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A fork in the fairground ride
 The old-fashioned roller-coaster is probably the most over-used metaphor in financial journalism. Yet in seeking to describe the volatility of the international capital markets over the last few months none other will do. Although something like stability has returned to the international debt markets over the last two months, few dare to predict it will last. ...more
EMERGING MARKETS:
Tuk tuks take off
Brazil was the bearer of mixed blessings last month. The return of Latin America's biggest borrower to the international capital markets with a Dollars 3bn offering cheered bankers: Brazil's devaluation in January provoked extreme market volatility and its offering was seen as a new chapter. ...more
GLOBAL BOND MARKET:
Teaching grandmother to suck eggs
AT&T, the US telecoms company, turned heads earlier this year when it launched the largest corporate bond ever in an $8.1bn offering. The bond - the latest in a line of increasingly large corporate issues - confirmed the revival of demand for corporate paper in the US dollar market. ...more
RUSSIA:
Tough assets emerge
Last June, George Bush, the former US president, delivered a speech in Moscow in praise of free peoples and free markets and in celebration of the opening of Goldman Sachs's Russian office. Just seven years after the collapse of the Soviet Union, Russia appeared to have found its place on the global capitalist map. ...more
ASIAN BOND MARKETS:
Dragon's pitfalls
It is barely 18 months since the Asian financial crisis began to unfold, and the international bond markets are already welcoming Asian issuers back with open arms - and, more pertinently, lower yields. ...more
EUROPEAN EQUITY SUPPLY:
Spontaneous eruption
With new supply of equities set to reach a record in Europe this year, the mixed success of recent offerings is leaving issuers and their bankers largely unfazed. ...more
PRIVATISATION:
The call of the telecoms industry
The privatisation band-wagon rolls on. There are few countries where the idea of selling state assets is not being seriously considered, and huge progress has been made across eastern Europe and Latin America in the past two years. ...more
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