Despite falling yields on Greek government bonds and renewed interest from international investors, the dire economic outlook and inability to reduce its debt burden means Greece is years away from being able to issue sovereign debt, according to analysts.

Russia’s largely https://dat.euromoneydigital.com/authoring/journalist?article=047ac601-56d9-4410-8935-dd211e6a899a#tab10state-owned banking sector needs greater competition to help catalyze private sector investment as the economy enters a new era of permanently weaker growth and lower oil prices, say analysts.

All issuers should be looking beyond the US dollar when seeking new financing. Alternative currencies can bring several advantages, including lower funding costs and greater flexibility.

Regulation of the global repo market is inching closer – particularly in the US – but is hindered by a lack of consensus on how to proceed internationally, as well as the oft-touted concerns about the impact on credit flows to the real economy.

Basel III, Dodd-Frank and market pressures are forcing banks to bolster their tier 1 and loss-absorbing capital levels on their balance sheets, a process that is under way but far from complete. There are few palatable options on the capital-raising menu.

Middle East businesses are borrowing more as the long-term nature of the burgeoning bond markets brings a greater sense of comfort. They must reveal all in the public documents needed to access those markets, initially an uncomfortable experience for many. But the better financing mix is worth it.

European pension funds and insurance companies face years of diminished returns because of artificially low yields on long-dated debt. Investors should consider strategies now so that they can mitigate losses when yields start to rise again.

Mergers and acquisitions have undergone a paradigm shift as far as some are concerned, with bond issuance fast becoming the default funding source, but others say bank lending can still give debt a run for the money.

Three years on from the infamous flash crash of 2010, there is relief for some that speed limits do not feature in new European rules on high-frequency trading, but others now see a gap in the market for a slow lane.

Companies across the globe are increasing their use of so-called “cloud solutions” for handling payments. Europe leads the way, driven by the need to meet upcoming changes to regulation, but many are now embracing the benefits to secure a broader competitive advantage. Etienne Bernard, Head of Transaction Services, EMEA at RBS, says the opportunities are limited only by companies’ aspirations.

Record low yields in emerging market local currency debt is fuelling concern among some investors over a bubble, but analysts and asset managers insist the growth picture and slow inflation in many core EM economies justify increased allocations.

Companies are turning to bonds to fund their acquisitions as part of unprecedented change in financing across Europe.

European and Basel forbearance on trade finance regulations will reduce, at the margin, borrowing costs for the larger corporates but for SMEs the challenge of accessing capital will remain undiminished until the banking sector is re-capitalized. Meanwhile, creative financing solutions are afoot.

Republicans and Democrats seem to be inching towards to a deal that would raise the United States’ debt ceiling and avoid a damaging government shutdown – or even a sovereign default – a senior Republican strategist has told RBS.

For some, citing weak growth and fiscal cuts, there is seemingly no end in sight to quantitative easing in the United States, while others argue rates can no longer decouple from improving economic fundamentals. The Fed has sent mixed messages about its monetary policy course, heaping on allocation risks.

Emerging Asian economies concerned over the impact of capital inflows from Japan, thanks to the latest bout of quantitative easing, are breathing a collective sigh of relief: the expected tsunami has failed to materialize to-date, an apparent boost to Asian price, FX and financial stability.

Technology that joins up every stage of a trade and brings together a wealth of data will one day help businesses make fast financing decisions and borrow cash the moment they need it.

China has been inching towards full currency convertibility – and perhaps reserve currency status for the renminbi – with a number of developments that amount to an acceleration in its trade liberalisation programme. FX swap lines are largely symbolic but yield practical benefits in liquidity crises.

Emerging market sovereign bonds are overvalued by an average 5 per cent and are due a correction as US monetary easing nears its end. Emerging European debt looks most at risk of a sell-off, RBS analysis shows.

Harmonised payments across Europe will not meet the goal of launching by February 2014, because some countries are taking advantage of a two-year extension to the deadline for adopting agreed standards. Businesses still need to adapt to a single system for processing payments across Europe, and they will initially handle data in different ways from country to country.

Just months into Japanese prime minister Shinzo Abe’s master plan to end deflation and kick-start the economy, the jury is out on whether he can succeed.

UK companies will likely be able to trade with China more freely under a proposed currency swap agreement between the countries’ central banks. John McCormick, Chairman of RBS Group Asia Pacific, says the first renminbi bilateral swap line between China and a G7 country could be the largest yet at about CNY450 billion.

The bail-in imposed on depositors of banks in Cyprus in March was a new paradigm in resolution mechanisms, and has raised concern among European corporates that money in the bank is no longer a sure bet.

Declines in the value of the currencies of commodities-producing countries might signal the beginning of the end of the commodities super cycle, analysts say, but equally they could represent a shift in patterns of investment flows.

The plethora of complex and sometimes overlapping bank ring-fencing schemes being pursued around the world is creating uncertainty in the industry and apprehension among its detractors.

Punting on the sustainable growth rate of emerging Asian economies in the coming decades - a development that will profoundly reshape the global economic order - is a trillion-dollar wager.

China is keen to control the expansion of its foreign exchange reserves, but faces headwinds arising from the twin problems of its export-led economic model and policy in respect of the yuan.

New liquidity rules could increase the cost of cash management and dent returns on corporate deposits. As a result, companies will require more sophisticated working relationships with their core banks, says Steve Everett, Global Head of Cash Management at RBS.

The blame for Cyprus’ economic crisis lies squarely with the island’s previous administration for acting too slowly, exaggerating the problems and shifting blame to the banking sector, a former Cyprus Central Bank governor has told RBS.

The United States risks importing uncontrolled inflation through its deliberate efforts to weaken the dollar. ‘Currency wars’ expert James Rickards says such scenario ultimately threatens the global monetary system.