Despite its size, the largest industrial bankruptcy in US corporate history is unlikely to have much of an effect on the credit derivatives markets, suggest analysts.
The cost of credit protection on financial institutions increased today across Europe and the US. The move came after the Bank of England's quarterly inflation report showed UK GDP growth was slower than expected in the first quarter of 2009 yesterday,...
The cost of credit protection on European financials increased this morning following the release of the Bank of England's quarterly inflation report. The report conceded UK GDP growth had been slower than expected in the first quarter of 2009, and revised...
Market sentiment towards US banks improved today, with the cost of credit protection on six of the nation's largest financial institutions falling. The move came on the same day Bank of America (BoA) was reported to have raised $7.3 billion from selling...
The cost of credit protection on US banks increased this morning, having fallen - in some cases by as much as 50 basis points - on Friday after the announcement of the US government's stress-test results last week.
In early US trading on Friday, the cost of credit protection on financial institutions fell markedly following yesterday's publication of stress test results by the US government. In contrast to earlier pessimistic predictions - some of which had estimated...
Ten US banks collectively require an additional $74.6 billion in additional capital to insulate against possible losses over the next two years, the results of US government stress tests show.
The cost of credit protection on European banks fell this morning ahead of the US government releasing the results of its stress tests on 19 US banks, helped by positive interim reports from UK banks.
An auction is to be held to settle credit derivatives linked to Syncora, the monoline formerly known as XL Capital Assurance, after a committee declared a credit event to have occurred on the firm on May 1.
The cost of credit protection on European financial institutions fell this morning following the US Federal Reserve's announcement yesterday that the economic outlook is improving.
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The cost of credit protection on Chinese banks fell this morning as a series of positive results for Chinese corporates boosted the Shanghai Composite Index 2.78% and Hong Kong's Hang Seng Index 2.76% in overnight trading.
As National Australia Bank - Australia's largest bank by assets -predicted a grim economic outlook for the country, the cost of credit protection on Australian financials rose this morning.
The cost of credit protection on major airlines increased this morning, as fears mounted that tourism would decline due to the swine flu outbreak in Mexico.
Strong trading results have offset large loan losses as banks report a mixed bag of first-quarter results.
The cost of credit protection on major US banks fell yesterday in the wake of JP Morgan posting a first-quarter profit of $2.1 billion.
Citigroup saw $1.59 billion in net income in the first quarter of 2009, compared with a net loss of $8.29 billion in the fourth quarter of 2008, and of $5.11 billion in the corresponding quarter last year.
Five-year senior credit default swap (CDS) spreads referencing European banks narrowed this morning. With JP Morgan announcing a first-quarter profit of $2.1 billion, market participants hoped for more encouraging news from the US.
The cost of credit protection on European banks increased this morning, as UBS predicted a first-quarter 2009 loss of Sfr2 billion.
The cost of credit protection on European banks decreased this morning, after Goldman Sachs reported a first-quarter net profit of $1.81 billion yesterday.
The recent popularity of put spreads and put-spread collars has helped push down volatility skew to record lows on global equity indexes, according to dealers.