Foreign exchange
Shinsei launches 'hybrid' bond
Japanese bank's first covered bond is deemed riskier than its European counterparts
Up for grabs
M&A
A unifying approach
Economic Capital
Interest rate risk of mortgage servicing rights
Dick Boswinkel and Kent Westerbeck examine the behaviour of mortgage servicing rights' duration and convexity and explain how they relate to the prepayment assumptions used in valuing MSRs
Steward's enquiry
Hermes' David Pitt-Watson gives an owner's perspective on the troubles at UK lender Northern Rock, and details the changes he believes would prevent a repeat of the credit crunch in future. Interview by Rob Mannix
Joined-up thinking
Platform's Piero Bassu tells Dippy Singh how keeping an eye on all aspects of risk has stood the subprime lender in good stead while its less disciplined peers have foundered
Market mulls implications of Northern Rock rescue plan
While some welcome any initiatives to reopen the securitisation market, others question whether the government's guarantee gives the lender an unfair advantage
Improvement in ABCP outlook sparks hopes of recovery
A pick-up in the issuance of asset-backed commercial paper is being seen as a sign that the market is near or at the bottom, although European observers remain cautious
Sweet release
Equity release
Nirvana for some
Commercial property
Profile: Matt Cairns
The senior European economist at Moodyseconomy.com, part of Moody's Analytics, talks to Matthew Attwood about the macro trends that define his business
Sovereign wealth saviours
The financial markets have found their new superhero. With major investment banks on their knees after whopping subprime-related writedowns and liquidity in the bond markets severely affected, the arrival of sovereign wealth funds, with their groaning…
Drying up down under
Liquidity in Australia's nascent structured credit market has suffered as a result of the subprime squeeze, leading to an inevitable bout of finger-pointing. Marion Williams reports
The Big Interview: Tim Congdon
The founder of Lombard Street Research and respected economist discusses the precedent for last summer's crisis with Matthew Attwood, and explains how policymakers are damaging the market
Market graphic - Recessionary pricing
The effects of a US recession on Europe are hard to quantify, but European spreads are already pricing in a mild recession, according to JPMorgan Credit Research. Is this enough?
Fitch Ratings closes derivatives spin-off as agencies count the cost of slowdown
Derivative Fitch, launched to much fanfare just over a year ago, has been rolled back into the parent company in response to falling revenues from derivatives and structured credit
Column: Andrew Kasapis
Our new columnist suggests three trading strategies that might reap rewards this year