Squeezing every last drop
When the luck of the Irish ran out...
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?
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.
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.
Investors and economists have identified German banks’ exposure to Europe’s indebted peripheral sovereigns as a potential risk to state finances.
The Lombard Street Research chairman tells Credit the German economy is far weaker than has been supposed.
Eastern Europe credit investors turn their backs on the Balkans and head for CIS, Poland and Czech Rep
Events in the Eurozone have put the brakes on eastern Europe’s strong recovery from the financial crisis, but bond investors continue to identify opportunities in the region, particularly amongst the larger economies.
Sound economic fundamentals have meant South Korea’s sovereign bond yields have remained low despite the political standoff on the Korean peninsula.
Bond investors are looking to the relative safety of Poland and the Czech Republic as the Eurozone debt crisis takes toll on eastern Europe’s smaller economies.
As governments across Europe announce austerity measures designed to rein in deficits, sovereign and corporate bond investors are divided over the scale and timing of the cuts.
After Greece, Portugal and Spain suffered rating downgrades in April due to escalating fiscal problems, investors ask if the same standards are being applied to advanced economies.
Senior EU officials may have criticised the rating agencies for reacting too aggressively to Europe’s fiscal woes, but investors say the reverse is true and the agencies remain behind the curve.