Download PDF Introduction Recently, it has been impossible to ignore the troubles Credit Suisse has been facing. After three years of scandals, the bank is evaluating to break up its Investment Bank to try to leave this chapter behind. Under the proposals allegedly put forward to the board, the bank Read more…
Download PDF Introduction On September 21st, Schneider Electric, which owns 60% of Aveva, submitted an offer to buy the remaining shares for £31/share. It will take the company private, in a deal valued at £9.5bn, one of the largest deals in the UK in 2022. However, with falling tech valuations Read more…
Download PDF Introduction Emerging Markets Debt is making a comeback in Google search bars. The term refers to sovereign bonds issued by less-developed countries. In fact, the words “debt” and “emerging” are closely linked: debt permits a country to raise fresh capital and with that to grow towards standards reflected Read more…
Download PDF Introduction The following article is heavily inspired by the paper “Investment Strategies with VIX and VSTOXX” (Stanescu, Tunaru, 2012) which analyzed different volatility trading strategies. The strategies are either based on a simple signal or the forecasting of spreads through GARCH models. After analyzing a more recent dataset Read more…
Download PDF Introduction As the backbone of the financial industry, the banking sector has always had a predominant role in worldwide economies. Over the last decades, banks have expanded their operations at a global scale, and imposed their presence in almost all economic activities. Understanding this vast sector requires dividing Read more…
Download PDF USA The start of the week can be described as the calm before the storm in major US stock indices, as investors digested last week’s higher-than-expected inflation print and were waiting on the Federal Reserve to announce their policy decision on Wednesday. Accordingly, no index posted significant gains Read more…
Download PDF Introduction Adobe Inc, one of the largest software companies worldwide, has announced the acquisition of software design start-up Figma Inc in an attempt to expand its online collaboration tools and reach new customers. The deal, which is valued at around $20bn, is a mix of half cash and Read more…
Download PDF Introduction On September 7, 2022, Repsol announced it would sell a 25% stake of its worldwide upstream business to EIG for $4.8bn, consisting of both equity and net debt. The transaction is expected to close within the coming six months, subject to customary closing conditions. The deal comes Read more…
Download PDF Industry Overview Uranium is a heavy metal that has been used as a concentrated energy source for more than 60 years. It is extracted from uranium-rich minerals, such as uraninite. Uranium ore can be mined either open-pit or underground and is then crushed and treated in a mill Read more…
Download PDF Welcome back from the summer break! Despite overall year-on-year declines in m&a activity following a record year in 2021, deal flow this year has been rather resilient in spite of the current macroeconomic conditions, including record inflation, conflict in Ukraine, supply crunches, and liquidity tightening from central banks. Read more…
Download PDF Introduction After months of rumours, intentions and promises, Porsche, the famous luxury German automaker, and property of the Volkswagen Group (VW), finally seems ready for its IPO, initially announced in February 2022. Porsche should start trading by the end of September and the beginning of October on the Read more…
Download PDF Introduction 2022 has been a difficult year for investment banks. Despite the relative strength of their trading divisions, a collapse in M&A value has been weighing down on revenues. Something that has been leading to outright losses, however, is Leveraged Finance. This lesser-known part of the financing groups Read more…
Download PDF Introduction On the 25th of September Italian citizens are going to vote for their representatives in the parliament. Based on the current macroeconomic and political scenario, we analyze the effects that the elections’ results might have on the markets and propose a trade idea based on the BTP-Bund Read more…
Download PDF A persisting trend DISCLAIMER: The EURUSD pair is an exception to general FX notation. We comply with the quoting convention adopted in the industry: when the Dollar strengthens against the Euro, EURUSD moves lower, and vice versa. For charting purposes, however, we use the USDEUR time series. The Read more…
Download PDF Sentiment in global financial markets was once again largely affected by rising inflation fears. USA The week started with a continuation of the relief rally in risky assets, as sellers momentarily reduced their pressure. The scenario was quickly reversed as soon as traders’ expectations for Tuesday’s inflation reading Read more…