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Digital Weekly
Capital markets pray for decisive US election victory

Equity

Capital markets pray for decisive US election victory

The US presidential election is next week but, unlike the rest of the world, capital markets professionals are not rooting for Joe Biden or the incumbent, Donald Trump, to win. Instead, they just want a clear result that will spur issuance for the rest of the year. Sam Kerr, Mike Turner, Lewis McLellan, Mariam Meskin, Frank Jackman and Aidan Gregory report.

  • Lockdowns and largesse to spark IG supply as pricing poses puzzle

    High Grade

    Lockdowns and largesse to spark IG supply as pricing poses puzzle

    Fresh national lockdowns across Europe and further ECB stimulus are tipped to lead to a surge in high grade corporate bond issuance in early November. But the central bank’s bond buying has turned finding fair value into a convoluted process and this will likely only become more difficult after it hinted on Thursday at doing even more in December.

  • Fed to underpin EM whoever wins White House race

    Emerging Markets

    Fed to underpin EM whoever wins White House race

    Donald Trump and Joe Biden each present a different set of medium-term risk factors for emerging markets if they win next week’s US presidential elections. But the US Federal Reserve’s promise to keep rates lower for longer — combined with unprecedented monetary policy support from other developed market central banks — should provide a cushion that is more relevant to EM bonds than the Oval Office’s occupant. Mariam Meskin and Oliver West report.

  • Ant makes history with $34bn listing on HK, Star exchanges

    IPOs

    Ant makes history with $34bn listing on HK, Star exchanges

    Chinese financial technology company Ant Group has sealed the world’s largest ever IPO, raising $34.4bn from dual listings in Shanghai and Hong Kong. The company built two mammoth order books despite a turbulent week for equity markets globally — although that created serious challenges for bankers allocating the stock. Jonathan Breen reports.

  • Competitors eye US student loan market as Wells walks

    ABS

    Competitors eye US student loan market as Wells walks

    Competitors are beginning to circle Wells Fargo’s chunky share of the US student loan market. The opportunity is particularly attractive for non-bank ABS issuers such as Navient and Sallie Mae, sources say, who are looking to translate demand into new origination volumes. Jennifer Kang reports.

  

  

People & Markets

  • Citi sets up unit to advise governments on digitalisation

    Citi sets up unit to advise governments on digitalisation

    Naveed Sultan will develop and lead a new digital policy, strategy and advisory practice for governments, corporates and financial institutions at Citi, and has been appointed chairman in the bank's institutional clients group (ICG).

  • ECM fees triple at Credit Suisse

    ECM fees triple at Credit Suisse

    Fee growth from Credit Suisse's equity capital markets business supported its newly established investment bank, its third quarter results on Thursday showed.

  • Deutsche's investment bank makes almost €1bn, again

    Deutsche's investment bank makes almost €1bn, again

    Deutsche Bank's fixed income and currency bankers continued a strong run in the third quarter, the firm's results on Wednesday showed. Profit before tax at the investment bank has now been enough to cover losses from the capital release unit for two consecutive quarters.

  • Biodiversity: banks lack even basic controls

    Biodiversity: banks lack even basic controls

    The threat to biodiversity is moving up the agenda of financial markets, but banks are woefully unprepared, a new study has found — in fact, they are actively financing what scientists believe is a mass extinction of species.

  • What better time to expand the IFFIm model

    Take advantage of low borrowing rates to enact ambitious social programmes. That is economists' message to governments in the developed world right now. The message could also apply elsewhere.

  

Southpaw
by David Rothnie

Emerging Markets

Asia

GlobalCapital China