Barnier, budgets and other barneys

Send us Fan Mail◆ French bond issuers' tough time ahead as PM fights to get budget through ◆ Trump tough talk on tariffs' threat to emerging markets◆ Investors give IPO sellers the silent treatmentThere are barneys - quarrels to those unfamiliar with British slang - breaking out all over the place and capital markets are caught in the crossfire.In France, prime minister Michel Barnier has a fight on his hands to get his budget passed. It could cost him his job. Meanwhile, French government bond yields are soaring alongside the country's deficit.We look at the dilemma that poses for French issuers in the public sector and covered bond markets through the prism of a deal from one of them this week.Where there's Trump, there's trouble. The US president-elect is threatening tariffs. This could spell disaster for emerging market issuers but, as we discover, panic is yet to set in. We explain why.Our final fight is in the equity capital markets where investors are giving sellers no clues as to their interest in new listings. That makes every deal more risky. We investigate how to break the impasse.