Credit - 2007-02-01
Articles in this issue
Q&A: Charles Romilly
ECU Group in London uses currency management to reduce clients' lending costs. As it starts pitching to corporates for the first time, ECU's head of corporate liability management explains how it works
Investment grade
Secondary market liquidity
Winner: BMW
This month's awards for the most innovative and mould-breaking deals in the credit market go to BMW for its EUR1 billion bond, Calyon's convertible and KfW's rouble issue
A tale of two cities
Tim Frost looks at why London has forged ahead in the credit derivatives stakes while New York has become something of an also-ran
Market Graphic: Credit card ABS spreads
Market Graphic
Back to basics: the cash CDS basis
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask... Moorad Choudhry, head of treasury at KBC Financial Products in London, discusses the credit default swap basis
Idiosyncratic risk in 2007
Talkingpoint
Reinventing the wheel
The new wave of structured credit innovations look suspiciously like more confusing, highly leveraged versions of deals the market has seen before. Is all this reinvention in investors' best interests? Sarfraz Thind reports
EHYA presses for greater loan disclosure to combat 'parallel' markets
Market participants trading loans privately on a bilateral basis may have an advantage over investors who trade solely using public information - a situation the EHYA is keen to tackle
Ecuador president raises spectre of default
New socialist government drops hints that it may follow Argentina's lead and default on $10.4bn of sovereign debt - despite the nation's buoyant economic position
Jonathan Laredo
Change is in the air, says Jonathan Laredo, partner at Solent Capital in London. He tells Nikki Marmery how Solent is structuring CDOs this year to take advantage of spread widening
MassMutual launches new CDPC
New York-based Invicta will act as a counterparty on CDS exclusively within structured credit rather than the single-name market, which its rivals serve
Corporate credit: The final frontier for central banks
Central banks are showing more interest in corporate credit. With spreads at historically tight levels, these traditionally risk-averse investors are exploring further down the credit curve in search of returns. Matthew Attwood reports on the rise of the…
Bursting point: A deflating time for US housing market
The US housing market has come down to earth with a bump, but the landing has not been as hard as many investors had feared. There are even some positives to be gleaned from the recent strong performance of mortgage-backed securities and the success of…
The Big Interview: Paul Mingay
The head of credit at Morley Fund Management wants to see better transparency in the bond markets - but not at any price. Interview by Nikki Marmery
