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Japan CDOs of ABS set for growth
New angles
Early days for indexes
Credit indexes
BoA: single-tranche CDOs compensate well for their risks
The additional spread available from single-tranche collateralised debt obligations (CDO) – compared to other portfolio credit products - more than compensates investors for the particular risks associated with tranched products, claims Bank of America …
Falling volatility could lead to a reassessment of investment strategies, says Morgan Stanley
Investors may have to rethink their investment strategies if credit and equity market volatility continues to fall, according to research by Morgan Stanley.
Does CP3 get it right?
The Basel Committee on Banking Supervision's third consultative paper raises several complex issues, not least of which is: will it work in practice?
A capital adequacy primer
A summary of the Committee of Chief Risk Officers' (CCRO) emerging guidelines on capital adequacy, by Cinergy's Antonio Ligeralde, Kenneth Robinson of El Paso Merchant Energy and CCRO head Michael Smith.
JP Morgan and Morgan Stanley launch Tracx emerging markets
JP Morgan Chase and Morgan Stanley have launched the Tracx Emerging Markets (Tracx EM) index, the latest addition to the Tacx global suite of credit default swap (CDS) indexes created by the two US financial services firms.
Retail credit innovations
Credit derivatives
Isda and BMA propose 35% charge for restructuring risk
The International Swaps and Derivatives Association (Isda) and the Bond Market Association (BMA) submitted a comment letter today to the Basel Committee on Banking Supervision in which they argued that, for the sake of capital calculations, loans hedged…
The cutting hedge
Loan hedging
Does CP3 get it right?
Basel II
Resecuritisation set for rapid growth in Japan, says Moody's
Resecuritisation deals - collateralised loan obligations (CLOs) backed by structured finance securities - are likely to grow in Japan, according to a report issued this week by Moody’s Investors Service.
US credit default swaps and CLN markets recovering, says S&P
The US credit default swaps (CDS) and credit-linked notes (CLN) markets are recovering from a lull in activity, according to rating agency Standard & Poor’s (S&P).
Merrill to launch options on vol swaps
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The dividend divide
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Evolving credit
The flexibility of credit default swaps makes them an invaluable tool for arbitrage, speculation or hedging products
Japanese CJ50 index reaches ¥10 billion on first trading day
The CJ50 index that tracks the movement of Japan’s 50 most actively traded credit default swaps started trading today, with volume reaching beyond ¥10 billion ($83 million), according to BNP Paribas.
Isda and BMA propose 35% charge for restructuring risk
The International Swaps and Derivatives Association (Isda) and the Bond Market Association (BMA) submitted a comment letter today to the Basel Committee on Banking Supervision in which they argued that, for the sake of capital calculations, loans hedged…
North American and Japanese Tracx to debut today
JP Morgan Chase and Morgan Stanley will jointly launch two North American and one Japanese version of their Tracx credit default swap (CDS) index product today.
Accord preparations: the rest is yet to come
While the debates have raged for months about many aspects of the proposed Basel II Accord, on some points there has been relative silence, in particular with regard to the seeming overreliance on statistical techniques.