Asia's equity capital market
(ECM) bankers are pinning hopes on a pick-up in follow-on share
sales when markets stabilise, after suffering the worst start to
the year since the early days of the global financial crisis.
A bipartisan group of U.S.
lawmakers urged Treasury Secretary Steven Mnuchin on Thursday to
order the U.S. Customs and Border Protection agency to defer
collections of U.S. tariffs for at least 90 days to ease
coronavirus pressures on U.S. businesses.
companies are reviewing or even terminating takeover deals by
using a legal escape route because of the devastating impact of
the coronavirus, a template that some lawyers expect to be
replicated in other countries.
U.S.-based taxable bond funds saw a
record $62 billion outflow in the last week, while money also
fled stock and municipal bond funds as investors shaken by the
impact of the coronavirus outbreak on financial markets moved
into cash, according to Lipper data.
The U.S. Federal Reserve's balance
sheet soared past $5 trillion in assets for the first time this
week as it scooped up bonds and extended loans to banks, mutual
funds and other central banks in its unprecedented effort to
backstop the economy in the face of the global coronavirus
Australian shares were set to open
higher on Friday, tracking Wall Street peers, as investors
focused on the passage of a massive coronavirus relief bill in
the U.S. Senate and the possibility of more economic aid to
The local share...
Fitch Ratings on Thursday affirmed the
United States' credit rating at AAA with a stable outlook, but
warned that even before the massive economic shocks caused by
the spreading coronavirus, the nation's already high and rising
debt and deficits were starting to erode its credit strengths.