Foreign exchange
Bob Buhr
The existence of so-called special shares in some European companies enables governments to block certain transactions such as acquisitions and LBOs. Understanding how they work is necessary for bondholders in assessing LBO risk, says the head of credit…
Investing Philly-style: Aberdeen AM's US fixed-income team
Cross-asset class teamwork coupled with conservative risk management drives Aberdeen Asset Management's investment strategy, leading to a current concentration on MBS and an underweight allocation to corporate bonds. This year they're on the lookout for…
TABX launches into rocky ABS market
Dealers started trading tranches of the ABX indices just as fears of subprime mortgage losses sent spreads reeling and caused wildly divergent pricing on the new product
Oxygen for the markets
... or why market sentiment is propping up ill companies
It's different this time - really
The advent of the structured credit market has changed investors' understanding of risk. What's more, the triggers for widespread losses will not be the same this time round
Winner: Wienerberger
Amongst the month's most innovative and ground-breaking deals in the credit markets, we highlight Wienerberger's hybrid, Anderson Valley II CDO and HBOS's $3bn covered bond
Moody's hybrid methodology
Talking point
Subprime mortgages trigger ABX sell-off
Investors in the subprime mortgage sector might have been expecting some kind of market correction after a jump in delinquency rates at the back end of 2006. What they weren't expecting was a full-scale stampede out of the ABX index. Credit reports
iTraxx roll date poses first test for CPDOs
Market participants downplay concerns that fast money accounts may exploit the index roll by trading against CPDO managers when the series rolls on March 20
Hong Kong sees first property derivatives in Asia
Sun Hung Kai Financial (SHKF) and ABN Amro have completed Asia’s first property derivatives deal, a swap based on Hong Kong residential properties.
FSA and CESR make preparations for Mifid
REGULATORY UPDATE
Bahrain issues Basel II consultation paper
REGULATORY UPDATE
GAO supports Basel II; chides US regulators
COVER STORY
IIMG proposes Lamfalussy improvements
REGULATORY UPDATE
Belated US Basel II guidance finally released
COVER STORY
Basel Committee releases cross-border paper
REGULATORY UPDATE
FSA to assist trade bodies committed to PBR
REGULATORY UPDATE