The GlobalCapital Podcast
by GlobalCapital
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
Episodes
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How the US mid-terms and Anthropic are disrupting global capital markets
Send us Fan Mail ◆ SSA bond market braces for Trump poll response ◆ Jumbo IPO already 'sucking air' out of EMEA equity capital markets ◆ EU securitization regulation reform enters final phase The biggest scheduled political event of the year is finally at hand — the US mid-term elections, set for...
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Issuers battle to wrap up funding amid disruption but Islamic RMBS evolves
Send us Fan Mail ◆ Is the dollar funding for SSA issuers about to fizzle out as quickly as it reappeared? ◆ Islamic securitization leaps forward ◆ FIG market repricing havoc for issuers A spate of dollar benchmark issuance for supranational and agency issuers has given them welcome relief from…
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The best from Bangkok
Send us Fan Mail ◆ The inside track from the IMF/World Bank Annual Meetings ◆ AI's future economic impact and MDB capital debated ◆ Middle East capital markets This week the IMF/World Bank Annual Meetings get underway, this year in Bangkok. Every three years this global finance and development...
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Is France just the hors d'oeuvre?
Send us Fan Mail ◆ Credit market wakes up to France debt risks ◆ NatWest resurrects primary dealership dilemma ◆ IPOs are go but time running out Credit markets are adapting to the growing pressure on French government bonds as the country grapples with its public finances. The signs are that OAT...
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Bad weather for bonds
Send us Fan Mail ◆ Issuers reconsider plans after bonds plunge ◆ Argentina, Brazil and the bond market ◆ Anticipating El Niño's impact on credit Bond markets stumbled on Thursday, throwing into doubt issuers' plans for the weeks ahead. We examine what is happening and how it will affect he…
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I’m not *that* French
Send us Fan Mail ◆ OAT rout puts French borrowers in awkward spot ◆ Sterling FRNs: a popular underdog ◆ Emerging market secondary bonds lose relevance French government bonds got bodied by this week’s global sell-off, as France-specific fears spiked the already heady cocktail of alarms driving...
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Friendship has limits
Send us Fan Mail ◆ Gulf private placements bite back ◆Price to issue bonds rises ◆ CLOs catch a break Gulf sovereigns and banks have raised billions with large, privately placed bonds since the US-Iran war began. Now the friendly, accommodating investors that bought them are starting to sell.…
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Squirrel on squirrel violence
Send us Fan Mail ◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets The plight of the red squirrel, native to the UK, is well known — pushed out by the chunkier, more vigorous grey variety imported...
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The mysterious case of the disappearing investors
Send us Fan Mail ◆ Solving order book attrition in the corporate bond market ◆ Signs of trouble in the tech debt boom ◆ The task before the EU's two newest chief regulators The rate at which investors are dropping out of order books in Europe's corporate bond market when issuers tighten the…
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Banks not getting it all their own way in primary market
Send us Fan Mail ◆ Covered bond issuers take stock as pipeline threats loom ◆ Caution creeps into FIG market ◆ What triple-A ratings for Italian ABS mean for banks, securitization and the credit rating industry The primary bond market has been characteristically busy for the last two weeks with...
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The Middle East and corporate bond pipeline
Send us Fan Mail ◆ Predictions for Gulf issuance change shape again ◆ Investment grade firms to pick tricky path through autumn ◆ The Alphabet effect: hyperscalers hit Kangaroo market Middle East borrowers, especially the big sovereigns, have mostly kept away from the public bond market since the...
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Record temperatures, record bonuses
Send us Fan Mail ◆ Have capital markets comprehended the heatwave? ◆ Which SSA issuers need to get it done this autumn ◆ Halcyon days for MTN, M&A and ECM bankers Heatwaves and wildfires are dominating the news but the capital markets seem barely to have noticed. We discuss how the bond and...
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All eyes on the hyperscalers
Send us Fan Mail ◆ Europe's corporate bond market braces for US tech issuance surge ◆ Canada makes move for EU regs equivalence but to what end? ◆ Middle East private placements here to stay... but will take up less room Europe's corporate bond market is fretting over increased bond issuance from...
