Bond Outlook January 31st

Is the future of the CHF linked to the JPY’s and possible unwinding of the carry trade? For those expecting curve steeping in Euroland, new CMSs are available.

Real estate: Is the UK already over-Reited?

The UK has been eagerly awaiting the introduction of tax-free real estate investment trusts for years, so when the legislation permitting them finally took effect at the start of 2007 nine of the UK’s largest property companies were ready to make the switch.

EEMEA market round up: Lasky joins RenCap

Leading Russian investment bank Renaissance Capital has added yet another banker to its already impressive staff, which has extensive investment banking experience in emerging European capital markets.

Is the banking boom sustainable?

Investment banks continued to ride high in 2006 on good fundamentals and the added boost of strong hedge fund and private equity activity, proprietary trading and continuing globalization.

DCM league tables

Including: Bonds - Global (ex Japan) MBS/ABS Bookrunners | HY debt: Asia Pacific, EMEA, US | IG debt: Asia Pacific, EMEA, US | $ DCM Bookrunners | € DCM Bookrunners | International DCM Bookrunners | Loans - EMEA sponsor-driven loans | Global IG loans | Global leveraged loans & highly leveraged loans | Mandated Arranger: Asia, EMEA, US, Global | Non-syndicated MTNs, Private MTNs

Banking league tables

Including: Asia Pacific (ex Japan), European, US, Global Announced M&A Project Finance - Sponsors, Financial Advisers, Loan Arrangers and Loan Providers

Bond Outlook January 10th

Over the last week the market has espoused the view that a decline in the Fed rate is unlikely even after a few months.

Wealth management: Why performance matters

Traditionally seen as great for service, but second best in investment performance, private banks have been polishing up their act, investing in research and third-party products to diversify portfolios and win back market share in asset management from other financial service providers.

Rothschild: Risk and reward

"We’ve reduced equity market exposure by 10% – from Asia, Europe and the UK – but still view equities as the best asset class."

Russian investment banks scrabble for a strategy

Western investment banks are competing to acquire Russian investment houses, while the chief executive of VTB, the country’s second-largest bank, is prioritizing either the acquisition of a local investment bank or the establishment of a partnership with an international player.

Dresdner: Bias and balance

Dresdner Bank’s EUR medium-risk portfolio is one of six risk profiles the bank runs for high-net-worth investors looking for a balanced portfolio and accepting exposure to global markets.

Kazakhstan: Investment banks mining a rich seam

What’s bad news for the hard-pressed bean counters at financial institutions across Europe trying to curb the exorbitant expenses claims of their equity capital market teams promises to be good news for AirAstana, the leading Kazakh airline that’s one of the candidates for a stock market listing in 2007.

VAT fears will not stall German growth

Strong business confidence, healthy demand for German products and an increasing share of income going to capital belie fears that Germany’s growth rate is under threat.

North America: US battle for rich pickings grows fiercer

The US private banking market is becoming increasingly competitive as domestic and foreign players battle it out for the country’s wealthiest clients, who are making increasingly complex demands that require more holistic approaches from banks.

Geopolitics: The Hegemon stumbles

Major errors of concept and execution in the Iraq war have weakened the US: a sharp lesson in the limits of what seemed like limitless power.

Russia: Ring fence on investment is breached

Amendments to banking legislation that will abolish the requirement for foreign investors to obtain permission from the central bank before buying equity in Russian banks passed their first reading in the Duma (parliament) at the end of November.

Asia: Is Japan still a tough nut to crack?

The expulsion of Citigroup Private Bank from Japan in 2004 was merely the most dramatic of a string of failures among foreign firms that have too often misread the attitudes of investors and regulators.

Europe: Will Europe burst asunder?

Europe’s economies are split in two: the surpluses of the centre and the north, versus the deficits of the UK, France, and the Mediterranean and accession countries.

The world on the cusp

Another record year for financial institutions suggests no end to the boom in global financial markets.

Vienna bourse sows the seeds of good neighbourliness

In spite of all the takeover talk among major global exchanges, and the heavy consolidation in eastern Europe’s banking sector, not everyone believes that acquisitions are the only way to expand business in the region.

PR awards

It is traditional around year-end for awards to be received for deeds performed during the previous 12 months.

ECB Watch: The future might look rosy but rate rises loom

Alongside the announcement that it was raising its key interest rates by 25 basis points last month, the European Central Bank released the latest set of growth and inflation forecasts prepared jointly by the staff of the ECB and the euro area national central banks.