Foreign exchange
Deutsche Bank revises carbon price forecast – good news for CCS
Deutsche Bank has forecast a 2008 EU Emission Allowance (EUA) price of €40 per tonne, up from €35. The bank says a price of €40 will be high enough to incentivise future power plant and carbon capture and storage (CCS) build.
Bradford & Bingley sells 23% stake after suffering losses
UK mortgage lender Bradford & Bingley has agreed to sell a 23% stake of the company to US private equity firm TPG Capital following announcements of losses for the first four months of the year.
Academy Insight
Corporate statement
From passive to active investments in commodities
Corporate statement
Hedges clipped
Fund-linked derivatives
Falling short
130/30 funds
A tough year
Institutional Investor Rankings 2008
Oil and water do mix
Profile
Covering all angles
Covered bonds
Hedges are growing greener
Opportunities for hedge funds in traditional energy markets are not as common as a few years ago. As a result, some hedge funds are turning to green energy markets in search of price anomalies and arbitrage opportunities, William Rhode discovers…
Russian towards success
Founded in 2000, Lukoil International Trading & Supply Company (Litasco) has become one of the world's leading oil and products traders. Gati Al-Jebouri, CEO of Litasco, tells Roderick Bruce about his company role
Utilities seek new credit structures
As US utilities bail out of the auction market, they are turning to enhanced credit structures to refinance bond issues. Catherine Lacoursiere reports
The good, the bad and the ugly
Last month saw US asset manager Pimco triple its holding of mortgage debt, UBS sell subprime loan positions worth $22 billion to a new fund managed by BlackRock, and HBOS get the first residential mortgage-backed securitisation issue in nearly a year off…
Show me the money
Default Modelling
No more special treatment
Accounting
Pimco makes big mortgage debt bet
Guarantee of Freddie Mac and Fannie Mae prompts Gross to raise exposure to mortgage debt
Prime suspect
Knowing the exact quality of the loans in a securitisation pool is key if investor appetite for mortgage securities is to return. Chris Ames, an asset-backed portfolio manager at Schroders, discusses what's prime, what's not, and what has to happen for…
Solid as a rock
Distressed Debt
S&P may cut Moody's ratings
Coding error elevated debt products' rating; Moody's initiates a thorough review of its processes
Cost of liquidity
Liquidity
Through the looking glass
ABS Valuations