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
Orange and black is the new black swan
◆ Capital markets' Bloomberg scare
◆ SSAs tipped to go sub-US Treasuries
◆ Jumbos devour credit demand
A blip in Bloomberg's terminal services this week delayed bookbuilding on a number of syndications and bond auctions. It passed with seemingly little harm done. But it did reveal how dependent bond issuance and fixed income has become on the company's platform.
We asked what would be at stake if there was a longer outage and what can be done to prevent major disruption.
Meanwhile, rising US Treasury yields mean SSA bonds are trading at ever smaller spreads over them. It wasn't that long ago that issuers questioned the wisdom of trying to price bonds at a single-digit spread to the US benchmark. This week a German issuer built its biggest every orderbook in the currency with a bond that came at 7bp over — it then tightened to 3.5bp over.
Now the SSA market is wondering if or when an issuer will price through what is supposed to be the world's rick-free benchmark security. We lay out the cases for and against.
Finally, we ask whether the European corporate bond market is running out of steam after one jumbo deal too many, and we also take a look at the bustling market for the riskiest part of a bank's capital stack: additional tier one paper.
