Upgrade will have limited impact; Argentine YPF coup is troubling move

The Abigail with attitude column hosted one of its quarterly round-table dinners this month. Several of the UK’s most senior bankers mingled with a media mogul and some veteran continental financiers. A few points linger in my mind. First, there was a general anxiety about the potential for significant social disruption in Europe as austerity programmes bite and youth unemployment spirals ever higher. Secondly, some senior bankers are still in denial about the reasons why they are deeply disliked. "It’s all the fault of the press," one banker moaned. "They are stirring up the people and the politicians against us." Media mogul responded firmly. "No," he said. "The people are angry because billions of taxpayers’ money was spent to bail out the banks. Ordinary people’s standard of living has gone down: taxes are up, inflation is up, wages are stagnant yet bank bosses continue to earn millions. Bankers need to justify their role and worth to society." I know whose side I am on in this debate. What do you think?

Bank ‘taking long-term view’; Asia seen as key driver of profits

It is good to see the Bull charging back. In late April, Bank of America Merrill Lynch announced that it had hired Alex Wilmot-Sitwell from UBS as its new president of Europe and the emerging markets ex Asia. For those of you who have short memories, UBS hired one of Merrill’s top bankers, Andrea Orcel, merely a month ago to be co-head of the investment bank. Since then, Orcel has persuaded several other senior Merrill bankers to join him at UBS: Javier Oficialdegui, Javier Martinez-Piqueras and Emilio Greco.

Deal part of liability management exercise; Pemex pioneers LatAm Aussie dollar market

Ennahda government hit by new protests; Qatar lends $500 million via bond issuance

HSBC launch demonstrates UK appeal; Deal criticized as PR exercise

Inclusion might trigger $8.8 billion inflows; Becomes first sub-Saharan entry

Some are calling him ‘bloated Bob’. Others prefer the prefix ‘bountiful’. I would suggest the adjectives ‘baffling’ and ‘burnished’.

Central and eastern European governments have exploited the flattering contrast between their headline debt numbers and those of western Europe to achieve ever lower funding costs. But there is still much work to be done to ensure the sustainability of debt levels.

Government promises fiscal consolidation; Recapitalization of NLB looms

With a socialist at the gates of the Élysée Palace and the eurozone limping along, there has never been a better time to buy cheap European equities.

Of course, there is another big IPO coming to a screen near you shortly. I am talking about the phenomenal Facebook deal, which is veiled under a hefty shroud of secrecy but which seems to be scheduled for the launch pad in mid-May. I wonder if that will mark the peak of the equity market this year? Morgan Stanley is the lead underwriter for this fiercely contended deal.

BTG Pactual’s IPO offered lessons to other Brazilian issuers about pricing discipline, and to other partnership banks about ownership structures.

As banks returned to the primary bond markets and their stocks rallied through the first quarter of 2012. Michel Barnier, European commissioner for internal markets and services, felt sufficiently confident to move ahead with the design of bail-in procedures for writing down bank debt in the event of imminent failure.

Figures from Dealogic suggest that bankers covering EEMEA should not get carried away with the realities of the Middle East and Africa.

Banks’ misgivings about the Jobs Act reflect their own failure to cater to the full spectrum of US enterprise.

Chinese broker’s Hong Kong listing fails to revitalize the market.

There needs to be universal agreement on what is shadow banking to tackle its regulation.

Banks enjoyed a good end to the first quarter in equity capital markets, but the benign conditions that prompted deals might have come to an end.

Media coverage of the staff in JPMorgan’s chief investment office turned up nuggets that ranged from the banal (credit derivatives trader Bruno Iksil has a penchant for wearing black jeans) to the comical (London head Achilles Macris had a picture of a missile on his apartment wall, in brave defiance of stereotypical assumptions about dealers).

Bank becomes Brazil’s 16th-largest company; Problems persist with smaller deals

Trading volumes and expense cuts help; Eurozone concerns still loom over growth

Last-minute Blackstone bid fails; Senior lenders to take control

The crowd is taking over from traditional sources of finance and it is here to stay. It’s the start of the big bank disintermediation. Unless banks join the revolution, consumer lending may no longer be their sole domain.

Loan volumes at 15-year lows; New credit intermediation needed

Investor sentiment is changing: investors are examining individual stocks and sectors with the greatest potential for growth rather than specific countries. Research houses that focus on the continent are finding their services are in demand.

Russian companies had a strong showing in Euromoney’s 2012 survey of best-managed companies in central and eastern Europe, and the big winners offer an insight into two different routes to success.