Structured products
Emerging markets sector funds listed on NYSE
Emerging Global Shares has launched two new exchange-traded funds (ETFs) on the Arca platform of the New York Stock Exchange, the first offerings from the provider on NYSE. One fund offers exposure to emerging markets metals and mining, while the other…
Duggan offers credit and equity play
Duggan Asset Management, a Dublin-based niche investment firm, has launched a 100% capital protected deposit-based structured product - called the Credit Bond. The product is designed to give investors exposure to the high-yield credit market by…
Audit finds OTS helped banks cook their books
The US Office of Thrift Supervision (OTS), the financial regulator responsible for overseeing mortgage lenders such as Washington Mutual and IndyMac, helped several institutions break accounting rules by backdating capital contributions last year to…
Why the regional Federal Reserve banks are up in arms
A number of presidents of regional Federal Reserve banks and senior staff have recently expressed dissent from the official line taken by the US authorities in managing the banking crisis.
Isda to review collateral dispute process
The derivatives industry is working towards formalising the resolution process for collateral disputes after existing resolution methods proved inadequate during the financial crisis.
CDS: Spreads widen on equities sell-off
Credit default swap 5-year mid-levels for structured products issuers (May 21)
US Wrap: Barclays reverses from convertibles into growth
Barclays Bank has released an accelerated growth chaser to the plethora of reverse convertible notes it has launched over the past week. The note is one of the emerging markets plays now beginning to make more regular appearances in the market as…
PBGC deficit triples to record $33.5 billion
The US Pension Benefit Guaranty Corporation (PBGC) has posted a record deficit of $33.5 billion for the six months to March 31, tripling its previous deficit of $11 billion for the 2008 financial year.
US municipal market faces clean-up under new rules
The municipal bond market in the US is still largely in a state of disarray, well over a year after the collapse of the auction rate securities (ARS) sector, though signs of recovery are visible in the fixed-rated debt market, congressmen have heard.
Keydata launches seventeenth tranche of growth plan
Keydata, the UK structured products distributor, has launched issue 17 of its Dynamic Growth Plan Plus. The plan gives investors who may have lost significant amounts of money over the last 18 months with traditional long only managers a chance to…
CDS: Spreads tighten sharply tracking equity rally
Credit default swap 5-year mid-levels for structured products issuers (May 19)
US wrap: RBC confirms reverse convertible rally
The reverse convertible flood has continued in the US market, largely helped by Royal Bank of Canada which has just launched 16 of the notes. Barclays has launched an additional two notes, bringing its total to 35 for the latest bout of issuance, ABN…
CDS: Spreads narrow again
Credit default swap 5-year mid-levels for structured products issuers (May 20)
RBS and Sip Nordic storm UK IFA market
Royal Bank of Scotland has partnered with Sip Nordic to launch a new series of dynamically managed structured products into the UK independent financial adviser (IFA) market. The investments will be sold by a 25-strong sales force working across the…
Stress-test success masks bigger problem with banks
The US government's bank stress tests appear to have been successful in stabilising financial markets, but some market observers believe they are obscuring broader systemic problems and could hamper efforts to deal with toxic assets.
Volatility returns to pre-Lehman levels
Market volatility across several sectors has dropped back to levels last seen before the collapse of Lehman Brothers in September 2008, lending weight to the belief that the financial markets are on the road to recovery.
Fed steps in to support CMBS market
The US Federal Reserve will start accepting legacy commercial mortgage-backed securities (CMBS) as collateral under its Term Asset-backed Securities Lending Facility (Talf), as the US commercial real estate market continues to struggle.