Search results for

TradeWeb has proven itself to be the bellwether for institutional bond trading. But internal tensions are mounting as participating banks join competing foreign exchange platforms.

Contagion from US domestic corporate bond markets infected Latin American debt in the last months of the year, reversing earlier strong performance by Latin bonds that rallied on the improving credit fundamentals of Mexico and Brazil. It’s one of the downsides for Latin borrowers of having their foreign debt now predominantly owned by so-called crossover investors, not Latin specialists. These nervous buyers bring added volatility to a market where periodic panics, such as that recently surrounding Argentina, are a regular feature. They won’t even consider financing the region’s corporate borrowers, which must now hope domestic markets develop quickly. Danielle Robinson reports

The price of oil is at its highest level for nearly a decade. Since the end of the Gulf War in 1991, the per-barrel price of crude has traded below its historical average of around $20. And it’s no coincidence that during this time the global economy has enjoyed almost unparalleled prosperity. Low energy prices have allowed new-paradigm economists to declare inflation dead. It may be stirring in its grave. And while industrialized nations are less dependent on oil than in the past, it’s importance in transport is still enormous. No-one is sure where the oil price goes from here, nor what the consequences might be of a sustained price rise. Jonathan Brown reports

Best site for legal advice

Best site for cash equity settlement

Best bank for online equity

The unthinkable is happening in European covered bonds. German mortgage banks no longer sneer at any attempt to mimic their market and its proud history of never producing a default. New and sophisticated covered bond laws in France and Luxembourg have improved on the Pfandbrief model. Because of this, German banks are now scrambling to copy other issuers’ refinements. Lack of uniformity is still a problem. International investors must comb through the different laws and regulations that characterize distinct European covered bond markets. Perhaps one day a single European market will finally emerge. Anja Helk reports

Investors' memories are notoriously short but a 1,000% increase in the share price of Yukos, Russia's second largest oil company and its most notorious shareholder rights abuser, seems to denote nothing less than mass amnesia.

If you opened up the Financial Times on Thursday October 26 and turned to the people section, you might have read that Michael Buckley is chief executive designate set to replace Tom Mulcahy at the head of Allied Irish Bank when Mulcahy retires in June. Buckley has been running AIB's Polish operations. In September he told Euromoney about the increasing competition among foreign bank entrants and AIB's hopes to turn its Polish branches quickly to profitability.

Best site for new bond issues

The Turkish government is committed to banking consolidation, privatization and restructuring. It will also sell off the ailing banks it has taken under its wing. The country’s numerous banks are no longer able to live off interest payments from government debt. Metin Munir reports

Best site for convertible bonds