Jonathan Rogers graduated from Oxford University in 1986 where he read Politics, Philosophy and Economics. That year he joined Nomura International , attending the company’s graduate trainee programme at Nomura Securities’ headquarters in Tokyo. He worked as an institutional bond salesman for Nomura in London for five years, covering central banks and institutions in Scandinavia. He subsequently worked on the institutional sales desk at Long Term Credit Bank of Japan in London before moving on to the derivatives and structured note desk at First National Bank of Chicago in London. Jonathan joined IFR Asia in 2003 as syndicated loans editor and subsequently became debt capital markets editor in 2005. He is currently IFR Asia’s chief analyst, credit.
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IT’S ALL ABOUT infrastructure these days, particularly in Asia, where the annual spend required to plug the region’s gap in everything from power production to roads and airports is estimated to reach US$5.36trn annually by 2025, according to PwC. Small wonder, then, that lots of people are trying to get a piece of the project finance advisory game.
The Philippines under its recently elected president Rodrigo Duterte displays some uneasy contradictions. Against the backdrop of extra-judicial killing which has delivered more than 3,000 deaths since his inauguration, and a bomb blast last month that prompted him to declare a national state of lawlessness, credit and equity markets seem impervious. Can this last?
SOMETHING RATHER ODD is happening in the money markets. Libor is through the roof. It’s supposed to be a temporary spike based on US money market funds avoiding pending regulation, but I wonder.