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Sunday, 16 June 2019

Markets

BoE calls time to stop Libor 'limping on'

IFR 2287 8 June to 14 June 2019

Britain’s financial regulator has stepped up its warning that users of financial markets will no longer be able to reference Libor in products after 2021, and that the interest rate benchmark will deteriorate in accuracy before that date.

Nikko AM launches TLAC bond fund

IFR 2287 8 June to 14 June 2019

Nikko Asset Management has launched a new fund dedicated to investing in total loss-absorbing capacity (TLAC) bonds, catering to Japanese investors seeking high-yielding instruments.

A Japanese flag flutters atop the Bank of Japan building in Tokyo.

Japan's NEXI signs MOU to connect investors and infra projects

07 June 2019

Japan’s Nippon Export and Investment Insurance signed a memorandum of understanding with 13 banks to attract funding from institutional investors for infrastructure projects in developing countries.

IFR

COMMENT: ECB - rate cut bets persist despite guidance

07 June 2019

The inconsistency between the ECB’s rate forward guidance (unchanged rates at least through first half of 2020) and market pricing remains. While market pricing has reduced the odds of a 10bp cut by March 2020 to 70% from 100% prior to yesterday’s meeting, a rate cut is still priced in during H1 2020.

Logo of Nikko Asset Management

Nikko AM launches TLAC bond fund

06 June 2019

Nikko Asset Management has launched a new fund dedicated to investing in total loss-absorbing capacity (TLAC) bonds, catering to Japanese investors seeking high-yielding instruments.

Divyang Shah

COMMENT - ECB preview: TLTRO3 cost/forward guidance shift expected

06 June 2019

We expect the ECB today to deliver what is likely to be a mini-easing package as downside risks to growth/inflation remain in play. At least as important as the easing will be the overall message that is likely to consist of 1) optimism over the outlook such that growth and inflation are expected to improve; and 2) the ECB is willing to use all policy tools should risks crystallise.

ING Group logo

ING cutting DCM, advisory staff in London

05 June 2019

Dutch bank ING is cutting more than 35 people in its loan syndication, corporate finance, debt capital markets and money markets businesses, according to sources.