Previewing 2016: There may be trouble ahead…

..but while there’s liquidity, spare cash and romance let’s face the market and transact! The prevailing corporate attitude in 2015 was to fight disruptive forces, low growth and uncertainty by transforming the portfolio and building resilience.  Our base case for 2016 is that companies will face similar challenges, turned up a notch. There’s an air … More Previewing 2016: There may be trouble ahead…

The Fed awakens!

Takeaways: An end to uncertainty, an effective vote of confidence and the repetitive use of the word ‘gradual’ by the FOMC inspired a brief rally in most equity and bond markets – even in some more vulnerable areas. So, is there really nothing to see here after their 0.25% increase in interest rates? Not quite. The … More The Fed awakens!

It’s not what you said, it’s how you said it…from China to CGOs

Takeaways: Last week’s engineered fall in the Renminbi was actually pretty modest, certainly in the context of the currency’s recent appreciation. More significant is what the move signalled – or more pertinently the market interpretation of those signals in the context of the un-virtuous circle of weak Chinese demand,  falling commodities prices, a stronger dollar … More It’s not what you said, it’s how you said it…from China to CGOs

What’s next? Seven questions, six charts and two illuminating deals.

Takeaway: Of course Greece isn’t out of the woods. We remain convinced that the only sustainable way forward is through debt reconstruction. It’s not off the table, but it’s not on it either. So, whilst this debate remains parked on a hostess trolley in Brussels, we’re going to ask a few questions to help take … More What’s next? Seven questions, six charts and two illuminating deals.

Disciplined M&A, unruly markets and emerging problems

Takeways: In some areas of the market it might feel a bit, well 2006-7. The rise in M&A ‘mega deals’, for instance, which could drive overall deal values to record highs in 2015. However, this M&A cycle differs in one vital respect: financial discipline. It’s a somewhat notable trait given the highly tempting yields on … More Disciplined M&A, unruly markets and emerging problems