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  • Michael Spencer, founder chairman of derivatives broker Intercapital, and of gaming house City Index, should recognize good odds. He's prepared to offer them against the success of Liffe's much-touted euro swap contract, the Libor financed bond. "I bet 50-to-1 against the market trading 1,000 contracts a day on any single day before the end of this year," he tells Euromoney.
  • Three Turkish lira denominated Euromarket public issues made this year open a niche market for investors who want to play with Turkish treasury bills without exposing themselves to the risks commonly associated with this high-yield paper.
  • Balkan odyssey
  • This month sees the annual influx of capital markets luminaries to London for Euromoney's Global Borrowers and Investors Forum. Just across the English Channel, it also sees the kick-off of a minor sporting event: soccer's World Cup. Perish the thought that dedicated capital-markets players might regard attending the former as an opportunity to drop in on the odd game or two.
  • In a Euromoney virtual round table, James Rutter asks 10 borrowers - big and small - to predict the shape of the new market in euros, how they will handle their borrowing, who will they choose to handle their deals.
  • When the Asian crisis took hold the notion was that Malaysia was somehow different and could escape the worst effects. There's little room for such optimism now. How hard Malaysia lands may depend on Japanese recovery and the extent to which the government is willing to relax its fiercely nationalist economic policies. Nicholas Bradbury reports.
  • Shrugging off the stereotypes
  • In our review of Peter Spira's memoirs (Euromoney May, page 6) we failed to mention the title of the book. It is called Ladders and Snakes and you can buy it in London at Heywood Hill, Curzon Street and at Waterstones on Cheapside.
  • Brazil is still learning to live without inflation. Before the Plano Real, it could sustain a fiscal deficit through monetary expansion. Now it needs to boost exports and cut government borrowing. Marcelo Starec reports