Sector roundup


The question for the corporate bond market is how do we get to a situation where spreads are justified by credit quality? Research on the US corporate bond market suggests that a 20% increase in the average corporate’s cashflow is needed to justtify spreads.

The problem with 20% increases in cashflow is they don’t happen without rampant economic growth. And if the economy starts booming again two things are certain – equity prices will pick up and interest rates will be increased,

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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