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Capital Markets News, Data & Analysis | GlobalCapital free trial log in Home News News Channels SSA FIG Securitization Corporate Bonds SRI / Green Bonds Syndicated Loans LevFin Emerging Markets GlobalCapital China Equity Derivatives People & Markets Comment Covid-19 Crisis Data Data Channels SSA FIG Securitization Corporate Bonds SRI / Green Bonds Syndicated Loans LevFin Emerging Markets GlobalCapital China Equity Bank Profiles Special Reports Polls & Awards League Tables GlobalMarkets GC Asia Free Trial Close HOME Equity Equity investors wobble as value fears rise despite Reddit rocket US equity markets suffered their worst single day since October on Wednesday, as equity investors reacted to growing concerns over stock valuations and fears of Covid-19 vaccine disappointment. Equity capital markets bankers hope that investor sentiment will hold for new deals, even if global markets take a turn for the worse. Sam Kerr reports. 28 Jan 2021 Sovereigns Will Germany reapply the debt brake? German politicians are planting their flags, preparing for the leadership tussle that is set to follow chancellor Angela Merkel’s departure from the post later this year. Low rates have increased debt’s popularity as the means to fund economic stimulus but Germany’s frugality is legendary and now a fight is brewing over relaxing its famous debt brake, writes Lewis McLellan. 28 Jan 2021 SRI / Green Bonds Green finance to boom, led by US and LatAm Sustainable bond issuance has made its strongest start to the year ever, thrusting the market towards what most observers believe will be a year when many records will be broken — especially in north and south America, where environmental and social consciousness is rising. Jon Hay, Mike Turner and Oliver West report. 28 Jan 2021 RMBS Kensington brings landmark ‘social RMBS’ to Europe Kensington Mortgages is bringing the first labelled social RMBS in Europe, a landmark transaction set to be followed by others, as the securitization market catches up to other capital markets which have more readily adopted ethical frameworks. By Tom Brown. 28 Jan 2021 Keeping tabs Inauguration snack, stimulus plan under attack, on class people look back This week in Keeping Tabs: disagreement over stimulus in the US, a treat for the end of Trump, and how people present their backgrounds. 22 Jan 2021 Crisis Talk Sovcombank CEO sees bright future for bank and Russia 16 Dec 2020 ‘The auditors have been asleep at the wheel,’ says forensic accountant Steve Clapham 30 Nov 2020 ‘We need to keep our powder dry’: Sonny Dominguez, finance minister of the Philippines, talks about his coronavirus response 05 Nov 2020 People & Markets Brexit: EU could look to ’squeeze harder and tighter’ Banks and other financial services firms continue to adapt to Brexit, with more than 400 firms estimated to have moved some part of their business to the EU. 28 Jan 2021 CSAM hires direct lending origination head following Qatar tie-up Credit Suisse Asset Management (CSAM) has hired a head of origination in its direct lending group, following the firm’s multi-billion push into private credit in partnership with Qatar Investment Authority. 27 Jan 2021 ECM surge helps Hamers’ UBS UBS, the first major European investment bank to report fourth quarter results, smashed through expectations in global banking, with that part of its business benefiting from equity capital markets revenue more than doubling year-on-year. 26 Jan 2021 ECB launches climate centre as central banks ramp up green work The European Central Bank will use a new climate change centre to improve its work on the topic, while also investing in a new green bond fund set up by the Bank for International Settlements. 25 Jan 2021 BNP Paribas, CS and ING to cut Amazon oil financing Three of the most active banks in financing oil exports from the Ecuadorian Amazon — an environmentally destructive industry with a long track record of trampling on indigenous people’s rights — have agreed to cease important parts of their financial support, after pressure from NGOs and a devastating oil spill in 2020. 25 Jan 2021 Leaders Long attacks are here to stay Andrea Orcel, the new CEO of UniCredit, may be annoyed to be upstaged by Avalon Penrose, an actor whose hilarious and heart-tugging Twitter video about the GameStop share maelstrom has captured the insanity of stock markets. 28 Jan 2021 Social RMBS, and not before time Kensington is marketing the first ever RMBS ’social bond’, which could mean investors accepting a lower spread for their mortgage bonds thanks to the label. But Kensington’s lending approach will be little changed by the new issue, raising the question of what the new issue changes. 28 Jan 2021 Southpaw by David Rothnie UniCredit hires Orcel: is Italian consolidation on the cards? FIG rainmaker Andrea Orcel is stepping back into the limelight as UniCredit chief executive, just as momentum is building for large-scale banking consolidation. He has an array of M&A options, but will he be shy in pulling the trigger? David Rothnie reports. 28 Jan 2021 COPPLESTONE’S CARTOON EU impresses with first SURE deal of 2021 28 Jan 2021 Bond Comments EU EUR10bn 0% Jun 28 social bond, EU EUR4bn 0.3% Nov 50 social bond tap 28 Jan 2021 OeKB USD1.5bn 0.5% Feb 26 28 Jan 2021 Austria EUR4bn 0% Feb 31 28 Jan 2021 La Banque Postale EUR750m 0.75% Aug 32 tier two 28 Jan 2021 Deutsche Pfandbriefbank EUR500m 0.1% Feb 26 green 28 Jan 2021 More Bond Comments The View Will direct lenders prove to be wolves in sheep’s clothing? Direct lenders and debt funds have always pitched themselves as being more suitable partners for businesses than banks, bondholders, or other institutional lenders. When the going gets tough, they can be quicker to waive covenants and offer new money than a less concentrated creditor group. But this also puts them in pole position to take the keys from a business should things go wrong — which we may see happen this year. 26 Jan 2021 The View Bubble watch: markets need to be needle-sharp The View Asia’s Spac IPOs are best done away from home The View Rising encumbrance is the ECB’s problem Special Reports Review of the Year 2020 17 Dec 2020 Investing in Indonesia 17 Dec 2020 The LBBW Public Sector Issuers’ Roundtable 11 Dec 2020 The Standard Chartered high yield bond roundtable 07 Dec 2020 CEE Sovereign Issuance 06 Oct 2020 Investing in Egypt 30 Sep 2020 GlobalCapital Bond Awards 2020 30 Sep 2020 The Vistra structured finance roundtable 30 Sep 2020 GlobalCapital’s Global Derivatives Awards 2020 23 Sep 2020 Japan in the Capital Markets Sep 2020 18 Sep 2020 The GlobalCapital Covered Bonds Awards 2020 17 Sep 2020 AFME Roundtable Sep 2020 15 Sep 2020 SSA Will Germany reapply the debt brake? German politicians are planting their flags, preparing for the leadership tussle that is set to follow chancellor Angela Merkel’s departure from the post later this year. Low rates have increased debt’s popularity as the means to fund economic stimulus but Germany’s frugality is legendary and now a fight is brewing over relaxing its famous debt brake, writes Lewis McLellan. 28 Jan 2021 Sovs soak up big demand on back of EU jumbo Iceland prints biggest euro bond since 2014 as Joint Laender falls flat FIG Swedish covered bond liquidity buffer under the spotlight Swedish bankers have argued that proposed amendments to the country’s covered bond law, which bring it into line with the EU’s Covered Bond Directive (CBD), must demand that liquidity buffers in soft bullet bonds cover interest payments during any 12 month extension period, as opposed to covering interest and principal for 180 days — a standard more commonly seen in hard bullet maturities. 28 Jan 2021 Euro FIG spreads widen despite low supply volumes Unclear rates, tight spreads muddy covered outlook Securitization CLO specialist fired by Penn Mutual CLO specialist at Penn Mutual Asset Management Jason Merrill was fired on January 7 after eight years with...