Credit markets
Filling the ratings void
Unlike bond investors, structured products investors lack the benefit of industry-standard risk ratings. But with investors, IFAs and distributors all demanding change, Germany's investment banking industry, analytic firms and ratings agencies across…
High risk credits spark recovery swap revival
The high profile bankruptcy protection filing by US auto parts manufacturer Delphi last weekend and the subsequent downgrading of General Motors (GM) by Standard & Poor’s have heightened market interest in recovery swaps, say dealers.
BNP Paribas launches Hong Kong retail credit-linked note
BNP Paribas is today launching its first retail structured note for the Hong Kong market. The Paris-based bank will offer capital guarantees on the performance of the 'Elite Series 1' credit-linked notes, which are issued by BNP Paribas Retail Note…
Creditex and Markit credit fixings used for Delta and Northwest
Creditex and Markit have, in partnership with major credit derivative dealers, conducted credit event fixing to generate cash settlement prices for Delta Airlines and Northwest Airlines, whose bonds defaulted on September 14.
Delphi bankruptcy jolts European credit markets
Michigan-based auto parts maker Delphi’s filing for Chapter 11 bankruptcy protection on Saturday has sparked a frenzied day of trading for the credit markets.
Major dealers issue joint letter to Fed on credit derivatives
The New York Federal Reserve meeting with 14 major dealers on September 15 appears to have succeeded in coercing the industry into taking more concerted action to tackle the mounting problems in credit derivatives confirmation backlogs. Following the…
Cutting out the middleman
Marketing
The keys to CDS success
Electronic trading
A fresh look at credit default swaps
Corporates
Raising the standard
Growth in energy trading has led to a need for better standardisation of contracts and integration of exchanges and trading hubs. But more needs to be done to simplify and streamline the trading process, says Wolfgang Ferse
The credit congress USA
The annual Credit Congress hosted by Credit magazine in New York on September 19-20 took the theme 'Innovations in CDO Structuring and Trading'. Below is a selection of the Congress highlights. Reports by the Credit team
Credit default swaps
Back to basics
Dan Gardner
Q&A
Inside Close Brothers
Profile
Under Scrutiny - Regulators focus on credit
Regulation
Cashflow CDOs contain more CDS, says Fitch
The rating agency reckons around 30% of the collateral in recent CDOs is synthetic
Trouble in paradise
Bondholder Rights
Talking point - The price of oil and its effect on credit
The devastation wrought by Hurricane Katrina has pushed oil prices to highs of nearly $70/bbl. Credit asks market participants what impact this spike in prices has had on the credit market
Asia comes of age
Regional focus