Credit default swaps (CDSs) referenced to financial services and telecommunications firms were the most active in the global credit default swap market in January, according to New York-based interdealer broker GFI.GFI said that, for the first time in more than a year, motor manufacturing was no longer the most active sector in US CDS trading. Instead, financial services dominated, led by California-based Countrywide Home Loans. San Francisco-based clothing retailer Gap and Michigan-based carmakers General Motors and Ford were also on GFI’s most-active single name list.
In Europe, telecommunications was the most active sector for the fourth month in a row, with Telecom Italia and Netherlands-based KPN among the most active single names. London and Amsterdam-based publisher Reed Elsevier and UK media company Pearson helped make publishing one of GFI’s most active sectors. Portugal Telecom International Finance was also on the most-active list.
In Asia, financial services remained the most active sector for the ninth month running, led by Kazakhstan-based Bank TuranAlem and Japan-based banks Aiful, Softbank and Takefuji. Tokyo-based Toshiba was one of the most active single names, pushing the computing sector back into the most-active list.
GFI also said January’s most active sovereign CDSs were referenced to the governments of Brazil, Russia, Turkey, Ukraine and Venezuela.
More on Structured Products
$12.5 million fine for cross border activities with US clients
ESAs propose visual representations of risk in key information document
Regulatory panel suggests backtesting internally is best practice
Growing appetite for ETFs buoys market confidence
Sign up for Risk.net email alerts
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.