Natixis examines French economic policy on IFR

In a bid to eliminate the structural problems currently hitting his country’s economy, French president Francois Hollande announced a significant policy shift towards stimulating supply last month. In response, Patrick Artus, chief global economist at  Natixis, explains in International Financing Review why we should welcome the move away from demand-side socialism – but we should not expect too much from it.

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Standard and Poor’s: European growth slump drags on corporate credit prospects in 2013

As revealed in it’s latest report, Standard & Poor’s anticipates that the European speculative-grade default rate will rise to 6.8% by the end of 2013, driven by the still deteriorating credit quality of companies assigned private credit estimates, weak eurozone economy, and looming debt maturities.

Targeting the buyside media, Moorgate secured coverage of the report in City AM, FTSE Global Markets, and GT News.

BNY Mellon expands Treasury Services team

BNY Mellon, the global leader in investment management and investment services, has expanded its Treasury Services team by appointing Edith Rigler to the role of Business Strategy and Market Solutions Market Manager for Treasury Services EMEA. Moorgate facilitated this announcement by drafting the press release and circulating it to a select list of sector publications. Published in key titles such as City AM, EMEA Finance, GTR and FX-MM – online and in print – the announcement successfully reached its target audience.

Italian government bond yields spike on Tradeweb

Mario Monti, the Italian prime minister, surprised financial markets with the announcement he will resign following the next Italian budget. Following the news, the Italian stock market fell over 2% and yields on Italy’s 10-year benchmark bond (the BTP) experienced their largest single-day increase since September 2011, climbing from 4.55% to 4.83%. Clearly, the announcement concerned traders and investors with Italian exposures.

Having spotted this spike in BTP yields on Tradeweb, we pitched the data to Investment Week, and we tipped off our New York affiliate, John Roderick (who represents Tradeweb in the US) prompting further news stories in titles such as the LA Times.

S&P Capital IQ shows health of European corporates seeking fresh pastures

Even with a stagnant economy, European corporates need to deliver value to their shareholders through earnings growth in the years ahead. S&P Capital IQ analysis – by Solutions Architect, Andrew Lecocq, and Managing Director, Silvina Aldeco-Martinez – shows how they might do that through overseas M&A.

Indeed, in a by-lined commentary article published by Finance Magazin (in German) and CFO-Insight.com (in English), Andrew and Silvina explain how the European corporates already employing this strategy have achieved better Return on Equity than their peers in recent years.

Value of pension schemes using PensionsFirst’s technology tops £80bn with addition of RSA and Heineken

This week both RSA, the leading global insurer, and Heineken, the international beer and cider company, announced their adoption of PensionsFirst’s award-winning risk management platform, PFaroe to manage their defined benefit pension risk exposures. With the addition of these two names, PFaroe is now being used by more than 30 pension plans representing over £80bn of pension liabilities – a story covered by Professional Pensions,  Employee Benefits and Insurance ERM following Moorgate’s outreach.

 

Central banks are looking in the wrong place, says Natixis

In his most recent blog for FTSE Global Markets, Patrick Artus, chief global economist at Natixis, is concerned that central banks in the US, the UK and the euro zone are disregarding the effects of their highly expansionary monetary policies. While such strategies aim to stimulate growth, Artus points to similar, unhelpful central bank behaviour between 2000 and 2007, right up to the onset of the global financial crisis.

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In the FTSE Global Markets blog published last week, Artus draws attention to key “trend breaks” influencing the health of today’s global markets, such as reindustrialisation in the US, slowdowns in growth and global trade, and a recession in the euro zone. He sought to determine where investors should be looking in light of these trends, and indeed, which areas to best avoid.

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Natixis considers the Irish recovery in Investment Europe

Ireland seems to be on the road to economic recovery, with falling government bond yields and credit ratings agencies raising their outlook for the economy. But in a guest commentary for Investment Europe, Rene Defossez, fixed-income strategist at Natixis, argues that these developments must be put into perspective. Austerity measures continue to leave imprints on the economy, and the country remains too closely tied to euro area risk. Before investors’ confidence can fully return, there needs to be further – and noticeable – improvements made.

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BPL Global discusses the potential impact of China’s new leader on trade

Xi Jinping has been confirmed as the man to lead China for the next decade. While it remains to be seen how increasing consumer demand (Chinese demographics and infrastructure expenditure have driven much of its GDP) will affect imports, the change of leadership will impact both trade and trade finance in the country. Speaking to Trade & Forfaiting Review, Anthony Palmer, Chief Executive of BPL Global in Asia, suggests that appointment of Xi Jinping is in keeping with previous leadership appointments in China in recent years which emphasise technocratic managerial abilities the kind of which are needed to supervise China’s continuing rise as a trading nation and global economic powerhouse. He goes on to discuss the region’s private credit and political risk insurance market, which remains fully open for both investments in and trade with China.

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