Credit - 2007-06-01
Articles in this issue
Investment grade
Secondary market liquidity
Back to basics: sukuk
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask ... In part 2 of our special Islamic finance back-to-basics, the chairman of Moody's Middle East co-ordination committee, Khalid Howladar,…
Loan CDS index shrugs off delays to register $11 billion trading on day one
After resolving documentation issues, the LCDX index of loan credit default swaps finally launched in the US to overwhelming demand
High yield
Secondary market liquidity
Pimco's emerging markets team
Defending gains
Legal spotlight: principles-based regulation
Legal Spotlight
Issuer focus: VTB Bank Europe
VTB Bank Europe is the European arm of Russia's second-largest bank, VTB, which raised $8 billion in May in the biggest IPO so far this year. Global head of treasury Vladimir Sokolov talks to Nikki Marmery about investor demand for Russian debt and his…
Repricing the loan market
The advent of loan CDS trading has highlighted a huge differential between yields on cash and derivatives in this asset class. Laurence Neville asks whether loan CDS will force a major repricing of the cash loan market
India publishes credit derivatives guidelines
New guidelines from the Indian central bank are intended to kick-start development of the credit derivatives market in the region. But are the restrictions too limiting to be of any use?
John Addeo
Make the most of high-yield liquidity: it won't last for ever, says the portfolio manager at MFS Investment Management in Boston. Interview by Dalia Fahmy
Talking point: exchange-traded credit
Talking point
Fears over LatAm consumer credit boom
A lending spree by Latin American banks has led to a massive rise in consumer debt. Banks are content to securitise these loans, but what happens when consumers start defaulting?
Islamic finance supplement - Sukuk: caveat emptor
Demand for Shariah-compliant investment opportunities is exploding, but is the global market for sukuk guilty of ignoring the risks? Philip Moore investigates
Column: John Birdwood
Investors of a certain vintage will know that there's nothing new about the subprime boom and bust. Savings and loan associations in the 1980s went through a similar ordeal
Column: Amy Falls
Markets are ignoring the likelihood of rate rises in the US. But inflation, dollar weakness and private equity exuberance may herald the sudden return of interest rate risk
Bondholders turn up the heat in covenant battle
While 'covenant-lite' loans are grabbing headlines in the loan markets, issuers are being forced to add stronger covenant protection to get bonds away. Matthew Attwood reports
Q&A: Ray McDaniel & Brian Clarkson
The CEO and co-COO of Moody's Investors Service discuss how competition and regulatory pressures are changing the landscape for the credit rating agencies
The CDO manager hit parade
With nearly 300 CDO managers plying their trade in today's global markets, investors are hard-pressed to decide who's top of the pops and who's a one-hit wonder. Rachel Wolcott speaks to influential investors to find out which managers they really rate
Islamic finance supplement - Chapter and verse
Derivatives
Market graphic: spread decompression
Market Graphic