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The temptation of St David

It's not often you get a morality tale in the bond markets. But when an obscure line of postal bonds grabbed the attention of traders in London, the conflict of interest that haunts all investment banks came horribly alive. One man decided that his bank's relationship mattered more than short-term gain, and he gave his traders' profits back. Was this the action of a saint, or just good business sense? Steven Irvine reports.

January 01, 1997

Ziggybonds to Major Tom

Rock star David Bowie has thought of an ideal birthday present for himself. The singer, who went by the name of Ziggy Stardust in the 1970s, turns 50 this month and is considering a $50 million bond issue.

January 01, 1997

The Russians are here - at last

Tight-lipped Russian officials eventually warmed to their task at roadshows worldwide. It was Russia's return to the international capital markets, its first sovereign issue since Tsarist days. For the bankers involved in the $1 billion deal it must often have seemed like trying to resurrect the mammoth. Peter Lee reports on a complicated birth

January 01, 1997

A Hong Kong for eastern Europe?

Austrian equity visionaries remain optimistic that Vienna can yet become the market for trading in eastern European stocks. But it's likely to take more than the current reforms to lift a dismal equity performance. John McGrath reports.

January 01, 1997

Argentina: Partly to show we can do it

Argentina, for so long judged by so many to be on the verge of a devaluation, has taken its boldest move yet to prove the doubters wrong by issuing an international bond denominated in pesos: its first investment-grade issue.

January 01, 1997

Georgia: playing a careful game

Georgia is experiencing stability for the first time after five years of war and economic collapse. And with a team of young reformers in charge, the foundations exist for a period of sustained economic growth. By Selina Williams

January 01, 1997

Opinion

Low growth in 1997: buy bonds

Last September in this column, I argued that the industrial economies could be heading for much lower growth than expected in 1997. Now I'm even more convinced that OECD growth will fall short of consensus estimates, which means that central banks will not be raising short-term interest rates until late this year. This affects all investment decisions. It means that the yen will be strong, and the Deutschmark and dollar weak in 1997; bond yield curves will flatten.

January 01, 1997

Briefing encounters

Banks have become more sophisticated in the way they choose their law firms. But have they got it right yet? By Christopher Stoakes.

January 01, 1997

Santa comes to Poggibonsi

Banco de Poggibonsi e di Colle Pottine,

January 01, 1997

Mexico waits for the tequila sunrise

With foreign investment flowing in, Mexico should enjoy two years of economic growth. But can it sustain the recovery without another crash? By Jennifer Tierney

January 01, 1997

BANKING

Poll of Polls: Advisory

Poll of Polls: The rise of DMG

January 01, 1997

BANKING

Poll of Polls: Underwriting

Poll of Polls: The rise of DMG

January 01, 1997

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