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Rates buyers are moving back into Portuguese government bonds as yields fall, growth returns and exports boom. The country finished the capital markets part of its 2014 funding programme in the first two weeks of the year and now looks forward to a possible clean exit from the bailout, which would have been unthinkable six months ago. That would be a political triumph for Portugal and the Troika. But it might be a step too far.

Some have dubbed Antony Jenkins' reign at Barclays a work in transition. To me, it is undoubtedly a mess in transition.

In attempting to curb the excesses of the leveraged lending market, regulators might end up pushing it into the arms of the very private equity sponsors they are trying to rein in.

The peso’s plunge precipitating the emerging markets sell-off is bang in line with Argentina’s lowest-scoring economic risk indicator and is a home-grown problem linked to an incoherent economic plan and poor communication.

The prospect of progress in Azerbaijan’s equity markets throws into sharp relief the recent lack of it in those of its Caspian neighbour Kazakhstan.

Peso and exchange reserves have taken a tumble, interest rates have spiked and the money supply has tripled, yet analysts remain confident the economy is fundamentally sound. Can president Kirchner get full control, or will she leave it to the next government?

Pravin Gordhan says that he has given a counter-cyclical boost to South Africa and built up its underlying growth potential. But with capital flowing out, what more can the finance minister do to cut the country’s twin deficits?

Sells London markets business; Africa build-out continues

Demographics are the forgotten dimension of investment. The experience of Japan suggests we should pay more heed.

The fundamental dislocation of the region’s equity markets may actually drive DCM issuance in the coming year as a much-stalled pipeline of equity deals turns to M&A in frustration – and DCM deals will be printed to finance this predicted wave.

By coincidence, also in February, Euromoney hosted its annual awards dinner for the private banking industry and Tom Kalaris, Barclays’ former head of wealth management, sat at the top table. Kalaris resigned from Barclays last June. I have always liked Tom and will watch with interest how his career progresses. The compere for the dinner was Alastair Campbell, director of communications from 1997 to 2003 for prime minister Tony Blair. Campbell offered one key nugget of advice to the group of assembled financiers: "In order to win the public relations battle, you have to convince public opinion that banks and bankers provide a real service that individuals and the economy need." Obviously, Campbell is correct, but is anyone listening in the banks’ luxurious executive suites?

The data is misleading, say analysts; the region’s markets are fundamentally fine. Institutional investors are sticking around, but local companies are finding that they need a convincing story to attract international money.