Articles by Ben St. Clair
BofA names co-heads for new credit macro trading unit
Reshuffle comes after macro and systematic trading head Derek Hafer jumped to RBC
Ice flow weathers geopolitics and supply storms
Talking Heads 2026: Network size and liquidity see exchange group through volatile times and novel products
Banks peg range accrual coupons to CDS spreads
Morgan Stanley and BNP Paribas tie note coupon barriers to French sovereign and iTraxx Europe CDS spreads
NAIC proposal hints at wider scrutiny of insurer investments
US life insurers have pushed back on a proposed change to capital rules for asset-backed securities
PGGM sees a chance to diversify with fourth-trigger CDSs
Dutch pension manager hopes bank demand will continue to grow for derivatives counterparty credit protection
Big investors turn to off-exchange prediction markets
Millions of OTC event contracts are being traded monthly, with individual deals as big as $10 million
Cuts and points – how the Dealer Rankings work
Dealer Rankings 2026: We have a simple way to compare dealers. Sort of simple, anyway
US housing law delivers good news for insurers
Congress added curbs to institutional property ownership; insurers are more interested in the underlying loans
Fourth-trigger CDS market weighs going blind
Dealers see benefit of undisclosed, replenishable pools – but not everyone is convinced
MSIM retools renminbi options wager
Counterparty Radar: US manager rebuilds USD/CNH call book to $15.7bn with strikes closer to spot and cheaper premiums
How Pimco, Capital Group funds bet on falling US rates
Counterparty Radar: Inflation hedge would soften impact for Capital Group; Pimco’s swaptions structures targeted modest decline
Banks demand look-through on private credit lending
Risk Live: Risk managers say they need to see underlying loans before lending to funds