The Global Borrowers & Investors Forum 2013

Euromoney’s Global Borrowers and Investors Forum took place against a background of bond market turmoil caused by the Federal Reserve’s May signalling of a phase-out of asset purchases. Over 800 borrowers, investors and intermediaries gathered on June 25 and 26 to discuss just what that meant for their world.

Benoît Cœuré, executive board member of the ECB opened the conference by making clear that the Frankfurt-based central bank was keenly aware of what any return to a more orthodox central banking regime might mean. “The recent bout of volatility in global fixed income markets is excessive in view of the current economic conditions,” said Cœuré, “but it can serve as a useful reminder that such developments cannot be dismissed lightly.” He added that the weakness of the Eurozone economy did not warrant any imminent tightening of monetary policy.

Many speakers stressed that markets were moving into uncharted territory as players sought to untangle the wider effects of central bank asset purchase unwinds. That uncertainty was magnified by the wider debate taking place over central banking.

David Miles, external member of the Bank of England’s Monetary Policy Committee, argued that his institution had not provoked bubbles in asset prices by buying government bonds; instead it had avoided a potentially vicious spiral of asset deflation. But Mario I. Blejer, vice chairman of Banco Hipotecario Argentina, and former governor of his country’s central bank said that events of recent years had proved that it was time to revisit the model of an independent central bank with inflation targeting as its overriding tool.

Most of the leading debt managers of advanced economics took to the stage over the two days to explain how they were navigating the current environment. Panels of corporate, emerging and emergent market, European and International supranational and agency borrowers took their turn to talk about their markets as well. These panel discussions were interspersed with various lively panels and workshops which focused on bank capital and finance, the Canadian dollar bond market, the Swiss franc bond market, the kangaroo market, the high yield market, Latin American issuance, covered bonds and investors’ own perceptions of the opportunities arising and the risks they face in the current financial environment.

Euromoney would like to thank all sponsors, speakers and delegates for helping to make The Global Borrowers & Investors Forum 2013 such a resounding success once again.

We are looking forward already to the 2014 Forum.

For sponsorship enquiries for the 2014 Forum, please contact Ruth Beddows on +44 207 779 8829 or email rbeddows@euromoneyplc.com. For speaking opportunities, please contact Sara Leech on +44 207 779 8819 or email sleech@euromoneyplc.com

 

 To view the videos from the conference, and more from Euromoney Conferences, go to Euromoney Online Channels.

"This event offers the possibility to hear interesting -sometimes challenging- views on capital markets developments and thus makes the trip worthwhile. At the same time, it is probably the best place in town to network."
Anne Leclercq, Director, Treasury and Capital Markets, Belgian Debt Agency

"The Euromoney Global Borrowers and Investors Forum provides a truly unique opportunity to interact with financial professionals across a wide variety of industries with an international demographic composition. There are very few professional gatherings which provide the breadth and access of the Euromoney conference and attendance at this conference most definitely provides an advantage vis-à-vis ones peer group for financial professionals operating within a global investment dynamic."
Bonnie Baha, Portfolio Manager, Global Developed Credit, DoubleLine Capital LP

"During these difficult times in financial markets, Euromoney Global Borrowers and Investors Forum provides a meeting place where the leading issuers, investors, policy makers and commentators vigorously debate current issues, and discuss what will drive their markets and performance for the future. Few events gather such a wide range and depth of participants. It is great value to take part, and unfortunate to miss out."
Peter Boone, Non-Resident Senior Fellow, Peterson Institute for International Economics and Visiting Senior Fellow, London School of Economics