The GlobalCapital Podcast

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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 gossip.GlobalCapital is written for capital markets professionals but the podcast is of value to anyone with an interest in the industry, whether you have been working in it for as long as we have, or are looking to make your first career move into it.This podcast is a commute-sized slice of everything that's most interesting from the world's capital markets with the aim of helping you sound smarter in your morning meeting, or making you stand out from the crowd of other hopefuls when kick-starting your career.And don't forget, you can #AskGC anything you like and we will select the best questions to answer on the show.Contact us at podcast@globalcapital.com

  1. 4d ago

    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 November 3. Issuers have been adjusting their borrowing tactics all year to avoid being in the market at what could be a turbulent time. We discuss what sort of primary market public sector bond issuers might be facing once the election passes. Another US event with global influence is the fortcoming IPO of Anthropic. It could turn out to be the largest listing in history. We examine how global investors are preparing for the deal and the effect that is already having on equity issuance in the EMEA region. Finally, we looks at some of the key elements of the provisional agreement on EU securitization reform agreed between the Council of the European Union, the European Parliament and the European Commission. This is a long-running saga aimed at making the market a more potent method of stimulating growth in the EU economy. We discuss whether the reforms are likely to achieve those aims and what they mean for the growth of European securitization. GC Live: At the threshold of a digital bond market GlobalCapital is hosting its second annual briefing on the digitalisation of the bond market next week in London. If you're an issuer or an investor you can come for free and listen to off-the-record discussions between the people leading this initiative from central bankers and government officials, to investors, bankers and bond issuers. The event takes place in the morning, too, meaning you will be able to get back to your desk by lunchtime. The only way to hear what is said is to be there. Now read on: SSA market fears ugly hangover from US mid-terms Anthropic’s mammoth IPO starts to suck air out of EMEA market EU's ABS reform marathon ends with mixed bag of prizes for investors

  2. Oct 23

    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 the travails of a volatile bond market in euros. But there are plenty of disruptions in the coming weeks, not least the US mid-term elections, that could seal off access to attractive dollar bond funding. We examine the prospects for both core funding markets for this group of issuers. We also discuss the future of Islamic securitization after Strideup priced its second residential-mortgage backed deal. We delve into what this issuance means for a burgeoning asset class, where the next deals may come from and what form they might take. Finally, we look at the repricing unders way in Europe for bank bonds. We uncover the difficulty this is causing for issuers looking to raise debt and how they are overcoming it. Now read on: ‘Tricky’ pricing conditions in euros drive SSAs into dollar market for ‘last hurrah’ StrideUp clears the path for more Sharia-compliant securitizations Euro FIG market reprices as conditions worsen

  3. Oct 16

    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 jamboree meets away from Washington, DC with Thailand this year's destination. GlobalCapital sent two of its best to the Thai capital to see what is being discussed inside and outside the conference as we published GlobalMarkets, our sister publication produced especially for the Meetings — and free to read for everybody. On the podcast, we discuss the IMF's optimism about AI's future impact on productivity, the looming global jobs shortage, and a new tool for multilateral development banks designed to give them more financial firepower.  Meanwhile, we take a read of what bankers and issuers from the bond market are thinking about in their own discussions in Bangkok, including how they are conducting business in the Middle East in the midst of the Iran war and what they are making of NatWest's recent decision to pull out of most of its primary dealerships. Now read on: IMF urges countries to squeeze deficits as debt costs mount Contingent capital facility unveiled that could square MDB capital circle Contingent capital will be measured against phalanx of MDB innovations

  4. Oct 9

    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 market pain is spilling over into other asset classes. We discuss just how far the pain will spread. France isn't the only country with rising yields and borrowing needs, however. So NatWest Markets' decision to give up all of its primary dealerships except for the UK triggered much discussion about whether sovereign issuers are engaging in the right way with the banks that support their bond issuance. We discuss the costs of being a PD, and the cost to the issuer when its dealers quit. Finally, plenty of initial public offerings are going through the market but there is a growing sense that issuers waiting in the wings are running out of time to come to market. We look ahead to the pipeline of deals. Now read on: Fear of OAT contagion spreads to credit markets NatWest exit reignites primary dealership viability debate (free to read) Too much of a good thing Busy week of IPOs cannot hide slipping timelines

  5. Oct 2

    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 primary bond market in the weeks to come. Meanwhile, in the run-up to the IMF/World Bank Annual Meetings in Bangkok later this month, we looked at how the political situation in Argentina and Brazil are developing, what it means for their economies and how it might affect their bond market access. Brazil has an imminent presidential election. The winner — either the incumbent Luiz Inácio Lula da Silva, or right-wing challenger Flávio Bolsonaro — faces the task of tackling the country's budget deficit. We discuss what investors have told us about their views on the possible outcomes. There is no imminent election in Argentina, however, where president Javier Milei has been invoking economic reforms. Are the reforms going to be enough to hearld the return of one market's most notorious defaulters back to bond issuance? Finally, we discuss the impact of El Niño. The weather phenomenon, which forms over the Pacific Ocean, can have far reaching consequences for the rest of the planet, and that may have ramifications for the bond market.

