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◆ What Trump or Harris mean for EM sovereign issuers 
◆ The outlook for UK capital markets after the Budget 
◆ Creditors turn on each other in Thames Water saga

In a year of elections, now comes the big one — the US votes on November 5 for either Kamala Harris or Donald Trump as its next president. Whoever wins, and whichever of the Democrats or Republicans ends up controlling Congress, the effect of the results will be felt around the world, including in its capital markets.

We focus on one group of borrowers for whom the result can make or break their bond market access: emerging market sovereigns. We discuss the effect a Trump or Harris presidency will likely have on their funding access and why.

The UK's new Labour government revealed its first Budget this week. We examine how the event affected the Gilt market and look more broadly at the outlook for equities, M&A and investment banking in the country.

Finally, an update on the latest twist in Thames Water's debt saga as different groups of creditors launched alternative and competing proposals to lend the company more money.