The DESK’s Risk & Return is the single channel for issuers and investors to access data, research, legal advice and credit rating information to support issuance and investment in debt via the primary market.
INSIGHTS & ANALYSIS
Insights & Analysis: Man Group quants qualify today’s economic regime
Amara Mulliner, a quant researcher at Man AHL and University of Cambridge economics graduate, and her colleagues have proposed a new way to qualify economic regimes, based on matching studied conditions with historical resemblant...
ORIGINATION
Origination: SocGen’s Sogecap issues €800 mil in perpetual notes
Societe Generale’s life insurance company Sogecap has issued €800 million in restricted Tier 1 perpetual notes.
Perpetual notes have no maturity date, and are non-redeemable. For issuers, this vehicle allows for a lower upfront coupon...
INVESTOR DEMAND
Investor Demand: China expands mainland investor access to Southbound Bond Connect
China has taken measures to expand eligibility and volumes on the Southbound Bond Connect programme as it seeks to open up its bond market, giving non-bank financial institutions access to the market for the...
RULES & RATINGS
Rules & Ratings: S&P’s APAC sovereign ratings stable – for now
No changes were made to S&P Global’s 21 APAC sovereign ratings or outlooks in H1 2025, suggesting an expectation that the global economy will avoid severely negative outcomes – despite ongoing geopolitical tensions in...
THE BOOK
The Book: Türkiye issues its first digitally native note
Türkiye İş Bankası (İşbank) has issued Türkiye’s first digitally native note (DNN), facilitated by Euroclear.
The US$100 million DNN was issued on Euroclear’s Digital Financial Market Infrastructure (D-FMI), with the International Finance Corporation (IFC) as...
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