The View

  • Don’t seek logic in stock price moves

    Don’t seek logic in stock price moves

    Imagine trying to explain stock markets to an alien or an intelligent caveman, someone who has grown up in a world without the flicker of red and green numbers, the theatre of shareholder meetings, the strange spectacle of Jim Cramer’s pre-scheduled rage.

  • Showing ESG rankings everywhere is good biz

    Showing ESG rankings everywhere is good biz

    ESG ratings are starting to appear in term sheets for high grade corporate bond issuers, regardless of whether or not the deal is a themed issuance. This is a sensible move and ought to have a positive impact on the curve for the issuer.

  • Being green no longer enough in battle to attract equity capital

    Being green no longer enough in battle to attract equity capital

    Renewable energy has been one of the hottest sectors in Europe’s equity capital markets in recent times but investors are no longer just buying companies for their verdant hue. Issuers must now prove they have the financial strength to back their environmental credentials.

  • Another crunch decision for Turkey's central bank

    Another crunch decision for Turkey's central bank

    Turkey's central bank once again faces a critical rates decision this week. Any whiff of a cut in rates would be disastrous for the volatility-stricken country and its access to capital markets.

  • Asia’s capital markets: in for a rough ride

    Asia’s capital markets: in for a rough ride

    Asia’s capital markets had a hot first quarter, with volumes soaring across both DCM and ECM. Momentum still appears strong — but market participants should brace themselves for a tough time ahead.

  • Revised Taxonomy will hinder green bonds

    Revised Taxonomy will hinder green bonds

    The European Commission’s draft Taxonomy for Sustainable Activities will stymie green bond issuance as it’s based on an unfair system that excludes mortgages on many countries’ most energy efficient buildings.

  • Deliveroo woe doesn’t have to shut European IPO market

    Deliveroo woe doesn’t have to shut European IPO market

    The disastrous listing of food delivery app company Deliveroo in London last week sent shockwaves through equity capital markets, with some suggesting it will dampen Europe’s IPO market in the next few weeks. But it needn't be as bad as all that. Investors are keen to take part in IPOs — they just need greater discounts that match their perceptions of risk.

  • MetLife’s EFL result shows bilateral funding potential

    MetLife’s EFL result shows bilateral funding potential

    The fact that a large US insurance company could offer the English Football League better lending terms than UK banks or other investors is revealing. UK lenders are shying away from deals, which has opened the doors to institutional investors. The speed with which a tailor-made EFL deal was done shows how quickly they can replace traditional creditors.

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