There’s a strange phenomenon that manifests itself rather frequently when one writes a column on financial markets. Often after writing a “how much worse can it get?” piece, one discovers a while later that the asset class in question has become one of the most attractive pieces of tradable financial wealth.
We all know that banking across Asia Pacific is going through upheaval. Until around three years ago, the industry enjoyed solid GDP growth across Asia, frothy returns on equity, constrained NPLs and a steadily growing client base. Add to this rampaging regional commodity markets, you had what was for a long time the “perfect storm”.
Fears about the implications for Asia of a Trump presidency, which reached maximum intensity soon after his election, have subsided. It seems to me that the anxiety was probably misplaced all along.
Hong Kong’s IPO market is an unlikely beneficiary of China’s capital controls.
If Theresa May is looking for moral support as she enters two years of Brexit negotiations, she is unlikely to find it in Asia.
Life must be lived forwards, but it can only be understood backwards. So wrote the Danish philosopher Soren Kierkegaard in the 19th century. He was writing about human consciousness, but this epigram can just as easily apply to the collective life of countries such as Cambodia, whose tragic history continues to shape its existence.
It seems like only yesterday that Green bonds were the coolest toy in the panoply of socially responsible investments, but they may soon feel old hat if a sudden flurry of new ethical fixed income products is anything to go by.
Asia’s high-yield bond market received a long-overdue reality check last week when Eros International became the first issuer from the region to pull a G3 bond deal since November.
The delayed merger of State Bank of India with its affiliates is keeping India’s largest banking group away from the capital markets, its chairman said in an interview.
I had a chat with an old friend from the Asian debt markets recently who is involved with something that I had long envisaged and, in my flights of fancy, even imagined setting up myself – that is a “bond app”.