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.

Debt market round up: Bright withdraws HBOS claim

Claire Bright, former head of asset and liability management of HBOS Treasury Services, has withdrawn her £11 million ($21.8 million) claim of sex discrimination and wrongful dismissal against the UK bank.

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.

What was that about ceteris paribus?

“Global credit spreads are tight and will likely stay tight as long as our forecast for a global soft landing proves true and global liquidity doesn’t suddenly evaporate.”

For FICC’s sake!

This tongue-in-cheek reaction of one banker on hearing that Société Générale is the latest bank to create a fixed-income, currencies and commodities (FICC) division is understandable.

Interview: Daniel Bouton for NYSE/Euronext

Proponents of the merger between the New York Stock Exchange and Euronext believe it will enhance Paris’s position as a financial centre as the $14 billion deal promises to maintain independence.

ECM league tables

Including: ECM Convertible Bookrunners: Asia, EMEA, US | ECM IPO Bookrunners: Asia Pacific, EMEA, US | ECM Bookrunners: Asia Pacific, EMEA, US and Global

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

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.

Wiener Börse: The alternative AIM

Heinrich Schaller, joint CEO of the Wiener Börse, believes that he can challenge AIM for listings for western European companies with an eastern European focus.

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."

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.

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.

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.