Foreign exchange
JP Morgan investment banking reports record profits
Today, JP Morgan reported that it earned $2.14 billion in the first quarter of 2009, a decline from the corresponding period last year when it saw a net income of $2.4 billion.
US Wrap: Easter money is on US equity alongside rare commodity note
There were 15 new issues in the US market over the Easter period, with all but one offering exposure to US equity. New launches since last Thursday included a mix of reverse convertibles and accelerated growth or kick out structures linked to the S&P 500…
HKMA ring-fenced assets before Lehman collapse
The Hong Kong Monetary Authority (HKMA) had identified 19 foreign banks whose financial health could have had a negative impact on the Hong Kong banking system before the collapse of Lehman Brothers in September last year.
UBS continues losing streak into Q1
UBS will make a SFr2 billion ($1.75 billion) loss for the first quarter of 2009, the firm's chief executive, Oswald Grübel, predicted at the bank's annual general meeting in Zurich on April 15.
Warsaw targets structured products with new index
The Warsaw Stock Exchange (WSE) has launched leveraged and short versions of the Wig20, with the latter specifically targeted at structured products providers. The exchange is now offering double exposure to the Wig20, alongside the short index which…
Lifting the lid on tax havens and bank secrecy
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UAE enforces tighter capital adequacy rules
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New York Fed and Bernanke release TALF Responses
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The great bond buyback
The Bank of England has kicked off its repurchase scheme for sterling high grade bonds, but opinion is divided over whether the subsequent tightening of spreads is down to the government initiative or extraneous factors. Laurence Neville reports
Volatility puts credit investors on the defensive
Investors are gravitating towards safe haven sectors such as utilities and telecoms as credit fundamentals on non-cyclicals continue to deteriorate
Sting in the tail
Credit spreads on highly rated names have blown out to levels that are proving irresistible to many buy-and-hold investors such as pension funds. But tail risk in the form of increased default expectations is still a major consideration. Blake Evans…
Marketgraphic - European investment grade issuance
High grade corporates have turned to the bond markets for financing given the reluctance of banks to extend loans. Analysis by Michael West and Sabinne Renner of Moody's
Klaas Knot
One of the architects of the Basel II Accord - and a senior Dutch regulator - defends the framework against criticisms that it was ineffectual in the face of the recent banking turmoil
On the crest of a wave
Corporate bond volumes have been soaring as companies scramble to meet their funding requirements in the wake of the loan market's demise. Simon Boughey looks at whether this wave of issuance is a temporary phenomenon or whether it heralds a permanent…
SEC aims to close the Gaap by prolonging consultation period on accounting rules
The extra 60 days for public comment on the amalgamation of US and international accounting standards does not signify a stalling of the process, says a financial accounting chief
Ukraine heads list of riskiest sovereign issuers
Central Asian and South American countries dominate the league table of sovereign issuers with the highest risk debt, while northern European nations - plus the US - are among the safest
Max Bublitz: The great race ... to the bottom
Predicting how long the downturn will last is a fool's game. Past cycles are no useful indicator because we are undergoing a more tectonic shift in the global economic landscape
Robert Stheeman
The head of the UK's Debt Management Office, the body responsible for administering the wave of recent government issuance, tells Sarfraz Thind that the recent failed auction doesn't spell a death of demand for gilts