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BANKING

Bond Outlook June 14th

There is a lot underused capacity in the world and inflation at consumer level is moderate. Why then are central bankers acting in concert to dry up liquidity?

June 14, 2006

CAPITAL MARKETS

Bridport Outlook- Romancing the ruble

May 10th saw President Putin announce his wish for a fully convertible RUB on July 1st 2006 and in doing so pre-maturely capped a series of positive regulatory changes concerning Russia’s capital account. The liberalisation will impact various sections of the economy, and we see the domestic RUB bond market as the area most likely affected.

June 12, 2006

CAPITAL MARKETS

Bond Outlook June 7th

Amongst the current risk aversion, short-term opportunities may be arising in Brazil and Turkey, while emerging Asia may follow Russia’s lead in liberalisation of currency and financial markets.

June 07, 2006

Opinion

7th June: Paulson & Goldman politics

“Ask not what your country can do for you – ask what you can do for your country,” thundered John F Kennedy in his inaugural address. Hundreds of column inches have been devoted to former Goldman Sachs chairman and chief executive Hank Paulson’s nomination as US Treasury secretary. Hank will not be pleased by this largesse of newsprint.

Abigail Hofman, June 07, 2006

Iceland Flash

Yesterday (a national holiday in Iceland) Standard & Poor's revised its outlook for the Republic of Iceland to negative from stable. According to the rating service the revision reflects the growing possibility of a hard landing for the countries credit and investment boom as economic imbalances start to unwind. At the same time S&P affirmed its long term AA- foreign and AA+ local and its short term A-1+ foreign and local currency sovereign credit ratings on the republic.

June 06, 2006

BANKING

Roundtable: Making forex go further

Few industries can claim to have seen as much growth as hedge funds can. The development of the hedge fund industry has led to a greater reliance on prime brokerage capabilities, and in the FX world, this is no different. Alternatives brings together people from both sides of the business to look at developments in FX, and to ask what impact FX has on hedge funds.

June 06, 2006

BANKING

Regulators To Monitor Brokerages' Trade Internalization

This article appears courtesy of DailyII.com Money Management Letter

June 06, 2006

Saudi Arabia: Sacking of CMA chief fails to revive Saudi market

Hiring and firing securities markets regulators on the basis of stock index performance is not a particularly credible policy. But that’s what the Saudi authorities did last month, sacking the chairman of the Capital Markets Authority, Jammaz Al-Suhaimi, a modernizer and reformer unfairly demonized on stock speculators’ bulletin boards across the kingdom as somehow being responsible for the crash of an overvalued market.

Peter Lee, June 01, 2006

CAPITAL MARKETS

Borrower's view: Borrowing globally to buy homes in Mexico

As more and more Mexicans are encouraged to buy their own homes, the companies that provide mortgages will increasingly look to the international capital markets to fund their lending. Armando Guzman, director general of mortgage provider Metrofinanciera, talks to Lawrence White about his expansive borrowing strategy and his hopes for the development of mortgage-backed securitizations.

Lawrence White, June 01, 2006

CAPITAL MARKETS

Recruitment: Bankers swarm to Russian IPO honey pot

Russian firms seek investor-friendly foreign talent; investor-friendly foreign talent seek large bonuses.

Lawrence White, June 01, 2006

CAPITAL MARKETS

Asia market round-up: What the market gives…

Wondering why everyone in global capital markets is thinking China these days? Look no further than PricewaterhouseCoopers’ Greater China IPO Watch. According to the accountants, the average deal size from the Greater China region (including mainland China, Hong Kong and Taiwan) was $260 million in 2005, an increase of more than 200%. For the first time, it exceeded that of the US ($170 million) and Europe ($100 million).

Chris Leahy, June 01, 2006

CAPITAL MARKETS

Covered bonds: Run takes wind out of cédulas’ plain sailing

If a product swamps a market, prices go down. Yet this basic economic tenet seems to have eluded many of the issuers in the Spanish covered bonds market. How else to explain the consistent lack of coordination in issuance endemic in the world of the cédulas?

Alex Chambers, June 01, 2006

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