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Another ABF lender collapses, development banks max out private placements
Send us Fan Mail ◆ The collapse of another specialist lender hits asset-backed lending but why it's different this time ◆ MDBs ramp up private funding ◆ No greenium but European banks happy to print more ESG labelled debt Barely six months after the controversial collapse of Market Financial...
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The bully of the curve
Send us Fan Mail ◆ Oil trumps politics ◆ Kuwait scores late winner ◆ How to save Thames Water harmlessly The three month euro/dollar basis swap was traditionally called the bully of the curve because it controlled the rest, but there is no doubt who’s the boss now — dirty old oil. As the US and...
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The meaning of a basis point
Send us Fan Mail ◆ Greenium reappears in unlikely place ◆ US banks splash out ◆ Is that all I’m worth? ◆ Cantor is coming A basis point might always be the same quantity, but is it a lot or a little? It depends whom you ask, and when. For supranational, sovereign and agency bond issuers in the...
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Banks beefing up buy-backs as sterling market anticipates bright future
Send us Fan Mail ◆ Clean-up calls set to change how banks manage senior debt ◆ The Bank of England's SSA bond booster ◆ What is behind booming corporate bond issuance in sterling A lot of expensive bank bonds, issued when rates and inflation were high and spreads wide, have call dates coming up,...
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Brewing a bromance between Burnham and bonds
Send us Fan Mail ◆ How UK's likely next PM can woo the bond market ◆ Fibre ABS coming to Europe ◆ The rise of the corporate Kangaroo Andy Burnham looks set to become the next UK prime minister, following the resignation of Keir Starmer on Monday. But how will the new man in 10 Downing Street get...
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The waiting games: ME issuance, digital capital markets and French covered bonds
Send us Fan Mail ◆ Iran peace deal in sight but where are the Middle East issuers? ◆ Why primary capital markets will be slow adopters of DLT ◆ Why French covered bond issuance has slowed and why it might pick up The Iran war has kept the Middle East's bond issuers largely at bay but with the…
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The ESN has landed
Send us Fan Mail ◆ What now for European Secured Notes ater long-awaited debut? ◆ The mood in European securitization amid MFS fallout and reg reform ◆ Digitalisation of bond market is up to the regulators Bpifrance achieved a world first this week, pricing the inaugural European Secured Note.…
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Two comebacks and a pull-back: credit card ABS, insurance tier two and SSA bonds
Send us Fan Mail ◆ Credit card ABS grows as securitization sets off for Barcelona ◆ What can scupper insurance tier two spree ◆ SSAs appear unwilling to test Treasury spread record A deal from Vanquis Bank, a securitization of credit card receivables, is the latest deal in a revival of an asset...
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Par from the Maduro crowd?
Send us Fan Mail ◆ Venezuela embarks on historic debt restructuring ◆ Canada suggests covered bond boost ◆ European Secured Notes are here. Regulate them Venezuela's debt restructuring is getting underway, nine years after the country defaulted and just months after the US removed its former...
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SSAs and US Treasuries: crossing the final frontier
Send us Fan Mail ◆ Supranationals and agencies prepare to achieve the previously unthinkable ◆ Leveraged loans versus private credit and their effect on CLOs ◆ A new dawn for dollar covered bonds and UK equity market structure Bond issuance from supranational and agency issuers is rampant. And…
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Starmer, strife and sterling bonds
Send us Fan Mail ◆ The prospects for sterling bond issuance amid UK political upheaval ◆ A new issuer and a new securitization from the SSA sector ◆ Ontario's plans for a resilience bond The mice turned on the cat in UK politics this week, causing volatility in the bond market and a headache for...
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Justice for covered bonds (and securitization)
Send us Fan Mail ◆ EU regs plan sparks debate over treatment of secured borrowing ◆ Blistering corporate and FIG issuance but why are premiums rising in one market but not the other? ◆ UK Renters' Rights Act to impact UK buy-to-let RMBS market Plans to change the capital risk-weightings banks…
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The outbreak of Warsh
Send us Fan Mail ◆ Powell Fed era ends with split decision ◆ Bank capital to lead Gulf bond revival ◆ SSAs, corporates and FIG face busy May President Trump appointed Jay Powell as Federal Reserve chair — then hounded him continually to ease monetary policy and ended up launching a criminal...
