At the beginning of each month Tradeweb publishes a number of headline figures from its government bonds trading platform. For July, the growth in trading volumes seen in French and Belgian government bonds led to news stories in Dow Jones and the Wall Street Journal.
Leading Indian retail company Bharti Retail Limited called upon Citi’s expertise to upgrade its payments system as it continued to expand geographically on the back of Asia’s economic success. An article in Retail Asia describes how the implementation of sophisticated payments processes can aid efficiency and provide a strong foundation for future growth.
UK manufacturing has been on a steep and well reported decline for several decades. However, a recent case study by Solutions Architect Pavle Sabic found that several niche manufacturers based in Britain are in rude health and outperforming the sector-at-large in a number of asset classes.
Using S&P Capital IQ’s proprietary data, research and analytics, Pavle demonstrated how they’re outperforming in the July/August issue of Funds Europe, available online here.
Rupert Warmington of Tradeweb writes for FTSE Global Markets to explain how and why the trading of corporate credit will continue to migrate towards electronic trading platforms. New regulations for execution, reporting and clearing of swaps trades are having an impact in all fixed income markets – but more important are market participants’ requirements to seek enhanced liquidity and operational efficiency.
The latest edition of Infrastructure Finance Outlook (IFR), Standard and Poor’s Rating Services’ EMEA Infrastructure Finance newsletter, has been published. It includes all the recent news, updates, and research from S&P on Europe’s infrastructure sector. Highlight’s from this month include an articles on the credit risk implications of Ofgem’s latest RIIO proposals, and on tough times for Europe’s transport firms.
To pull through the current economic crisis, eurozone countries with chronic external deficits need to improve their foreign trade. Patrick Artus, chief economist at Natixis investment bank, has analysed the options for Greece, Portugal, Spain, Italy and France in Trade Finance magazine. He argues these countries need to focus on increasing exports by improving price-competitiveness and sophistication of products.
In his weekly column for FX-MM, Natixis strategist Nordine Naam observes and analyses the highlights in global forex trends. This week, the EUR/USD rebounded sharply due to Mario Draghi’s announcement on Thursday that the ECB will do whatever it takes to preserve the euro. Meanwhile GBP corrected downward against most G10 currencies – affected by the strong 0.7% contraction in GDP in the second quarter. The Japanese yen continued to appreciate against most currencies because of its safe haven status, and AUD and NZD remained very firm. For the exact rates and more analysis on other currencies, read the full article here.
In his column for the FTSE Global Markets blog, Patrick Artus, chief economist at Natixis, explains why the European Central Bank needs to return to a policy of purchasing sovereign bonds. He points to the deteriorating positions of Spain, Italy, France and Portugal and the continuous weakening of the economy. Given the size of these countries’ debts, the original planned solution (bond purchases by the EFSF/ESM) will not be sufficient.
Two drastic steps in institutional policy are needed to permanently solve the eurozone crisis, says Patrick Artus, chief economist at Natixis. One, the region should start a process of joint financing (i.e. pooling of debt), and two, components of federalism need to be implemented. His article on the subject, published as a guest commentary for International Financing Review, was the leading story on the publication’s website. He says that the region needs more than policy-makers’ willingness – there must be commitment to change from reaction to restoration.
While the Gulf region has been an important focus for international banking for many decades, regional capital markets have yet to develop the depth and breadth expected of more-developed markets.
To this end, S&P Capital IQ’s Managing Director, Damian Burleigh, advocates a general improvement in transparency in the latest issue of The Bahrain Banker, available online here.