a Greek default

Plenty of schemes are being floated for how Greece might secure relief from an unsustainable debt approaching 165% of GDP and likely, before long, to require an annual interest payment equivalent to 10% of GDP, mainly to foreign creditors. Costas Meghir, professor of economics at University College London, described this as an “annual blood-letting”, in a debate at the LSE last month with Herakles Polemarchakis, an economic adviser to the prime minister of Greece, and Nicos Christodoulakis, former Greek minister of finance and economy.

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