Credit markets
CDS: Spreads narrow on financials, Morgan Stanley tightens 10%
Credit default swap 5-year mid-levels for structured products issuers (Monday March 16)
CME’s CDS platform approved
The Chicago Mercantile Exchange Group (CME) received the green light from the Securities and Exchange Commission (SEC) on March 13 to clear credit default swaps (CDSs), but now faces the hard task of getting customers to sign up to its platform.
US financials move on Bernanke prediction
The cost of credit protection on US and European financials fell in intraday trading, following US Federal Reserve chairman Ben Bernanke's prediction yesterday that the US economy will "see recovery beginning next year".
CDS: Spreads on US financials narrow
Credit default swap 5-year mid-levels for structured products issuers (Friday March 13)
European financials hit by further decline in confidence
European financial institutions experienced a further decline in market sentiment today, while the cost of credit protection on sovereign debt fell in intraday trading.
CME Group one step closer to CDS clearing
US exchange operator Chicago Mercantile Exchange (CME) Group has come one step closer to entering the credit derivatives market by signing a deal to clear credit default swaps (CDSs) on financial information services company Markit's CDX and iTraxx…
CDS: UK bank spreads widen
Credit default swap 5-year mid-levels for structured products issuers (Thursday March 12)
Isda launches hardwiring supplement for CDS settlement auctions
In its final move to incorporate the settlement of credit default swaps (CDS) with cash auctions into standard contracts, the International Swaps and Derivatives Association published its auction settlement supplement today.
Dealer predicts 85% of CDSs could be centrally cleared by end of 2009
The head of credit derivatives at a major dealer has told Risk he expects to see 35-40% of the credit default swap (CDS) market centrally cleared by the end of June, and as much as 85% by year's end barring any unforeseen mishaps.
European financials hit by declining confidence
The cost of credit protection on European financial institutions climbed in intraday trading today as market sentiment slumped.
CDS: Spreads continue to narrow on US banks, BofA tightens 13%
Credit default swap 5-year mid-levels for structured products issuers (Wednesday March 11)
Sentiment improves towards US banks
The cost of credit protection on US banks fell in intraday trading today as the government looks set to relieve them of their impaired assets.
CDS: Spreads tighten on US banks
Credit default swap 5-year mid-levels for structured products issuers (Tuesday March 10)
Senior Supervisors Group: CDS auction process working
A report released on March 9 by the Senior Supervisors Group (SSG) suggests the auction process for settling credit default swaps (CDSs) - tested several times over the past six months - is working.
CDS spreads narrow on US financials
US financials faced improved market sentiment in early European trading today, while the cost of credit protection rose on Japanese banks.
Bernanke calls for regulatory overhaul of financial system
An overhaul of how the government regulates the financial system is required to prevent future economic crises, said US Federal Reserve chairman Ben Bernanke in a speech delivered before the Council of Foreign Relations in Washington today.
Japanese CDO market shrinks in 2008, says Moody's
The collateralised debt obligation (CDO) market in Japan last year contracted by 12% to about ¥1 trillion ($10.2 billion) in terms of deals rated by Moody's Investors Service.
CDS: No respite for BofA and Citi
Credit default swap 5-year mid-levels for structured products issuers (Monday March 9)
Ice launches US CDS clearing service
Atlanta-based derivatives exchange IntercontinentalExchange (Ice) launched its credit default swap (CDS) central clearing platform on March 9 after receiving the green light from the Securities and Exchange Commission (SEC) on March 6.
Low recovery rates set for Aleris International LCDS
Final settlement values for credit derivatives trades referencing Ohio-based aluminum products manufacturer Aleris International were determined during an auction held today by data vendor Markit and broker Creditex.
Industrials strengthen but US financials weaken on CDS markets
Bond insurance on industrial companies worldwide grew cheaper today, but several financials saw their credit weaken.
CDS: Citi's spread continues to climb toward 600bp
Credit default swap 5-year mid-levels for structured products issuers (Friday March 6)
CDS spreads widen on eastern European sovereign debt
The cost of credit protection on the senior debt of some eastern European states rose again in early trading today, while also rising on European insurers.