Infrastructure
Markets indifferent to Amex conversion as auto-maker bail-out looms
Credit spreads on American Express debt narrowed marginally yesterday while equity prices hit a new low as US markets were largely unmoved by news of the credit card company’s conversion into a bank holding company.
Icap releases guidance on OTC markets
The future course of the over-the-counter derivatives markets will depend on the simplification and overhaul of existing infrastructure so that it becomes more transparent, Risk heard at an Icap press briefing this morning.
Treasury and Fed help AIG lay-off CDO risk
AIG was shored up by a restructuring plan hammered out by the US Treasury and Federal Reserve Bank of New York today, which involved the creation of an off-balance-sheet vehicle to neutralise some of the insurer’s hefty collateralised debt obligation …
Quant Congress Europe: VAR models still essential
Despite criticism over the accuracy of value-at-risk models through the financial crisis, chief risk officers speaking at Quant Congress Europe said they were still invaluable.
Renewables call for transmission build
Many US states have ambitious renewable energy targets, but billions need to be spent on transmission infrastructure if this new power is to come on line. Susan Arterian Chang looks at the challenges involved in creating the interstate transmission…
Arc unveils latest range of core products
Arc Capital and Income has launched the latest offering of its three core products, comprising the Bricks and Mortar Plan two, the Bull and Bear Enhanced Investment Plan five and the Fixed Income Plan nine.
How low can it go?
Oil prices have lost almost half their value since thesummer as the turmoil in the global financial marketsrages on, causing many analysts to revise down theirforecasts. Pauline McCallion finds out what they areexpecting for next year and beyond
Shale shake-up
With high natural gas prices, volatility and fewer financingoptions, shale gas developers are de-risking through jointventures and more aggressive hedging programmes. CatherineLacoursière reports
Where next for oil prices?
Despite recent steep losses, oil remains in a long-term uptrend, although this is under serious pressure. A technical analysis suggests risk remains greatest to the downside, writes David Linton of Updata
DTCC launches weekly CDS update
The Depository Trust and Clearing Corporation (DTCC), the largest derivatives clearing house in the US, released its first weekly snapshot of the credit derivatives market yesterday.
Energy traders clash with regulators
In the wake of the credit crunch, energy trading executives have clashed with regulators over the potential imposition of what they see as onerous trade data reporting obligations.
November target for CDS central counterparty
Dealers have pledged to the Federal Reserve Bank of New York to begin using a central counterparty for clearing credit derivatives by the end of November.
Investors' interest intensifies in hedge funds as countries compete for business
With vast sums looking for attractive investment opportunities, the Middle East is ripe for hedge fund development. While there are significant challenges still to overcome, liberalisation and the development of viable financial service centres are…
High five for distressed investors
There is a celebratory mood amongst distressed debt investors. Having spent several years scratching around for opportunities in a raging bull market, their cup now runneth over. We profile five leading funds in the distressed arena
Collateral damage
The practice of posting collateral against the risk of failed derivatives trades may protect dealers from the worst of the losses arising from Lehman's bankruptcy, says Joseph Pimbley. But what about trades that were not covered by such collateral…
Lawmakers take aim at CDS market
Regulators have been threatening the credit derivatives market with draconian new legislation in a bid to curb practices that supposedly exacerbated the current turmoil. But the lawmakers' belligerent comments are somewhat akin to closing the windows…
Rebooting the dollar market
Issuing a $4 billion deal in the climate of fear and uncertainty that characterised October's primary market required courage. Yet someone was needed to break the deadlock and IBM stepped forward. Simon Boughey looks at the deal's effect on the dollar…
Joyce Chang
The head of emerging markets research at JPMorgan talks to Dalia Fahmy about how the sector is adapting to the upheaval in the the global markets
Chris Crowley
October was the month that the credit event auction process was tested to its limits, with Lehman Brothers, Fannie and Freddie, and WaMu all undergoing settlement. Credit spoke to the strategy manager at Creditex to find out how the process bore up…