The GlobalCapital Podcast
A weekly podcast from GlobalCapital, the capital markets news service based in London and New York, discussing its most interesting stories from around the world.
Every Friday, listen to lively discussion about the very latest themes, the most innovative and important bond and equity issues and syndicated loans and much more from the capital markets.
This podcast is for anyone working in - or who wants to work in - the capital markets from investment bankers, to funding and treasury officials, investors, lawyers, analysts, NGOs and lobbyists, regulators and policy makers, and analysts.
GlobalCapital has been the "voice of the markets" for over 35 years, covering bond, loan, equity and securitisation markets around the world.
We cover everything from public sector bond issuers, financial institutions, emerging markets and investment grade corporate bonds and loans to securitisation (including CLOs and ABS), regulation and market news as well as industry gossip.
GlobalCapital is written for capital markets professionals but the podcast is of value to anyone with an interest in the industry, whether you have been working in it for as long as we have, or are looking to make your first career move into it.
This podcast is a commute-sized slice of everything that's most interesting from the world's capital markets with the aim of helping you sound smarter in your morning meeting, or making you stand out from the crowd of other hopefuls when kick-starting your career.
And don't forget, you can #AskGC anything you like and we will select the best questions to answer on the show.
Contact us at podcast@globalcapital.com
The GlobalCapital Podcast
Putting numbers on the defence borrowing hole
◆ EU puts forward €800bn plan◆ Germany screeches into U-turn on debt brake ◆ Bund yield soars 40bp
The spectre of European countries needing to massively increase spending on defence has haunted the capital markets ever since it became clear that US president Donald Trump was really thinking of drastically weakening US military support to Europe.
It had already triggered a sell-off in European government bonds. But this week a vague expectation got some concrete numbers. Germany’s CDU, likely to lead the next government, has turned 180° and struck a deal with the SPD to make huge exceptions to the constitutional debt brake, including €500bn for infrastructure.
Germany’s 10 year bond yield made its biggest leap for decades on Wednesday, but then stabilised, suggesting the market now knows how big the issue is and can digest it.
Meanwhile the EU has also got on the front foot, announcing an €800bn ReArm Europe plan including €150bn of new joint borrowing.
We explore the results for the supranational, sovereign and agency bond market and for central and east European governments, where the security and fiscal concerns are keenest.
