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M&A Deals Market Trends Macroeconomic News

M&A Activity in China

With my time as CIBS Research Group Director coming to an end, I thought the most fitting way to write my last article would be to reflect back on my first. 2021 has marked the busiest-ever start to a year for M&A activity in China, with a record pace of […]

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Market Trends

Breaking bonds

We have seen an enormous amount of volatility within the bond market recently, inflicting fear onto investors who were preparing for a steady recovery from the pandemic. Most have taken it as a given that we will soon be able to return to normal with the rapid rollout of vaccines […]

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Market Trends

Ready for take-off

The travel industry has been one of the worst-hit during the pandemic, with lockdowns grounding flights, keeping cruises in docks, and tourists at home. A year into the COVID-19 pandemic, travel companies have made huge losses and they are yet to see revenues flooding back in. However, the success of […]

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Market Trends

Bitcoin: A digital store of value?

In 2009, a mysterious and anonymous whitepaper was published under the pseudonym Satoshi Nakamoto, which described the principle of a peer-to-peer and purely digital currency. It described advantages such as lower transaction fees than traditional online payment infrastructure and a shift to a decentralised authority, unlike government-issued currencies. Since Bitcoin […]

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Market Trends Macroeconomic News

The Biotech Boom

The biotech industry has stolen the limelight after being pushed to the forefront of people’s minds as the world races to manufacture vaccines and restore a sense of normality. Early this month, we passed a historic milestone – the number of Covid-19 vaccinations globally finally surpassed the total number of […]

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Capital Markets Market Trends

Chinese Capital: Domestic vs. Foreign Property Markets

China’s Property Bubble: Will it Stabilise or Burst? Long-sustained housing investment has been consistently observed in China over the last decade, which has prompted both fear and trepidation amongst economists, analysts and governments globally. The signs of overbuilding are apparent. The debt levels are high. At the peak of the […]

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Market Trends

The irony of Robinhood

The events of the past week (beginning 25th of January), have challenged the role that retail traders in the global financial markets have traditionally played. The demographic has never had as much influence as it currently does, as it disrupts spaces previously dominated by large institutions such as hedge funds, […]

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Market Trends

A Dangerous Game(Stop)

As of the time of writing, the current valuation of GameStop stands at 8.94bn USD with a closing price on January 28th of $193.60 per common unit — this is after a one-day drop of 44%. It truly is a sign of the times when in a short few days […]

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Market Trends Macroeconomic News

UK Financial Services Post-Brexit

With the start of 2021 ushering in a new era for Britain, having left the EU’s single market, the agreed trade deal continues to be debated and questioned. But with a deal on financial services to be negotiated separately in the coming months, there is uncertainty surrounding the sector which […]

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Market Trends

Market response to the COVID vaccine — an injection of hope?

On November 9th 2020, pharmaceutical giant Pfizer announced preliminary results of a medical study suggesting the development of a COVID-19 vaccine, with an efficacy of 90% in preventing COVID-19 in candidates facing exposure to the virus for the first time. The study comprised 43,538 participants, with those receiving the active […]

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Market Trends Macroeconomic News

Banking with Bitcoin and Beyond

Bitcoin hit an all-time high again. Of course, not before slumping shortly afterwards. It peaked at an intraday all-time high of $19,510, more than 300% above its low point in March earlier this year. It last attained such numbers in December 2017, a year which saw its value skyrocket nearly […]

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Market Trends Macroeconomic News

Can Biden make America green again?

Since President-elect Biden won the election at the start of this month, many have been left wondering about the consequences this will have for the environment. The US has by no means a good reputation in this sector, especially after four years of the Trump administration who were actively hostile […]

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Capital Markets Market Trends

Investor Appetite: DoorDash fills consumer’s hunger, will its IPO fill investors’ hunger too?

