Infrastructure
Winding down
Prepayments
What happens next?
As a steady stream of analysts and industry experts continue to issue dismal forecasts for US house price appreciation, adjustable rate mortgage resets and the broader economy as a whole, Ajay Rajadhyaksha, head of US fixed income strategy at Barclays…
The tough go shopping
Investors
Surface tension
Swaps
Siv troubles endure as banks revise super-conduit plan
The troubles facing structured investment vehicles are leaving new issuance in the mortgage markets looking shaky. It is unclear whether plans to create a super-Siv to bail them will succeed
Rise and fall
House price movements are set to become the dominant factor determining what US mortgage banks lend in future. Understanding house price appreciation and modelling it accurately has never been so critical. William Rhode reports
First in the firing line
Regulation
Loan modifications remain limited, say rating agencies
Servicers may lack the manpower or the incentive to head off rising delinquencies as 2006 loans reset
Regulator warns: plan for the worst
The UK's Financial Services Authority has warned lenders to prepare sooner rather than later for the threat of funding markets staying shut. Rob Mannix reports
Deal of the month
Volkswagen leasing
The Big Interview: Ian Bell
S&P's European structured finance head defends the agency over accusations that they could have done more to anticipate this summer's crisis. He talks to Matthew Attwood
Profile: Arthur Calavritinos
Arthur Calavritinos runs one of the top-performing high-yield bond funds in the US, the John Hancock High Yield Fund. He tells Dalia Fahmy about the investment strategies that he hopes will insulate his investments against the current credit squeeze
Talking point - Structured finance CDO downgrades
In October one rating agency downgraded over $10 billion in US structured finance CDOs. Against a backdrop of further negative rating actions, Credit sought reaction from market participants
Markit group buys up iTraxx/CDX index family
The London-based data provider signs a deal to buy the credit derivatives indices from the bank consortia that previously owned and managed them
Back to basics
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask ... Gavan Nolan, credit analyst at Markit Group in London, looks at credit indices
The flight to quality
Global bond investors are seeking out the highest-rated sovereigns amid the liquidity freeze. But, while the investment-grade corporate markets stall, emerging market debt is proving remarkably resilient. By Daniel Andrews
Roundtable: Sounding out the buy side
With the markets still reeling from the liquidity crisis, Credit gathered together three luminaries from the buy side to discuss the effects of the summer slowdown and, more importantly, how things will pan out over the next few months
Gridlock in CDS confirmations
As if banks haven't got enough to worry about, new data from Markit Group shows that the amount of unconfirmed credit derivatives trades has increased sharply, to levels not seen for around two years. Simon Boughey reports
Deal of the month
Gazprom
Moody's rolls out RMBS data tool for Europe
The EMEA PDS tool gives users access to the same kind of deal information for European RMBS that the rating agency's own analysts use
Pricing of critical illness insurance - art or science?
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