Bonds without Borders tells the extraordinary story of how the market developed into the principal source of international finance for sovereign states, supranational agencies, financial institutions and companies around the world. Written by Chris O'Malley – a veteran practitioner and Eurobond market expert- this important resource describes the developments, the evolving market practices, the challenges and the innovations in the Eurobond market during its first half- century. Also, uniquely, the book recounts the development of security and banking regulations and their impact on the development of the international securities markets.
In a corporate world crying out for financing, never has an understanding of the international bond markets and how they work been more important.Bonds without Bordersis therefore essential reading for those interested in economic development and preserving a free global market for capital.
Introduction: Fifty Years of the Eurobond Market xi
Chapter 1 Before the Beginning To 1962 1
Chapter 2 Building the Base 1963–1969 21
Chapter 3 Oil and Turmoil 1970–1979 47
Chapter 4 Masters of the Market 1979–1984 73
Chapter 5 Going Global 1985–1989 99
Chapter 6 The Derivatives Dash 1990–1995 125
Chapter 7 Convergence and Credit 1995–1999 145
Chapter 8 Of .Com’s and Cons 1999–2004 163
Chapter 9 Mark-to-Model 2004–2007 187
Chapter 10 Busts and Bailouts 2007–2010 207
Chapter 11 Sinking Sovereigns 2011–2013 229