Capital markets: Courting disaster

How do you explain the credit crunch to those outside financial circles? One banker recently told Euromoney that investment banks used to be dating agencies for capital markets:

Mexico set to relaunch Farac II

Mexico’s transport and communications ministry, the SCT, is expecting soon to relaunch its second federal highway re-concessions programme, Paquete del Pacífico, known as Farac II.

Bond Outlook April 1st

The G20 look a divided group, but at least they are coalescing on issues of expanded regulation.

Banks raise earnings expectations

Last month executives of the world’s largest banks, alarmed at collapsing share prices, told everyone what a profitable start to 2009 they had enjoyed.

Lazard sticks with its own advice

With the business models of many of the largest financial firms destroyed by rapid deleveraging, it suddenly looks smart to be a purveyor of independent advice.

Bond Outlook March 25th

There may be no alternative to printing dollars and buying toxic assets, but beware future inflation and further dollar weakness.

Bond Outlook March 11th

Bond markets, both primary and secondary, are taking a further step towards fulfilling role of credit suppliers as banks abdicate this task.

Qatar: Dubai dropped for Doha

As gas exports from Qatar provide the country with a buffer from the Middle East’s financial crisis, investors are expected to favour Doha over troubled Dubai.

Banks stick with Brazil

Despite their mounting woes, several US and European banks claim that they remain committed to Latin America, especially Brazil, according to their regional heads, although some are paring down their presence.

Banking: IFC launches new recap fund

The International Finance Corporation has teamed up with Japan Bank for International Cooperation to launch a new recapitalization fund for struggling private-sector banks in the emerging markets.

ING and the Dutch government pass taxpayers the bill

ING has always protested that its portfolio of alt-A residential mortgage-backed securities was of much better underlying quality than many of the sub-prime deals that imploded at the start of this credit downturn in 2007.

Banking: Restraint pays off for Portugal

The relatively conservative approaches of the financial system and banks’ customers seem to be helping the nation deal relatively well with the financial crisis and recession.

Bond Outlook March 4th

While hope of a “bend in the L” for summer looks forlorn, we still see chinks of light in darkness: China\s stimulus, corporate bond issues and the US anti-foreclosure programme.

Should taxpayers own the good banks?

While many investors in bank stocks and bonds might have been hoping for a more comprehensive bailout plan from US Treasury secretary Timothy Geithner, others will be pleased with his feeble announcement.

Politicians miss the point on regulation

A risk manager at a large European bank now being propped up by its government after losing billions explains how the bank’s executives used to think about regulation.