Companies facing activist shareholders are turning more frequently to independent investment banks to help them mount a defence.
US companies are already looking well beyond last Wednesday’s first rates hike in a year, focusing instead on policy under the Trump administration and its effects on the corporate bond market.
Greece’s major creditor, the European Stability Mechanism, is hopeful that the country can return to the bond markets within the next 20 months but bankers remain sceptical that it will do so in time to refinance the first of its post-restructuring bonds, which comes due next July.
(CORRECTS 23rd paragraph to say LGIM has unbundled research payments on active funds, resulting in small increases in fixed fund management fees)
Australia and New Zealand Banking Group took advantage of pent-up demand for bank-originated RMBS last week as it ended a self-imposed 12-year exile from the mortgage-backed market.
Donald Trump’s inauguration on Capitol Hill next January will be keenly watched in Washington DC, not least over at the headquarters of the World Bank and International Monetary Fund.
Capital markets were supposed to grind to a juddering halt if Donald Trump succeeded in his bid to become the 45th president of the United States. In the event, it took just a few hours for deals to return to market and for service – albeit not a full one – to resume.