Articles by Sophia Morrell
US Wrap: Flights, financials and fairytales underlie new issues
Reverse convertibles again dominated the opening of the week in the US, making for six of the nine new issues. Wachovia opted for Boeing shares as an underlying, making the most of the re-emerging popularity of airline stocks, and Walt Disney for the two…
US Wrap: Moving away from the S&P benchmark index
Diversification from products based on the S&P 500 marked last Friday, when six products were launched in the US Market, only two of which were based on the benchmark index. JP Morgan's Enhanced Return Strategy product was linked to the iShares MSCI Eafe…
US Wrap: S&P 500 products dominate
Deutsche Bank and JP Morgan were issuers for the five, S&P 500-linked products that made it to market yesterday. All five products are autocallable structures with capital at risk and around a two-year maturity.
US Wrap: Reverse convertible issuance predicts market rally
A busy day in the US market yesterday saw 23 new launches, with the majority banking on a recovery in equity markets. JP Morgan issued six reverse convertibles linked to the stock performance of a variety of industrials, including US Steel Corp and…
US Wrap: Reverse convertibles come bouncing back
Sixteen new issues were launched into the US market yesterday, doubling Monday's issuance. Barclays Bank offering 8 convertible notes on a smattering of underlyings including the US Oil Fund, Goldman Sachs stock, the equity of electronics retail chain…
US Wrap: Blizzard of secondary credit bolsters issuance
Counterparty risk is still high on the agenda within the US market, with half of new launches were underwritten by credit separate from the issuing institution. Barclays Bank, Goldman Sachs, and Citi all used either Eksportfinans or Swedish Export Credit…
US Wrap: Spectrum of risk profiles offered on S&P 500
Six new issues were launched into the US market before the weekend by four issuers. The S&P 500 continues to dominate issuance, with four of the products offering exposure to the index.
US Wrap: Issuers get bullish on S&P 500 recovery
Six products were launched into the US market yesterday, accelerating a subdued week. Morgan Stanley added to its previous launches with two reverse convertibles, while Credit Suisse and Goldman Sachs both launched accelerated growth products. Four of…
Coping with collapse
The demise of Lehman Brothers spelled potential disaster for the US market. Reverse convertibles have sunk on the back of falling equity markets, fear of structured products is spreading like wildfire in the wake of negative media coverage, and a hoped…
Aggregate wins
Pershing, the broker-dealer subsidiary of the Bank of New York Mellon, has consolidated its position as an industry heavyweight with the August launch of an online portal giving investment advisers access to hundreds of products. So how does it see the…
Sourcing security
Markets
Richardson's rich pickings
After partnering with Credit Suisse earlier this year to sell structured notes, Richardson Partners Financial has found news ways to adapt its offering to high-net-worth clients amid an exceptionally tough financial climate in Canada - and its business…
Weathering the storm
Lehman Brothers' collapse has potentially ruinous consequences for the US structured products market. But delegates and speakers at the Structured Products West Coast Conference were surprisingly upbeat about the future and opportunities that have arisen…
Brief encounter
Unstable financial markets are pushing risk-averse retail investors in the direction of shorter-tenor products, with some forex notes lasting only a week. An example of the interesting opportunities thrown up by today's volatile landscape, perhaps. But…