Bonds
Irish government considers sovereign annuity bonds
IAPF director insists plan is not a bailout of private sector schemes
German agency KfW maintains its €75bn issuance target for 2010
The head of capital markets at KfW, Horst Seissinger, explains how building long-term relationships with investors has helped the bank achieve its funding targets even during periods of extreme volatility in the financial markets.
Issuance slowdown raises refinancing fears for high yield borrowers
Corporate bond issuance plummeted in May, with issuers and investors wary of the effects of the ongoing sovereign crisis on the credit markets. Faced with an unprecedented refinancing wall, it may be high yield borrowers who suffer most.
S&P creates taxable municipal bond index
Standard and Poor's has created a taxable municipal bond index to give investors access to this low default risk, high return bond class.
Vanguard expands ETF offering with products on equities, fixed income and property
US ETF company Vanguard has increased its business with products on US equity benchmarks, real estate and bonds
Sovereign debt and CDSs: a collection of articles from Risk.net
The world is watching nervously as sovereign debt is rocked by fiscal and economic crises in the eurozone.
S&P creates taxable municipal bond index; talks structured products and ETFs
Standard and Poor's Taxable Municipal Bond Index offers exposure to a market that has grown substantially since the beginning of 2009.
Struggling sovereigns could look to retail bond solution
Spain and Portugal should follow Italy’s lead by tapping retail investors, says Barclays economist.
Bond ambition – The World Bank’s attempts to launch a longevity bond in Chile
Attempts to diversify longevity risk into the broader financial system have so far focused on using swaps. But in an ambitious move, the World Bank has tried to launch the first ever longevity bond in Chile. Aaron Woolner reports on how successful this…
How to pick crisis-proof credits
The credit bull run of 2009 is a footnote in history. But discerning fund managers are finding there is still value to be had in credit; the challenge is picking the right names.
Indian corporates frustrate international bond investors by sticking to domestic rupee markets
International asset managers are keen to gain exposure to India, but just how keen is India to court foreign investors? With local companies able to fund themselves adequately in the domestic market, investors may struggle to find suitable offshore bond…
Bond syndication process cheats investors
New issue distribution is not a fair deal for bond investors because the syndication process is so opaque
Russia $5.5bn bond establishes benchmark curve
The Russian Federation returned to the international markets last month for the first time since its 1998 default, potentially paving the way for corporate issuers to follow.
Yields on Africa debt drive new demand from credit investors
Risks to investment include high inflation and corporate governance problems in many African countries.
Africa must not become overly reliant on foreign investment: Jacqueline Irving interview
Local bond markets can provide sub-Saharan Africa with much-needed financing, but countries must guard against over-borrowing.
Inflation issuers face Greek fallout
Issuance of sovereign inflation-linked bonds is expected to reach record highs this year as governments struggle with vast fiscal deficits. With investors shaken by the crisis in Greece, however, some issuers may have to draw on the lessons of the crisis…
Betting on basis
Large offshore capital raising efforts by Australia’s banks and a relative dearth of activity in the kangaroo bond market has led to a significant widening in the cross-currency basis swap. This imbalance has created a large profit opportunity for fund…
