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MTNs drift on market uncertainty

Issuance is down in the medium-term note market. September's terrorist attacks have left the market nursing its wounds. Fears about liquidity and concerns about widening spreads have persuaded many issuers and investors to stay away.

November 01, 2001

Opinion

Putting the flesh back into fund management: Live flesh show

Michael Dobson should have an interesting time turning around Schroders.

November 01, 2001

An attractive product in the shop window

"Why do car companies sell different models?" posits a banker. "They hope that by diversifying what they sell they'll capture a bigger audience and reduce their overall cost of funding." And so it is with the new French issue linked to the eurozone price index. "This is another product range in the shop window," he adds.

November 01, 2001

Jim Trott, Strategic and commercial manager for treasury services, Reuters

Author: Philip Eade

November 01, 2001

Mexico: Hit hard by US slump

On his recent state visit to the US, Mexican president Vicente Fox bathed in the warm glow of Mexico's new friendship with its northern neighbour. George W Bush tried out his Spanish and everyone else agreed that ever-closer economic ties between the two nations were the new future for Mexican economic growth.

November 01, 2001

Private-lending arm looks set for a tune-up

The International Finance Corporation, the World Bank's affiliate for private-sector investment, could be ripe for an infusion of new capital, as World Bank president James Wolfensohn recently signalled (Euromoney, September 2001). There's just one catch. Key players among the 186 member governments that are the IFC's current shareholders - the G7 in particular - have been in no mood to contribute new funds.

November 01, 2001

Russia: A touch too bullish on the bear?

Bankers are selling hard the story of Russia’s return to the Eurobond market with City of Moscow’s latest foray. Yet investors need to be cautious given the republic’s recent debt history. The queue of credible issuers is far from endless and likely to be trimmed by the Russian government as it prepares for its own refinancing in 2002.

November 01, 2001

BANKING

Cash management poll 2001: Full results

November 01, 2001

Bringing it all back home

By netting more of their transactions internally, the world’s largest banks are transforming customer relationships and process capability into competitiveness and profits. They may take business from exchanges and clearers and it is possible that they are embarking on a course that could reshape Europe’s securities trading infrastructure.

November 01, 2001

Correction

In the September issue of Euromoney incorrect total country risk scores were given for Brazil, Colombia, Peru, Jordan, Bolivia, and Zambia. The respective subtotals for these countries are correct.

November 01, 2001

Russia: Gas float that’s not for foreigners

Itera began life as little more than a bill collector for Gazprom, Russia's state-owned gas monopoly. Many think its real purpose was simply to siphon cash out of Gazprom and into management's pockets. Now Itera plans to float on the German stock exchange. Will investors be tempted? Probably not, but that is not the point of the IPO.

November 01, 2001

BANKING

Shifting the blame for a grim outlook

The mind-set created by the myth of a recession-proof new economy proved a disastrous preparation for the sudden sharp downturn in the world economy. Rattled US corporates have been blaming their poor figures on the American terrorist atrocities. Admittedly certain sectors have been hard hit, but none of them had been in rude health before. Nonetheless the outrages will now be a catalyst for further economic deterioration.

November 01, 2001

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