Comment EM and The Cover

How can capital markets professionals talk about new issue premiums when it is becoming normal for issuers to price bonds at negative yields?

China introduced its new benchmark rate, the loan prime rate (LPR), over the weekend, with the first rate published on Tuesday. The reform, which aims to help companies lower their funding costs, is likely to boost the onshore market but will make the already slow offshore market even more difficult.

Italy is a country of fast cars and has some some terrific companies for investors to invest in, but buyers must always keep in mind that political instability is as quintessentially Italian — and unpredictable — as an Alfa Romeo. It doesn't mean they cannot enjoy the ride, however.

China unveiled a new benchmark rate, the loan prime rate (LPR), for loans this week. While hailed as a groundbreaking step towards making its benchmark lending rate more market-driven, the mechanism for determining the LPR in fact grants the central bank more control over the country’s interest rates.

Political chaos in Italy disguises the progress made turning around the country’s banking sector.

China’s securities firms are about to be subject to an alarming rule that will limit their capacity to provide independent research. The decision to grade firms on their ability to manage the reputation of China and guide public opinion is a big step back for the country’s financial system.

There is a limit to what central banks can do to stop people in capital markets from reacting to their fears.

The US finally labelled China a currency manipulator this week, a day after the renminbi weakened to below the psychological level of seven against the dollar. With China clearly indicating its willingness to open a new front in the trade war, the stage is set for an increase in rhetoric between the two countries.

The latest idea captivating sustainable finance enthusiasts is transition bonds.

Look no further than the suggestions for a new set of quantitative easing (QE) measures for evidence that the European Central Bank (ECB) has run out of road.

London’s capital markets are again under threat of severe disruption as the UK’s clown prince in chief, Boris Johnson, became prime minister this week.

Strong equity market returns in 2019 have masked investor nerves and active asset mangers' reticence to buy stocks. The latest utterances of US Federal Reserve chair Jay Powell suggest they are right not to be taken in by record-breaking stock indices and that this bull market may be short lived.