April 2014
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LATEST ARTICLES
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Slowing economies presage lower bank finance need; investor appetite for non-dollar foreign-currency issuance still strong.
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Deal priced at bottom of range; Alibaba finally chooses New York over HK
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Suppressed valuations of companies in stock indices across Latin American are keeping IPO candidates at bay and the prospects for fresh issuances are remote, according to equity bankers.
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Russia’s adventures in Ukraine are adversely affecting its international issuance. And at home they will stifle ambitions to develop an international financial centre.
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Strong demand for Hungary, Azerbaijan; new corporate names to follow.
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Makes statement with 100-year sterling bond; more splash than a perp, says issuing official.
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Markets responded positively to the downgrade of Brazil by Standard & Poor’s. On March 25, the day after the announcement from the rating agency, the Ibovespa climbed and the real gained on the dollar.
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"If this evolves into a refined global framework that clarifies home-host responsibilities and supports cross-border trust, that is an important development. That would help support the global effort to end too-big-to fail. If this encourages the global community to develop thoughtful, consistent architecture in this area, this could end up being a positive outcome overall"
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According to a new international poll, money is the most uncomfortable topic of conversation for high-net-worth individuals.
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The decision by Mike Cavanagh, co-CEO of investment banking at JPMorgan, to move to private equity firm Carlyle should not be viewed as a surprise. Cavanagh has taken himself out of the running for the role of successor to JPMorgan group CEO Jamie Dimon in order to make a late entry in the stakes to follow Carlyle founders David Rubenstein and Bill Conway.
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The previously expansionist bank needs to take a more modest, consolidating stance.
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Most have followed their clients’ businesses abroad. Now it’s time for them to learn the lesson of Alibaba’s listing in New York and become true international finance players.
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Muni market concern spreads to Chicago; Distressed buyers pile into Puerto Rico
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From telecoms to financials to agriculture, more than 700 of Africa’s most established leaders gathered together this March for a three-day forum to build and reinforce regional ties, promote public-private sector partnership and discuss investment opportunities – all in the name of creating a supportive environment for economic and business development on the continent.
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How hard will an emerging market portfolio get hit? Differentiation, not blind love, will tell.
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Foreign banks are facing up to the implications of new rules in the US requiring them to hold capital onshore. But subsidiarization is set to become a global phenomenon. Bankers argue they will be hamstrung by trapped liquidity and capital. Customers might lose out as well. What are the true costs of ensuring national safety in a global banking system?
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Overwhelming demand for a string of bank AT1 deals shows the extent of investors’ desperation for yield as much as their faith in the restored health of the banking sector. As more new investors accept these deals, hopes grow that a €150 billion AT1 market might emerge quickly now. But terms have tightened far and fast and AT1 can be volatile.
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Equity listings now exit of choice; LBOs squeezed out by trade buyers, IPOs
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Smaller buyers will have to be smart to beat the private equity giants in Europe’s great banking assets sell-off.
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It was the poster bank for a new Mongolia full of opportunity. But Golomt Bank’s reputation has mined unexpected depths over allegations of hidden defaults, lawsuits with leading financial institutions and a sudden parting of the ways with a globally respected CEO. Now a new group of executives is launching a fightback.
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The crisis in Crimea should give the west pause for thought in its relations with eastern European states and with Russia.
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The president of the Federal Reserve Bank of Dallas, Richard Fisher, has compared the effect of quantitative easing on investors to “beer goggles”.
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The region’s businesses are being held back by weak transport links, while markets are underdeveloped because of lack of infrastructure. Will Asean’s economic fusion in 2015 give southeast Asia the injection of funds it so desperately needs?
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Banks have benefited handsomely from investors’ desperate search for yield as volatility in emerging markets and rates sends money flowing into European credit.
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The IPO market appears to be picking up, yet overall investment banking activity in the kingdom remains subdued, especially for international players. Despite that, the market’s potential means most will stick around.
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Two banking upstarts are resetting the relationships the Chinese have with their boring old state lenders by being convenient and readily understood. Even better, they pay great rates. But the incumbents aren’t taking this new threat lying down.
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The mortgage market in Saudi Arabia is about to get a lot better for consumers and a lot more competitive for banks. Since late last year the central bank, the Saudi Arabian Monetary Authority (Sama), has been issuing home-finance licences to banks and non-bank institutions, the latest stage in a long-running effort to implement a mortgage law.
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For investors, the continent is not the high-debt, high-distress place it was a decade ago. It has come a long way in a short time. Now it is 54 countries that are generally fast growing and with single-digit inflation.