Global
Benefits, Standards, and Price Harmonisation in the Sustainable Finance Market
MUFG has a wealth of expertise in energy and natural resource infrastructure finance, which lends itself quite nicely to understanding how to measure risk in areas ripe for green bonds and similar instruments, and the bank is of course very active in bringing borrowers into the green bond market. We speak with Geraint Thomas, Executive Director at MUFG and leader of the bank’s green capital…
11 Aug 2017
Off the Record: Global Investors On Concerns and Opportunities in Emerging Market Debt
The rally in EM assets this year seems all but unstoppable as investors continue hunting for yield further afield amidst persistently low interest rates in developed markets and a weakened US dollar. Is it set to continue? Bonds and Loans speaks with global investors one-on-one about macro trends influencing EM debt capital markets.
8 Aug 2017
Middle East Credit Markets Brief: 21 July - 3 Aug
Qatar files complaint to WTO over GCC boycott – Dana Gas cancels its offer to exchange outstanding US$700mn sukuk – Iraq taps international markets with US$1bn bond - Dubai Aerospace Enterprise (DAE) prices a US$2.3bn triple-tranche bond - ADCB raised US$320mn through 5-year Formosa bond - Al Hilal Bank issues US$100mn bond
3 Aug 2017
Fear and Loathing in Emerging Markets: EM Investing After the Crisis
When it became apparent, after the collapse of Lehman Brothers, that the global economy was encountering something more than just an ordinary downturn, most market observers were certain they knew what was in store for emerging markets. After all, the three decades prior to 2008 were littered with crises in developing economies from Mexico to Malaysia. Still, while the worst never came to pass…
26 Jul 2017
Can “Bond Connect” Hong Kong and Mainland China Markets?
The long awaited “Bond Connect” program linking the Hong Kong and mainland Chinese markets has finally launched. Even though it was initially received with warm welcome by investors, some experts believe that on its own it won’t be enough to make global players give the local Chinese markets the desired recognition.
20 Jul 2017
10 Years After the Banking Crisis: Why Regulation Still Matters
The regulations put in place after the financial crisis of 2007/2008 forced banks to keep their books in check, ultimately helping them to become healthier institutions. However, as the global economy stabilized, some experts are starting to question the necessity of these new laws, as the regulatory framework takes a dent in banks’ profits.
13 Jul 2017
Transneft vs Sberbank Ruling Threatens to Derail Russia’s Derivatives Market
The court’s decision to award the oil pipeline monopoly RUB67bn in compensation for an options trade originating in 2014 could take a trillion-rouble toll on the country’s secondary markets.
4 Jul 2017
For Emerging Market Investors, Gaining Deep Insight into ESG Still a Huge Challenge
As investors continue to flock to the nascent but growing green bond market, many still struggle to gain deep insight into the ‘greenness’ of different instruments, one of the key obstacles holding the market back.
29 Jun 2017
BBH: EM FX Model for 3Q 2017
After a tough start to the year, EM has been able to get traction. Many EM currencies are trading at multi-year highs, while EM equities (as measured by MSCI EM) are trading at the highest levels since 2015.
28 Jun 2017
Should Indexing Remain a Business?
In constitution and performance, indexes are in large part designed to act as a mirror to the markets they reflect, with investors largely vying for ways to exploit information deficiencies and fleeting hunches to beat them. But in emerging markets, there is a huge discrepancy between the assets that compose these indexes and the actual asset class, raising fundamental questions about the purpose…
26 Jun 2017