Despite the volatility in the global economy, the international value of the renminbi is increasing. But with China's slowing economy and the uncertainty surrounding how much further the country will go in liberalising its currency, how straightforward is the road ahead?
MiFID II: an end to the reign of OTC transactions
December 1, 2011The European Commission has published MiFID II in an attempt to shake up the financial markets. But with the EC's radical overhaul of the framework, how will it affect the over-the-counter derivatives market?
Mitsubishi UFJ-Morgan Stanley joint venture takes shape
December 1, 2011Morgan Stanley's joint venture in Japan with Mitsubishi UFJ Group has been criticised by competitors as a concession to MUFG for its huge investment in the US bank at the height of the financial crisis. However, Jonathan Kindred, CEO of MSMS, one of the companies formed by the joint venture, is adamant that the long-term benefits of the move will prove the critics wrong.
Do speculators help or hinder the commodities markets?
December 1, 2011With global food prices hitting a record high in 2011, debate about the role of speculators in causing these spikes continues to rage. Is the 'financialisation' of commodities markets here to stay?
BAML CIB co-head takes comfort in deal dominance
December 1, 2011Revenues may be down but market share is up for Bank of America Merrill Lynch's corporate and investment banking division. This is giving its global co-head, Christian Meissner, cause for optimism going into 2012, despite the tough markets in Europe and Asia.
2011: goodbye and good riddance?
December 1, 2011From sovereign debt woes to political brinkmanship and the swathe of new regulations hitting banks, the events of 2011 have reverberated across markets and around the world. There have been a few bright spots, not least the growing confidence of local currency debt markets, but overall it has been a gloomy year. Most believe the fate of 2012 lies in the hands of European policy-makers.
Debt capital market volume hits a new low
November 1, 2011In the third quarter of 2011, global debt capital market volume sank to its lowest level since 2008 and the height of the financial crisis. Any hope of a recovery by the end of the year rests with policymakers. Geraldine Lambe reports.
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Is Nomura running out of time?
November 1, 2011With its acquisition of Lehman Brothers' non-US operations, Nomura made an audacious bid to join the global investment banking elite. Little did it know that its bold move would coincide with the worst economic and financial environment for the best part of a century. However, its senior management believe that if they hold their nerve, the gamble can still reap the rewards they originally expected.
EU divided over scope of derivatives regulation
October 3, 2011The European Market Infrastructure Regulation is designed to bring some much-needed stability to the over-the-counter derivatives market, but disagreements about exactly what it is should cover are slowing its progress. It is looking increasingly unlikely that the EU will not meet the G-20 deadline.
Goodbye to FX safe havens
October 3, 2011Global currency markets have become increasingly volatile as European policy-makers struggle to resolve the sovereign debt crisis and emerging economies try to limit currency rises at the same time as taming inflation. Traditional safe haven countries have been prompted to take historic action in a bid to stem currency appreciation and support exports. But are there any safe havens any more?