Bond Outlook March 26th

The consequences of the credit squeeze have so many dimensions that we can appropriately speak of the end of an era, or of history in the unfolding.

Bond Outlook March 12th

This crisis is not just about illiquidity but also about insolvency and the fear that borrowers, including banks themselves, will not repay.

Bond Outlook March 5th

The disarray in US economic policy in both the contradictory appeals by Paulson and Bernanke regarding mortgage bail-outs, and by a constantly changing approach to the monoline problem.

Mitchells & Butlers crashes out of opco/propco deal

Leading UK pub and restaurant group Mitchells & Butlers has been forced to shelve a £4.5 billion real estate joint venture and has been plunged into turmoil following a disastrous series of hedges that cost £274 million.

Boost for Bahrain’s mortgage market

The Kingdom of Bahrain’s Real Estate Finance company (Reef) has secured $150 million in warehouse financing to bolster its local mortgage lending activities.

European CMBS forced to the brink

For those dependent on the European commercial mortgage-backed securities market for funding, the credit crunch has prompted a round of soul-searching.

First US CMBS deal just gets away

It took six weeks but 2008 finally got its first CMBS deal in mid-February, from Morgan Stanley and Bear Stearns, who sold a $1.2 billion transaction.

Germany: Mifid highlights size difference

Since launching in 2007, Chi-X, the pan-European multilateral trading facility run by Nomura’s Instinet, has made notable inroads into the market for trading German stocks, regularly trading more than 15% of the daily turnover of blue-chip companies such as BASF.

Portugal: A tale of big and small

When global events blew across the stock market, it sent Portugal’s smaller companies scurrying back into their shells just as they were being tempted out.

Japan embraces e-trading

Perhaps unsurprisingly, given the Japanese reputation for electronic gadgetry, Japanese institutional equity investors are embracing electronic trading in a big way, according to a survey by Greenwich Associates.

Market forecasts: Buying times for equities

Corporate earnings forecasts might still need to fall but the near 20% collapse in global equity markets since their 2007 peaks suggests that the worst might already be almost fully priced in.

Indian stock market: From NPLs to IPL

The Indian stock market is in free fall, but on the sub-continent that story has had to take second billing to the forthcoming Indian Premier League 20/20 cricket tournament set to take place in April.

Debt threat to German real estate

Will the long-awaited recovery in the German real estate market be stopped in its tracks by turmoil in the debt markets? Louise Bowman reports.