Alternative definitions of the year’s buzzwords
Amp
Short for ampere, unit of electrical charge
AMP
Creator of imaginary charges
Belt & Road
1. Fast track to Chinese regulatory approval;
2. Anything you want it to be
Biotech IPOs
Buy four, make money on one
Blue bond
When a frontier market issuer jumps in at the deep end
Bondi
A blockchain bond without blockchain settlement
Chairman
Bond buyer of last resort
Chinese Depositary Receipt
regulatory own goal of the year
Collar financing
A share-backed loan that comes with a noose around one’s neck
Cryptocurrency
An asset that loses value even faster than the rupiah
Dual-class shares
Just what the doctor ordered (HKEx); why did we bother? (SGX)
Frontier market issuer
Jumping the HY queue
Indian AT1
In public sector banks, senior debt that can be repaid at any moment – basically a state-backed loan
Jho Low
See below
Lay low
To go into hiding
Liability management
Finding a scapegoat for dodgy sovereign-linked deals
Mahathir Mohamad
Face of Asia’s youthful future
Masala bond
Indian recipe requiring years of seasoning
Maturity mismatch
Using proceeds from a 10-year sovereign bond to fund a three-day APEC summit
Money for Nothing 1
Insurance policies imposed on Australian bank customers
Money for Nothing 2
Australian bank executives’ 200% bonus for “on-target” performance
Musk (verb)
To drive up a company’s share price using Twitter
NBFC
Non-Bank Facing Crunch
Papua New Guinea
Seeking bonds of paradise
PIG notes
Bonds for which the interest is paid in ham because the issuer ran out of money
RBI
Reserve Bank of India. Definitely nothing to do with the Indian government
Retail bond
Two Singapore aunties spending time shopping together
Royal Commission
Monarchist wing of Australia’s banking sector
Shanghai Tech Board
A pot of gold at the end of a rainbow
Shanghai-London Connect
Brexit casualty
Sustainable finance
Not issuing one-year bonds at 15%
TLAC
In Japan, 2018’s must-have fashion accessory
Trade war
Cowardly way to score political points
Volatile market
Also known as bear market (when did you last hear a rising market described as volatile?)
Wealth management product
In China, probably someone’s repackaged AT1 notes. Who knows?
Yield curve control
The latest trend in Japanese minimalism
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