Banking

  Bloomberg Bank of Montreal’s (BMO) capital-markets unit was the top arranger of initial public offerings (IPOs) in Canada in 2022, eking out two significant deals in a year when plunging equity prices all but froze the market for companies seeking to sell shares for the first time. Canadian companies undertook 112 IPOs with a total value of C$1.82 billion ...

Bloomberg Passing the peak in European inflation may be good news for consumers, businesses and central bankers, but it’s too soon to sound the all clear. Reports have shown price gains from Germany to Spain easing more than economists expected in December after natural-gas costs retreated and government aid kicked in. Those falls, however, mask intensifying pressure in gauges that ...

  Bloomberg China extended trading hours for the onshore yuan as it attempts to internationalise the currency, but the move was met with tepid response with only a few local banks equipped to participate during those hours. The dollar-onshore yuan trading volume during the extended hours, totalled $128 million on the first day, according to China Foreign Exchange Trade System ...

  Bloomberg Few major currencies stand to lose out as much from the yen’s comeback as the British pound this year. Investors have been dumping sterling on the view that a weakening UK economy will prevent the Bank of England from being as hawkish as its counterparts in the rest of the world. The difference is most pronounced when compared ...

  Bloomberg The year ahead will be better for European stocks than many think as inflation peaks and rates normalise, according to a Deutsche Bank AG strategist. “Although earnings are likely to fall in 2023, fewer macro risks and lower rate volatility should be supportive for equity markets,” Maximilian Uleer wrote in a cross-asset outlook note. Consensus is “overly pessimistic ...

  Bloomberg Citigroup Inc has trimmed India’s current account deficit forecast for the current financial year ending in March, after services exports grew unexpectedly and oil prices moderated. The shortfall in current account, the broadest measure of trade in goods and services, will probably be at 2.9% of gross domestic product, according to Citi’s India economist Samiran Chakraborty. That is ...

  Bloomberg Rupee-denominated bond sales are set to grind to a halt in a few days as India’s government upgrades an online portal used by companies to file regulatory documents. Starting from January 7, the Ministry of Corporate Affairs portal will be unavailable for companies to file a so-called PAS-3 form, or “return-of-allotment” form, as the administration migrates to a ...

  Bloomberg The Bank of Japan’s (BOJ) decision to double its 10-year yield ceiling was meant to improve market functioning. So far it’s triggered even heavier intervention from the central bank, threatening to reduce liquidity further in the local bond market. The BOJ announced a fourth day of unscheduled bond buying, offering to buy unlimited amounts of two- and five-year ...

Bloomberg The yen advanced to a six-month high versus the dollar as Japan’s decision to raise its bond-yield cap last month stoked bets the nation may tighten policy even more. The currency appreciated as much as 0.8% to 129.79 per dollar, surpassing the level of 130.41 set in August, and reaching the strongest since June. Gains were exacerbated due to ...

  Bloomberg Bank of Korea (BOK) Governor Rhee Chang-yong said the central bank will do its best to coordinate policy with the government to ensure the economy has a soft landing at a time when the country faces an array of headwinds from falling exports to a weakening property market. The BOK will monitor financial and foreign exchange markets closely ...