Squeezing every last drop
When the luck of the Irish ran out...
Investors remain under-allocated to emerging market debt, despite emerging countries growing more rapidly – and, in many cases, boasting healthier balance sheets – than developed economies, panellists say.
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Restrictions on bank proprietary trading have caused liquidity to fall in both the cash and derivatives markets, forcing buy-side participants to adopt alternative investment strategies
Buy-side market participants are expecting increased operational costs when new regulation on central clearing of CDS contracts is implemented
A $650 million bond from Indonesian telco Indosat, issued last month, was a record 16 times oversubscribed. What was it about the deal that attracted investors in such numbers?
Investors are complaining that documentation for high yield bond deals has become increasingly opaque and poorly structured, making it difficult to gauge the level of risk. Will the glut of high yield supply that is set to hit the market over the coming…
Nomura chief economist Richard Koo warns the US and European economies face double-dip recession and a prolonged period of economic stagnation if stimulus is cut too soon.
Economic reforms in China have gathered pace in recent years. But the country’s bond markets remain hampered by significant structural problems, including state-administered interest rates and a murky legal system subject to government interference.
US-led efforts to rebalance the global economy are in danger of foundering on Europe’s fiscal retrenchment drive. The result, warn economists, may be a global bond trap, whereby surplus liquidity is channelled into safe government debt, freezing…
An increasing number of European companies are moving their operations abroad to avoid punitive bankruptcy regimes, leaving bondholders at a disadvantage.
Market participants have warned an increasing number of European high yield bond offerings are accompanied by unclear – even misleading – documentation.
Investors in Chinese corporate bonds may struggle to recover their money in the event of a bankruptcy, according to FS Asia Advisory.
The deadline for the implementation of proposed regulation may be extended, as banks protest against the potential impact of stringent new capital and liquidity rules.
Bond investors have snapped up German Bunds in recent weeks, with Europe’s sovereign debt crisis triggering a flight to quality. But is Germany really the safe haven it appears? Credit explores potential vulnerabilities in the German economy and assesses…
As thousands of barrels of oil continue to spill into the Gulf of Mexico, energy giant BP has seen its bond spreads widen to unprecedented levels. What will be the implications for Big Oil, and can investors factor in tail risks of this magnitude?
As growth in developing economies – particularly the Bric countries of Brazil, Russia, India and China – outstrips that of the developed world, companies with sizeable emerging market exposure are looking increasingly attractive to bond investors.
Economists warn fiscal belt-tightening in Europe may exacerbate imbalances in the global economy, leading to sluggish growth and excess liquidity in government bonds.
As oil continues to spill into the Gulf of Mexico, analysts have warned there is little investors can do to hedge against the risk of disasters on the scale of the Deepwater Horizon incident.
Global head of fixed income at Axa says a more cohesive political union is needed if the Eurozone is to survive.