IFR's daily digest of views & news for capital markets professionals
Peters ponders the impact of low rates on the banking business
The stage looks set for Atlas Mara’s strategy of building a Continent-wide capability
Warren Buffett is better positioned than the small investors, says James Saft.
China Petroleum & Chemical Corp, better known as Sinopec, is eyeing a Hong Kong IPO of its oilfield services unit in a further move to attract private capital.
US high-yield funds saw a second straight week of inflows, Lipper reported Thursday, which should help set the tone for a solid September for the asset class.
Bank of America had the field to itself on Thursday, surprising the late-summer US high-grade market with a US$4.5bn three-part deal that amassed a whopping US$13.8bn in orders.
A group of Argentina’s exchange bondholders is working with Deutsche Bank to remove the so-called RUFO clause that prevents the sovereign from offering holdout creditors better terms than those who took part in its 2005 and 2010 restructurings.
(Reuters) - Bank of America Corp reached a record US$16.65bn settlement with the US government to settle charges that it and companies it bought misled investors into buying troubled mortgage-backed securities, helping the bank close a major chapter tied to the financial crisis.
Argentina’s latest debt swap proposal may have made resolution of its default mess an even more distant prospect, but the sovereign’s bond prices still remain surprisingly robust.
The International Swaps and Derivatives Association (ISDA) will include two yen-denominated bonds in the list of securities used to settle Argentina’s credit default swaps, a move that will likely reduce the payout for protection holders.
Top Stories from this week's IFR Asia magazine
Released online Saturday 23:00 Hong Kong / Friday 16:00 London
A bidding war for Australia’s Treasury Wine Estates has set the scene for a test of the US leveraged loan market after huge high-yield bond outflows sparked a market correction.
Asian high-yield bonds are rebounding as regional investors seize a buying opportunity following weeks of outflows from US junk bond funds.
Governments and financial institutions are lining up to sell bonds to Japanese investors to take advantage of record-low yen funding costs in a market still isolated from global geopolitical tensions.
A W41trn (US$400bn) package aimed at reinvigorating South Korea’s economy has sharpened investor focus on dividends in a country with the world’s lowest corporate earnings payout ratio.
Two positive debuts helped restore confidence in Singapore IPOs last week, paving the way for the first business trust listing of oil storage terminals later this year.
New liquidity requirements for banks in Singapore are set to drive demand for high-rated corporate and mortgage-backed bonds after the city’s regulator widened its definition of liquid assets.
Alibaba Group has potentially increased the future payout from its financial services affiliate just weeks before its New York IPO is expected to launch.
China Construction Bank’s Hong Kong unit last week offered more clarity on the preferred format for bank capital with a debut US dollar offering of Basel III-compliant Tier 2 bonds.
Hong Kong’s fourth sale of inflation-linked bonds targeted retail investors, but institutional investors, eager to fill up on risk-free assets, snapped up the securities as soon as they were released to the secondary market last Tuesday.
Hong Kong-listed Far East Horizon last week became the latest low investment-grade borrower to turn to the Australian dollar Eurobond market to meet investor demand for higher yielding bonds.
Default rates in China’s trust loan sector are set to rise in the next 18 months as regulators rein in credit growth and loans to underperforming companies come due.
Brokers and investors in Greater China are preparing to test their trading systems with stock exchanges in Hong Kong and Shanghai in the next two weeks ahead of the October launch of Shanghai-Hong Kong Stock Connect.