  6. Sep 25

    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 yields higher everywhere. The OAT-Bund spread was knocked right off the pitch, to 113bp. Unfortunate timing for French banks and companies, which were busy packing in all the funding they could before negotiations over next year’s national Budget begin in October — an event that has been glowing red on the risk events calendar all year. Too bad the risk came early. Private sector issuers are still welcome in the market, though they are paying up a little over non-French names. But the louder political crisis gets — and it is sure to get very loud during next April’s presidential election — the more French borrowers will be emphasising to investors how much of their business activity is actually outside France. A freakier result of this year’s weird rates patterns has been the flowering of sterling floating rate notes. This ancient instrument has been gathering dust at the back of the toolshed for years, but was rediscovered by supranational issuers last year and in 2026 is positively glamorous. Two supranationals that had never issued an FRN linked to Sonia and one that hasn’t for seven years have brought deals in the past week.

  7. Sep 18

    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. Gulf issuers were glad to raise cash quietly in these private deals and paid handsomely to do so. Now these bonds are causing them headaches.  The issuers, especially banks, want to come back to the public market and raise fresh money. With their paper hardly scarce, it looks like they might have to pay up all over again. For Europe’s bank and corporate issuers, spreads have been incredibly stable and tight, even as interest rates seesawed all over the place. Now new issues are feeling the pinch a little. Over the last three weeks, there has been a decided increase in new issue premiums. We explore the drivers and whether it matters. For years, CLOs have subsisted on a diet of yesterday’s mashed potatoes. Fresh leveraged loans were rare — instead they had to buy warmed-up repricings and refinancings of old deals. Equity returns have withered.  At last, there is some good news for CLO managers — a raft of new loans is heading to market, including InPost and Nestlé Water.

  8. Sep 11

    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 from the US. Is there a parrallel with the European corporate bond market we wonder, given the vast amounts of US corporate bond issuance taking place this year in euros, sterling and Swiss francs? US borrowers are set to push Reverse Yankee bond issuance to record volumes this year, causing a worry that their investor-friendly pricing approach will hurt the funding costs of Europe's domestic companies, or may even start to crowd them out of the market. We discuss the dynamics in the primary bond market and what the omens are for European credits with a hefty Reverse Yankee pipeline still to come to market this year. Another group of issuers that might not be getting it all their own way in the bond market is MIddle East banks. Despite having issued little senior debt so far this year, thanks to the Iran war, the signs were when issuance resumed this week that demand was not overwhelmingly good. There is no sense that this group of issuers cannot raise capital in the bond market but the level of demand is very different to what it was. We look at why that is and what it means for the pipeline of bonds to come. We also discuss UK equity capital markets. Participants have cheered some recent structural and regulatory changes but they do not seem to have been enough so far to trigger more initial public offerings. We discuss what the government and others need to do to make the UK's public equity market as vigourous as a grey squirrel. Now read on:  Gulf banks crowd into bond market to build safety buffers Reverse Yankee onslaught casts shadow over booming corporate bonds Don’t fear the Reverse Yankees (FREE TO READ) 'The elephant not in the room': timid UK equity investors

    Squirrel on squirrel violence
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About

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 gossip.GlobalCapital is written for capital markets professionals but the podcast is of value to anyone with an interest in the industry, whether you have been working in it for as long as we have, or are looking to make your first career move into it.This podcast is a commute-sized slice of everything that's most interesting from the world's capital markets with the aim of helping you sound smarter in your morning meeting, or making you stand out from the crowd of other hopefuls when kick-starting your career.And don't forget, you can #AskGC anything you like and we will select the best questions to answer on the show.Contact us at podcast@globalcapital.com

Information

  • Creator
    GlobalCapital
  • Years Active
    2021 - 2026
  • Episodes
    267
  • Rating
    Clean
  • Copyright
    © 2026 The GlobalCapital Podcast
  • Show Website
    The GlobalCapital Podcast

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