Positive expectations abound
Technicals matter, but the real story will be the return of growth.
There are solid reasons to forecast a positive outlook for global capital markets in 2014. The all-time record new-issue activity seen in 2013 in areas such as US investment-grade corporate debt, US syndicated lending, global high-yield or Asian G3 debt may not necessarily be breached in the forthcoming 12 months, but it is likely to be matched as conditions in the US and across multiple market segments around the world remain highly propitious as the global economy gets into gear and funding levels remain compelling on the back of strong...Read more
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Technicals matter, but the real story will be the return of growth.
Fed and MPC set to pull back on extraordinary measures, while the ECB is ready for more.
Breadth of issuance should mark real progress, not modest increase in volumes
About 54% of outstanding Dim Sum bonds come due in 2014.
The European high-yield market smashed all records last year, and with a little luck it should keep up the pace in 2014.
European legislation is set to increase demand for hybrid issuance.
Creating perfect conditions for the US investment-grade bond market
Focus on increase in M&A after a year dominated by repricing and refinancing.
Banks’ willingness to underwrite is at a six-year high.
Buyouts of US-listed Chinese firms to provide more funding opportunities.
Issuers are likely to look at non-US dollar markets.
Issuers have leeway, but regulator keeping close eye on valuations
Convertible issuance looks set to maintain its momentum and there is the hope for new bank issuance.
After US IPOs reached their highest level since 2000, bankers are hoping to make the most of the fertile conditions.
Banks explore ‘exploding’ bids to avoid block blow up.