Flirting with financial crisis

Ralph Sinclair,

Jon Hay, Sarah Ainsworth, Frank Jackman

April 11, 2025 05:23 PM

◆ Did we come close to a full blown crisis before Trump's tariff climbdown? ◆ Will we face another in 90 days' time? ◆ UK regulator's astonishing covered bond ruling

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Topics

Ralph Sinclair

London Bureau Chief GlobalCapital

Jon Hay

Sarah Ainsworth

Deputy FIG editor

Frank Jackman

Covered Bond Editor

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Equity

Mutares braves volatility with Steyr Motors block

Italgas shareholders approve €1bn rights issue

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Roundtable: Japan’s transition bond market poised for next issuance spurt

There are growing signs of a global reluctance to embrace environmental, social and governance (ESG) principles, with talk of greenhushing emerging in many pockets of the bond market. Yet, Japan’s top regulatory bodies and issuers are eager to embrace ESG and, in particular, to continue growing their transition bond market, seeing its potential for ushering in change and reaching net-zero commitments.

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Roundtable: Japan’s SSAs brace for volatility as geopolitics, tariffs take centre stage

Japan’s sovereign, supranational and agency borrowers are among the most well regarded and highly rated in the international debt markets. Yet they are not immune to the volatility caused by the new US administration under president Donald Trump or the pressure from contrasting monetary policies implemented by different central banks. Timing deals well, being nimble and having diverse sources of funding are all expected to be critical in the year ahead.

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Covered Bond Deal Reviews

CRH ends tricky week with euro covered bond

◆ Book holds firm throughout pricing ◆ Recent comps lead to different fair value assessments ◆ 3% coupon appeals to high quality investors

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SSA

Alarming Treasury sell-off leaves dollar bond market 'tainted'

Public sector funding options less sure after swap spread gyrations and hit to confidence in US

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