Credit - Volume 7 / Issue 1
Articles in this issue
CSFB buys up EUR300m of German NPLs
The deal is part of a trend for banks to sell off German NPLs to large foreign banks
Regulators blast SMBC for swaps coercion
The Japanese bank is under fire for making customers buy interest rate swaps
Shift in balance of power
US High Yield
Idiosyncratic risk threat to credit derivatives
But the general outlook for credit remains "benign", according to Deutsche Bank
Fed up with hedge funds
Milton Ezrati wonders how the Fed can combat hedge funds' unregulated use of derivatives
Asian hedge funds move into credit
Hedge funds in Asia
iTraxx and RBS launch sterling CDS index
The 75-name index is made up of the most liquid sterling bond issuers
Pension fund hedging drives inflation market volatility
Outsized inflation swap trades by pension funds may be causing imbalances in what is a relatively thin market
Market graphic - The outlook for volatility
Victor Consoli, head of high-yield research and corporate credit strategy at Bear Stearns in New York, explains the implications of an end to the low-volatility environment
Nancy Havens-Hasty
The founder and portfolio manager at Havens Advisors talks to Saskia Scholtes about what gives her hedge fund the edge in M&A and bankruptcy investment
ABS to continue rapid ascent
European asset-backed securitisation volumes for 2005 are estimated to surpass 2004's figures by 10-15%
Isda docs to spur CDS of ABS growth
S&P reckons standardisation of Isda documentation will attract investors
Talking point - How to gain excess returns in a tight market
Overweighting the credit market as a whole is unlikely to reap rich rewards going into 2006, so Credit asked market participants for their tips on investment strategies
Deutsche sells US asset management business
The German bank signs a £265m deal with UK firm Aberdeen Asset Management
S&P admits that GM bankruptcy is no longer 'far-fetched'
Continued uncertainty over the sale of GMAC has exacerbated negative sentiment surrounding the automaker
The implication of inflation
Inflation
2,000 sign up to Isda Novation Protocol
But some buy-side institutions claim they were given little choice in signing up
Australia - High yield boosts growth
A landmark deal from Tabcorp in 2004 marked the emergence of the high-yield bond market in Australia, while the rebalancing of the UBS Composite Bond Index to include lower-rated credits is also fuelling growth, writes Alan McNee in this month's regional…
Speculative-grade liquidity ratings and credit spreads
Sponsored Statement
Gary Jenkins & Jim Reid
Deutsche Bank's credit strategists explain the findings from their recent study investigating the past 100 years of corporate bond returns
NASD fines State Street for reporting failures
The record $1.4m fine is for neglecting to report trades to Trace
