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1 week ago | 
globalcapital.com | Ralph Sinclair |Jon Hay |Sarah E. Ainsworth |George Collard
This was supposed to be a decent year for banks in the debt and equity capital markets. But the uncertainty generated by a chaotic US tariff policy has wrecked investment banks' ability to plan and operate in their markets. We look at what is grinding the sell-side's gears and investigate how banks should navigate the volatility to meet their budgets. One area of the bond market where issuance has been slow to resume since the US first announced its new tariffs is the senior unsecured FIG market.
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1 week ago | 
globalcapital.com | Sarah E. Ainsworth |Atanas Dinov
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1 week ago | 
globalcapital.com | Ralph Sinclair |Jon Hay |Sarah E. Ainsworth |Frank Jackman
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2 weeks ago | 
globalcapital.com | Sarah E. Ainsworth
The mental gymnastics this week have been exhausting. Trying to gauge Donald Trump’s understanding of the risks involved in his trade tariff policy has been no mean feat. Whether or not he and his administration ever had the dark corners of the dollar repo market in their sights may never be known. But this is where financial crises get going and where the strain began to show this week.
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2 weeks ago | 
globalcapital.com | Atanas Dinov |Sarah E. Ainsworth
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3 weeks ago | 
globalcapital.com | Sarah E. Ainsworth
There was a time when sticking your pension into a Vanguard S&P 500 tracker for a 0.07% fee felt like a no-brainer. “Never bet against America," wrote Warren Buffett in 2021. That strategy paid handsomely under the Biden administration and — investors thought — if anyone was going to have the back of the US equity market, it was sure to be Donald Trump. But it turns out the new president does not care so much for US stocks — or not for now, at least.
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3 weeks ago | 
globalcapital.com | Atanas Dinov |Frank Jackman |Sarah E. Ainsworth
As a premium subscriber, you can gift this article for free Copy gift link https://www.demo.com/demo-article/ Link copied to clipboard You have reached the limit for gifting for this month There was an error processing the request. Please try again later. You have 10 article gifts to share each month
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3 weeks ago | 
globalcapital.com | Jon Hay |Sarah E. Ainsworth |Frank Jackman |George Collard
Genuinely useful applications of AI are still rare in capital markets, but UniCredit has come up with an intriguing one. It has built a tool called DealSync that is helping it generate M&A mandates. The supranational, sovereign and agency bond market was shocked on Wednesday to learn that it would be losing a well known issuer, KommuneKredit. The Danish government has decided it will be cheaper to just issue bonds itself. Could other agencies disappear?
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1 month ago | 
globalcapital.com | Sarah E. Ainsworth
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1 month ago | 
globalcapital.com | Sarah E. Ainsworth
Issuers no longer have the upper hand in the European bank bond market. Volatility — fuelled by US president Donald Trump’s unpredictable tariff policies and Europe’s sudden new defence spending plans — has been pervasive across equity and interest rate markets in recent weeks. That volatility has seeped into the European FIG bond markets, where investors have become more discerning.
