Things fall apart

The GlobalCapital Podcast

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◆ Politics panic slaps SSAs, FIG but what of corporate bonds?
◆ EU denied its wish
◆ Introducing Primary Market Monitor
Well, you can't say we didn't warn you. On last week's show we talked about European elections and the likelihood of volatility following the ECB's historic rate cut.

Et voila!

French president Emmanuel Macron's decision to call snap parliamentary elections in the wake of far-right successes in the EU equivalent has caused havoc in bond markets this week. SSA and FIG issuers abandoned deal plans. We discuss which bits of the market are still working, just how bad this bout of volatility is compared to recent times and what new issuance prospects are for the immediate future.

The EU didn't have a vintage week as a borrower either. It priced a successful syndication, though as we discover, it lacked the glossy finish of other deals. Then it was denied access to MSCI's government bond indices. We reveal why this matters so much to the borrower, and the way forward.

Finally, GlobalCapital is about to launch a new data product: Primary Market Monitor. We tell you what it is, what it does and how you can get an early look at it.