Euroweek View - Issue 1306, 14 May 2013

BANKS AND BANKERS

• Fixing the reputation of banking — speak up, they can’t hear you in the real world

  It is not just the catalogue of bank misdemeanors that is putting graduates off the industry. The historic inability of banks and bankers to articulate the good they can do is as much to blame.  read more »

BAIL-IN

• Co-op is another reminder of bail-in risk

  Moody’s sudden downgrade of Co-op Bank gave investors a very nasty shock, turning their senior debt into junk in one fell swoop. Bankers insist that this is an isolated case — but in reality it shows that investors are ignoring bail-in risk.  read more »

CANADIAN DOLLARS

• SSAs are missing a trick in Canadian dollars

  The Canadian dollar has been out of favour with SSA issuers since the crisis, with issuance still meagre compared to 2007. Local investors remain focused on local public sector issuers. But a spate of fresh deals in the currency offers issuers some encouragement. They should ignore the locals — it’s an international market, after all.  read more »

EMERGING MARKET BONDS

• Petrobras: it’s a record, but it proves what we already knew

  For all its record-breaking size, Petrobras’s $11bn bond has set surprisingly few hearts racing. Bankers hardly seem shocked by the scale of the deal. It simply confirms what many people already suspected EM was capable of.  read more »

INDIAN IPOS

• Retail refund needs a rethink

  The Indian market regulator has intervened in the normal functioning of markets once too often. Its latest wheeze is nothing short of crazy.  read more »