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Sunday, 09 December 2018

London Disconnect

IFR Asia 1070 - December 8, 2018

Did Brexit just derail the Shanghai-London Stock Connect link?

Perpetual trouble

IFR Asia 1069 - December 1, 2018

It is an open secret in the capital markets that perpetual bonds do not, in fact, last forever. That message, however, has yet to make it to China’s ruling classes.

Done deal

IFR Asia 1069 - December 1, 2018

Institutional investors can move on. SoftBank Corp’s record IPO is practically a done deal, even before bookbuilding begins.

London landmarks

IFR Asia 1068 - November 24, 2018

The introduction of the Shanghai-London stock trading link has enormous political significance for the governments at each end of the connection. In capital markets terms, however, its success will boil down to two things: price, and liquidity.

A better Masala recipe

IFR Asia 1068 - November 24, 2018

Masala bonds are finally back on the menu for Indian companies after an eight-month diet, but bankers and issuers should not be expecting a feast.

Scrip doctors

IFR Asia 1064 - October 27, 2018

Never mind Adam Smith’s invisible hand, state-owned entities in China and Bangladesh are proposing to deliver a helping hand to ease the pressure on investors facing losses in their troubled equity markets. Not only that, but they are planning to issue bonds to fund the exercises.

Better late than never

IFR Asia 1064 - October 27, 2018

The Korea Housing Finance Corp has finally achieved a long-held goal to issue covered bonds in the euro market. It is, perhaps, a surprise that it didn’t come sooner. US interest rates are rising, and it’s no secret that Europe has a much more liquid covered bond market that the US, which is where KHFC has issued all of its previous deals.

Malaysia on hold

IFR Asia 1063 - October 20, 2018

Malaysians like to boast of having the best bond market in Asia, capable of funding even long-term infrastrucure projects in local currency. They now have an awkward question to answer: what happens when the government stops issuing?

Seismic shifts

IFR Asia 1062 - October 13, 2018

An earthquake in the small hours of Thursday morning gave delegates at the IMF’s annual meetings in Bali an uncomfortable reminder that Asia’s emerging economies remain vulnerable to unforeseen shocks. The financial markets are doing their part, too.

Going through the motions

IFR Asia 1062 - October 13, 2018

China's US$3bn sovereign bond issue on Thursday was only its third in the US dollar market since 2004, but after last year's triumphant return it was hard to escape a sense of weariness and déjà vu, with all eyes focused instead on Wall Street's rout.