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The fast and the dubious
Send us Fan Mail ◆ Fast money reverses out of SSA bond market ◆ CLO managers face risky ramp startegy ◆ Corporate hybrid bond market runs hot despite volatility The rise of hedge funds as dedicated investors in the supranational and agency bond market was one of the biggest changes in that sector...
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What it takes to break issuance records in volatile markets
Send us Fan Mail ◆ Dazzling feats of issuance in public sector bond market but signs of wariness persist ◆ How banks have derisked May issuance ◆ Corporate bond investors stick around So many bond issuance records tumbled in a busy week in the primary market that to some it felt like we were back...
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How bond issuers will take advantage of Iran ceasefire
Send us Fan Mail ◆ Gulf issuers turn to private markets ◆ Public sector and corporate borrowers to bring forward plans ◆ Banks re-enter covered and unsecured funding markets US vice-president JD Vance set off on Friday for Pakistan (pictured) for peace talks to end the war with Iran. The talks…
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The Gulf’s banks get ready for recession
Send us Fan Mail ◆ Middle East capital securities will need to be refinanced ◆ Supranationals, agencies and municipalities have had a good war ◆ New ideas to promote covered bonds The central group of bond issuers in the Middle East are the banks. They are well capitalised, with clean balance...
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News from the frontier: Africa leads emerging market bond revival
Send us Fan Mail ◆ Outsiders open EM investors’ wallets ◆ European banks let their hair down in dollar market, still shy in euros ◆ Digital innovation in Frankfurt with DZ Bank Angola and African telecom company Helios Towers were hardly the issuers anyone expected to restart bond issuance from...
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The dollar dilemma for public sector bond issuers
Send us Fan Mail ◆ What strikes on energy infrastructure in the Middle East mean for emerging market bonds ◆ Why issuing in dollars has become so dicey for supranationals and agencies ◆ Europe's advantage in the private credit metldown This week we looked into some of the direct and indirect...
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Banks may be shut but Amazon delivers
Send us Fan Mail ◆ Hyperscaler sets new standard for European corporate bond market ◆ What it will it take to get a bank to issue in euros again ◆ Iran war could reshape ultra-competitive Gulf capital markets For bond issuers to keep away from the primary bond market after a shock, like the...
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The future of the Middle East bond market
Send us Fan Mail ◆ How banks and bankers are operating in the region under threat of military escaltion ◆ Bond issuance to resume — but how? ◆ Dwindling fee pool poses questions over long-term future for banks The Middle East bond market as been one of growing volumes for the last decade and…
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Abu Dhabi, Blue Owl and bridging lenders
Send us Fan Mail ◆ UAE issuers leave emerging markets lable behind ◆ What Blue Owl can teach about private credit for the masses ◆ A bump in the road for UK bridging lenders on the way to securitization Abu Dhabi was in the bond market this week just two days after JP Morgan confirmed that…
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Software update: AI Saas scare haunts capital markets
Send us Fan Mail ◆ How AI threat to software biz threatens stockmarket listings... ◆ ... and collaterlised loan obligation market ◆ AT1 market hits new record tight but buyers turn away Investors are wary that recent AI upgrades — notably Anthropic's latest Claude Cowork agent — are a threat to…
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Pod 'sell America'
Send us Fan Mail ◆ Why emerging market issuers are doing less in dollars ◆ Republic of Congo — located between rock and hard place ◆ The GlobalCapital Podcast was brought to you by the numbers 17, 100 and the whole Alphabet Emerging market issuers are diversifying away from dollar funding. We...
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New tricks for old dogs and 'fishing with dynamite'
Send us Fan Mail ◆ Bond auctions get the fintech treatment ◆ Oracle shows how to fund AI capex with bonds ◆ Banks plough on in bonds despite weaker markets There's nothing new about auctioning bonds as a means to distribute them but this week, fintech BondAuction was involved in a deal for The...