DoorDash, America’s biggest food-delivery company, is due to be listed on the New York Stock Exchange under the symbol “DASH” next month, aiming to be valued at more than $20bn in the IPO and begin trading in December. Its financial documents filed on November 13th reveal it booked orders worth […]

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Market Trends Macroeconomic News

Is this the end of the boom-bust cycle?

Over the last century or so, most Western economies have demonstrated distinctively cyclical behaviour. Known as the boom-bust cycle, the credit cycle or the economic cycle, the superposition of inflationary and deflationary oscillations over a reasonably linear increase in productivity growth, has defined the natural order of the financial markets […]

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Market Trends

Can Big Oil survive in a low-carbon world?

Oil prices slumped to their lowest levels since May on October 29th, with Brent Crude oil prices falling below $37 per barrel. Renewed lockdowns in Europe and resultant falls in demand serve as a reminder for an industry, scarred by the freefall of oil prices in March and April, of […]

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M&A Deals Market Trends

Intact and Tryg £7.2bn bid to take over UK insurer RSA

This month, Canada’s Intact Financial and Denmark’s Tryg made a joint bid to acquire RSA, a 300-year-old UK insurance firm, for £7.2bn. The deal follows a growing trend towards UK insurers being bought by overseas rivals; Finnish insurer Sampo and South Africa’s Rand Merchant acquired Hastings this year for £1.7bn. […]

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Market Trends

Semiconductors: The real blue chips

Chip-manufacturing giants Taiwan Semiconductor Manufacturing Co Ltd. (TSMC) and Qualcomm have both recently reported blowout earnings, raising their revenue forecasts following a year of record highs. Worldwide sales of semiconductors totalled $113.6bn during the third quarter of 2020, an increase of 11% over the previous quarter and 5.8% more than […]

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Market Trends

An electrifying rollercoaster ride

When the opening bell rang at the NYSE a few weeks ago, founder and CEO of Hyliion Inc. Thomas Healy earned the dubious distinction of becoming one of the world’s youngest self-made billionaires. With a stake in Hyliion Holdings Corp. — the newly formed company from the merger with special […]

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Market Trends

Is gold still worth its own weight?

With ongoing pressures to keep economies moving during the coronavirus pandemic, policymakers are doing almost everything possible to continue to encourage spending; for example, offering zero interest rates and printing cash. The measures, with their inherent propensity for inflation, have caused many investors to return to gold as a safe […]

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Market Trends

Should we break up Big Tech?

The five Big Tech companies (Apple, Microsoft, Alphabet, Amazon, and Facebook) are one of capitalism’s modern day success stories, growing to account for 17.5% of the S&P 500 in the space of a few decades. We have long praised the innovation they have brought, but now they face a growing […]

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Capital Markets Market Trends

Fallen Angels: Heaven or Hell?

Much like the angels cast out of heaven according to Judeo-Christian doctrine, fallen angels are high-yield corporate bonds that, at the time of issue, were deemed to be investment grade, but have subsequently been downgraded to sub-investment grade. Considering the current low interest rate environment, and since high-yield bond spreads […]

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Capital Markets Market Trends

Direct listings: Sidestepping the traditional IPO

Project management software provider Asana and data analytics and consultancy firm Palantir directly listed their shares on the NYSE on September 30th, bypassing the traditional IPO method. By excluding underwriters, (historically) selling pre-existing shares and thus raising no new capital, direct listings in the past have been best suited to […]

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Market Trends

Renewable energy: Redefining the global energy market

The first half of 2020 has seen a considerable drop in M&A activity with the total value of deals falling 53% below that of last year and the total volume down 32% — the lowest total value and volume since H1 2010 and H1 2013 respectively. This in itself is […]

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Market Trends Macroeconomic News

The divide: Wall Street vs Main Street

The disconnect between the stock market and the real economy, particularly in the US, has been evident throughout the coronavirus pandemic. Between February 19th and March 23rd, the S&P 500 benchmark lost a third of its value, with investors selling shares as the COVID-19 pandemic escalated in Asia and Europe. […]