The GlobalCapital Podcast
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
Episodes
◆ 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 along with the bond market? One of his predecessors, Liz Truss, managed fixed income relations so badly, it cost her her job and m...
◆ 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 path to peace now clearer, issuance conditions have improved. But even this might not be enough to tempt borrowers back to the primar...
◆ 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. The deal was a success but it has taken about a decade to get the product from concept to market.
The question is now where next for ...
◆ 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 class that has been morinund since the 2008 financial crisis. We examine why this market is making a comeback now and what makes it...
◆ 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 president, Nicolas Maduro. The amount of debt involved is expected to be huge but no one outside of Venezuela knows quite how ...
◆ 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 not only are volumes high but the bonds are flying too, attracting large order books, being priced with little if any issue premium ...
◆ 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 issuers of sterling bonds. Prime minister Keir Starmer is under fire from Labour Party colleagues and faces a challenge to his lea...
◆ 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 must apply to some of their securitization holidings caused consternation in the covered bond market this week. Both securitization a...
◆ 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 investigation against him. What could possibly go wrong for Kevin Warsh?
The central question for markets is whether he will have an i...
◆ 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 at the start of the year. But now they are pulling back from new issue syndications. We examine why market volatility resulting f...
◆ 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 in January. That is typically the busiest month of the year and the 2026 edition was particularly successful for issuers. But scr...
◆ 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 are part of a two-week ceasefire, announced on Tuesday, that rejuvenated the primary bond market. We spent much of this week's podca...
◆ 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 sheets and often high credit ratings. But none has come to the market since the war began at the end of February.
With fighting raging and a rec...
◆ 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 central and eastern Europe, the Middle East and Africa.
The Middle East war stopped all sales for three weeks, and bankers were looking ...
◆ 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 consequences the war with Iran is having on bond markets.
Emerging market issuers are among the most susceptible to commodity price vol...
◆ 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 outbreak of the war with Iran, is not unusual. But it is when only one group is steering clear when every other is issuing.
For understa...
◆ 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 banks both local and international have been pouring resources into the region to grab a slice of the action. But the outbreak o...
◆ 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 issuers from the UAE would be removed from its benchmark Emerging Markets Bond Indices (EMBI) by the end of March. We look into what EMB...
◆ 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 the software as a service (Saas) sector. This is causing headaches for Saas businesses looking to do an IPO this year a...
◆ 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 examine which currencies they are looking to raise debt capital with and what is driving them out of the dollar market.
We also ...
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