Tuesday 4th August 2015
NEWS TICKER, Tuesday, AUGUST 4TH: US bond markets expect a $900m issue from the Metropolitan St. Louis Sewer District as early as next year after its rate commission voted yesterday to back the district’s plan to tap the markets. The bonds will continue financing a $4.7bn capital program required by the Environmental Protection Agency (EPA) to keep sewers in St. Louis and St. Louis County from regularly overflowing into area creeks and rivers. Already, the district has put $600m toward sewer projects in St. Louis and St. Louis County. MSD customers can consequently continue to expect annual sewer bill hikes each summer. In 2012, the average customer paid $29 monthly. This month, bills rose to an average of $41. After this bond issue, the monthly sewer bill will cost the average household $61 by 2019 - JP Morgan has hired Lebo Moropa, giving the bank its first dedicated prime brokerage and equity finance presence in South Africa, reports Securities Lending Times. Former HSBC trader Moropa has joined the bank in Johannesburg and will focus on synthetic and cash prime brokerage and securities lending, including delta one and will report to Paul Farrell in London. Moropa was a delta one trader at HSBC and has worked for JP Morgan before– Apulia Finance has informed the Luxembourg Stock Exchange of its intent to issue a securitised paper, backed by residential mortgage loans originated by Banca Apulia. The issue date is August 6th and the deal is lead managed by BNP Paribas who is also joint arranger with Finanziaria Internazionale Securitisation Group. Swap counterparty in the transaction is Canadian Imperial Bank of Canada and the clearers are Euroclear and Clearstream. Funding is at three month Euribor with a spread of 0.40% before the step up date and 0.80% after the step up date. The deal is worth a combined €170m of which €153m are Class A asset backed floating rate notes due 2043; €6.79m Class B asset backed notes and €9,84m are Class C asset backed floating rate notes – all due 2043.

Editorial

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FTSE Global Markets provides 360 degree coverage of the global investment markets. From the decision to allocate assets to particular markets or sectors and the buying of those securities through trading, clearing and settlement and to custody and administration of the assets in a portfolio, FTSE Global Markets provides detailed coverage of the entire cycle.

Moreover, the magazine provides insights into the market trends and institutions that drive this cycle, making it an invaluable one-stop shop for both the buy side and the sell side active in global investment.

If you read FTSE Global Markets over the year you will be provided with a detailed, yet succinct and apt high level overview of all the important market trends and developments. As liquidity continues to shift around the globe and smart money moves from one asset class to another, FTSE Global Markets is there to anticipate, record and report on investment trends, flows and new products.

Alternative investments:

Hedge funds, real estate and private equity are covered regularly, looking at capital inflows and investment returns and investment strategies.

Capital Markets:

The magazine looks at benchmark issues, arrangers and advisors, new issuance trends and regional developments in both the equities and debt markets.

Collateral Management:

One of the rising business segments in the evolving financial markets. We keep investors informed of the key regulatory requirements and ways in which collateral can be optimised across multiple asset and product classes.

Commodities:

whether you specialise in hard or soft commodities, we explain current trends and their implications for strategic investors. We also look at different ways investors gain exposure to key commodities and manage risk.

Equity Trading:

Each month we look at trading strategies, service innovations and new and evolving trading venues.

Derivatives:

Effective risk management involves the use of derivatives. Each month we look at the ways in which investors utilise derivatives either as investments or risk management tools.

Foreign Exchange:

The main trading pairs and rising reserve currencies are regularly covered.

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Roundtables:

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Sector Reports:

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From custody and fund administration to more arcane services such as securities lending and transition management, the magazine covers the gamut of asset servicing provision. Avoiding the myriad rankings of securities services providers, the magazine focuses on new services provision and important market trends. We also look at costs and ways in which the buy side can ensure they achieve cost effective support across the globe.

 

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