Latest articles from Capital Mkts

Search for safety feeds inflation derivatives market

February 3, 2004

Inflation is once again being discussed and inflation-linked instruments have stepped back into the spotlight. Natasha De Teran finds that derivatives have as much of a role to play as inflation-protected securities.

Securitisation rules, okay?

February 3, 2004

Securitisation is dead, long live covered bonds – that would be one interpretation of events in the capital markets driven by the onslaught of Basel II and IAS 39.

Investment banks in hot water... again

February 3, 2004

What Eliot Spitzer was to Wall Street, the Stuttgart private law firm Binz & Partners may now be to Finanzplatz Deutschland – the instigator of a legal process that calls investment banks and company executives to account but raises the question of whether this is the best way of doing it or merely the most politically exciting.

Bob Diamond

January 5, 2004

Barclays Capital’s CEO explains how proving itself in Europe is an ideal platform for building its US business. By Geraldine Lambe and Brian Caplen
When Barclays Capital CEO Bob Diamond was passed over for the top position at Barclays last October, there was a lot of media speculation that if a good offer came from another firm, he would be happy to jump ship. Mr Diamond’s rebuttal is adamant and he says his “enriched mandate” to combine the wholesale and institutional businesses gives him a good enough reason to stay.

US ready for increase in OTC derivatives appetite

January 5, 2004

Europe has become the home of OTC derivatives innovation but, as Natasha de Teran reports, European houses are gearing up for a predicted upswing in demand on the other side of the Atlantic, and will give US firms a fight on their own turf.

A long line of firsts

January 5, 2004

Timing conspired to line up three back-to-back, ground-breaking deals for Merrill Lynch’s Financial Institutions Group, allowing it to clinch 10 firsts in three markets within five days. Geraldine Lambe reports on the team’s many reasons to celebrate.

Parmalat dive reveals failures over financial disclosure

January 5, 2004

Parmalat’s fall from grace in December indicates inadequate disclosure by the company – at best. The markets are spooked and the company’s five-year spreads have widened to 2408.8 basis points. Geraldine Lambe reports.

Widget swapping makes sense

January 5, 2004

In this “conservative” economic recovery, the last thing any CEO relishes is a mega merger.

Back in the shop for Christmas

January 5, 2004

Still M&A bankers can always look to Germany, where the long-awaited consolidation now seems imminent. However, those who were speculating on a Citi/Deutsche deal obviously were not listening to Citi CEO Chuck Prince, who had already said that the bank was more likely to do fill-in deals (witness the Washington Mutual deal) than transformational ones.

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