sections

Sunday, 25 August 2019

Markets

Euros

Structured notes get funkier amid global yield drought

IFR 2297 24 August to 30 August 2019

The mountain of negative-yielding debt in financial markets is encouraging a growing number of European insurance companies to buy a new breed of structured note that uses greater levels of financial engineering to juice returns.

An Argentina fan at the 2015 Rugby World Cup

Fitch cuts Argentina three notches on default concerns

16 August 2019

Fitch downgraded Argentina to CCC from B on Friday afternoon capping a volatile week for the sovereign following President Mauricio Macri’s surprise upset in the primary election.

Credit derivative volumes surge as bond liquidity concerns persist

Credit derivative volumes surge as bond liquidity concerns persist

IFR 2296 10 August to 23 August 2019

Trading activity in total return swaps linked to credit indices has hit a record high this year, as a growing number of investors embrace these credit derivatives to take views and hedge their corporate bond portfolios.

Trio steady Bank of Jinzhou

IFR 2295 3 August to 9 August 2019

Three strategic investors have agreed to take stakes in Bank of Jinzhou as the Chinese government seeks to save the country’s troubled lenders through market-based measures, with more policy easing on the way to ease stress in the financial sector.

The dollar sign (R) is seen alongside the signs for other currencies above a currency exchange shop in Mongkok shopping district in Hong Kong.

Five big banks face UK class action over FX rigging

29 July 2019

(Reuters) - Barclays, JP Morgan, RBS, UBS and Citigroup are being sued by investors over allegations they rigged the global foreign exchange market, in a test of US-style class actions in Britain.

John C. Williams, president and CEO of the Federal Reserve Bank of New York

Regulators call for urgent move away from Libor

15 July 2019

(Reuters) Federal Reserve Bank of New York President John Williams on Monday said the finance industry “must not wait” to stop using the Libor lending benchmark.

Chinese flag

COMMENT - China growth, quality or quantity?

15 July 2019

The weakest growth in China during Q2 for at least 27 years has led to the usual reaction of 1) increased concerns over global growth; and 2) calls for more fiscal and monetary policy stimulus.