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What is Scotland?
Send us Fan Mail ◆ Scottish government bonds near ◆ CLOs and private credit ◆ Corporate hybrid debt reaches new tights Scotland is looking for banks and lawyers to help bring its first bond to market. But the idea raised a number of questions at GC Towers this week. Firstly, what is Scotland? Is…
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Defence stocks, Ukrainian bonds, fear and Fomo in investment banking
Send us Fan Mail ◆ CSG's IPO and the rampant investment for defence companies ◆ Ukraine issuer back in bond market ◆ Fomo sapiens: investment bankings most joyless Money is pouring into defence, both from government budgets and from investors in the capital markets. The IPO of Czech defence...
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Fast money slows down to take on SSA bonds
Send us Fan Mail ◆ Public sector issuers embrace hedge fund bid... ◆ ... as they flex in the swap market ◆ Car makers welcomed back to bond market Allocating more of a new issue to hedge funds has long been something SSA issuers have only done if they absolutley needed to. But that is now…
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'Nameless dread' and the blockbuster bond market
Send us Fan Mail ◆ What has driven this week's record issuance and what might threaten sentiment ◆ Why the Maduro affair is a wake-up call for the EU ◆ Resolving Venezuela's debtberg After a rip-roaring start to the bond market this week, we take a look at just how good it is for issuers and what...
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GlobalCapital's Review 2025 | Outlook 2026 podcast
Send us Fan Mail ◆ Data centres: crunch time for Europe's capital markets ◆ How AI is changing capital markets work... ◆ ... and hiring It is no secret that data centre financing will be an increasingly important part of the capital markets in the years ahead. But this week we discuss why it is...
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ECB baffles bank bond market by mulling AT1 abolition
Send us Fan Mail ◆ Simplification plans boggle bank boffins ◆ Hungry, hungry hyperscalers to push utilities into bond market ◆ A loan in the sand: private credit jostles for place in Middle East debt markets On last week's episode we discussed how the ECB was preparing to recommend…
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Rewriting the rules for private credit and banks
Send us Fan Mail ◆ Private credit and equity to come under oversight for first time... ◆ ... as Bank of England eases burden on banks... ◆ ... amid global shift to lighten up on lenders, with ECB expected next Alternative asset managers will finally come under the Bank of England's scrutiny, the...
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A tale of two capital markets
Send us Fan Mail ◆ UK government guns for growth but did it miss? ◆ French fancy: FIG in favour again ◆ Pandas and Wontons with the AIIB After months of speculation, the UK government delivered its Autumn Budget this week. The country may have felt like it has been through the worst of times but...
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Banks, bonuses and the Budget
Send us Fan Mail ◆ Are investment bank bonuses going up this year, and when does everyone get paid? ◆ How the UK government's 'binary' Budget is affecting bank bond issuers ◆ Legal pressure builds on MDBs to reassess climate impact The UK government's Budget announcement next week has been the...
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Reining in private credit, AI capex looms over bonds and defence label flaps wings
Send us Fan Mail ◆ Private credit, banks or securitization — which one is regulated too lightly? ◆ How AI capex will affect Europe's bond market ◆ What do defence bonds achieve? Two senior UK bankers were in the House of Lords this week pleading for lighter regulation in the face of competition...
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US companies light up Europe's bond market as exchanges revise IPO playbook
Send us Fan Mail ◆ Why Europe's corporate bond market is on a roll ◆ Reverse Yankees, hot hybrids and huge size with more to come ◆ Europe's stock exchanges' attempts to drum up more IPOs Market participants had expected this week to be a busy one for euro and sterling investment grade corporate...
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Thought for pause: how bond markets can help after a hurricane
Send us Fan Mail ◆ Pause clauses could add to disaster arsenal ◆ KfW CEO Stefan Wintels on bond digitisation ◆ What ESG backlash? Banks ramp up green bond issuance As Hurricane Melissa ripped through the Carribbean this week, the bond market had a part to play in helping Jamaica fund its recovery...
About this show
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
Hosted by
GlobalCapital