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Let them drink champagne

Hôtel du Front Populaire (ci-devant Crillon), 10 Place de la Révolution (ci-devant Concorde), 75008 Paris, France.

January 01, 1996

Pfandbriefe market: Can a jumbo give birth to a baby?

Optimists believe the new market in jumbo Pfandbriefe could become sophisticated, liquid and efficient enough to be regarded as a kind of baby Bund. Pessimists think overcoming image problems in the eyes of international investors will prove too difficult. Philip Moore reports.

January 01, 1996

Japan back on track

After five years of prolonged slump, 1996 may be the year when things in Japan get moving again.

January 01, 1996

Egypt: Reviving an old institution

Like many old bourses in emerging markets, the one in Cairo creaks a bit. Transforming it into a smooth-running, well-oiled machine will require changing attitudes as well as systems. But the need to attract foreign and domestic money to the corporate sector will probably ensure it comes right in the end. Nigel Ash reports.

January 01, 1996

Central Europe: the markets move on

No fast track but getting there. The success of central Europe's emergence depends on the region's ability to maintain coherent, long-term economic and social reforms. But the past five years have produced a mixed bag of results, as Jules Stewart reports.

Jules Stewart, January 01, 1996

Japan: A game of catch-up

After a disastrous few years, Japanese securities houses have begun to rediscover how to make money in international business. They are cutting costs, building up proprietary trading operations and taking advantage of the demand from Japanese retail investors for foreign bonds. But can they ever catch up with their US and European rivals? Garry Evans reports.

January 01, 1996

Market Monitor

Maastrickery, NYSE raps Nomura, Equity placements, EIB's yen handout, Switzerland's test of strength

January 01, 1996

Emerging Markets

A sleight of hand, USExim cans the Kazakhs, Shrinking the discount, The battle for Asia, The communist spectre, Jezek fathers more reform

January 01, 1996

Australia: The party's over for Australian banks

Despite record profits, Australian banks face difficulties in the year ahead. Albert Smith looks at how the four major banks are positioned to handle a radical shake-up of the banking industry.

January 01, 1996

Portfolio theory: The human factor

Computers can do a lot to process today's explosion of information in financial markets - but they're only a tool. The ultimate processor and user of the information is man. Man is the subject and the object of financial analysis. Markets are a theatre of human behaviour. More and more quantitative analysts are redirecting their study of markets to the study of man. David Shirreff reports.

January 01, 1996

Russia: Sitting out the Russian winter

Russian banks and brokers face a bleak winter. Equity business generated from buying and selling privatization vouchers has dried up, and Russian companies - in urgent need of capital - will not be ready to access the international capital markets for another two to three years. Peter Lee looks at brokers' efforts to bolster the value of Russian company shares and to keep the foreign investors biting.

January 01, 1996

Slipping through the net

Netting makes bankers' eyes glaze over. But close-out netting can make them money. By Christopher Stoakes.

January 01, 1996

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