Credit markets
CDS: US bank levels blow out
Credit default swap 5-year mid-levels for structured products issuers (Friday February 20)
CDS: European banks continue to widen; US banks tighten
Credit default swap 5-year mid-levels for structured products issuers (Monday February 23)
Liffe blames regulatory uncertainty for lack of CDS clearing
Despite being the only firm to launch a centralised clearing platform for credit default swap (CDS) index trades, London-based derivatives exchange NYSE Liffe has yet to clear any trades, a situation it blames on the uncertain regulatory landscape in…
LCH.Clearnet bid sparks conflict-of-interest debate
A proposal by a consortium of major derivatives dealers to acquire London-based clearing house LCH.Clearnet has led to suggestions that banks becoming intimately involved in the clearing process could present a conflict of interest.
Trichet: Eurozone CCP will help improve oversight
European Central Bank president Jean-Claude Trichet backed a central counterparty (CCP) for clearing credit default swap (CDS) trades in the eurozone today, in a speech that also called for banker compensation to be linked to avoiding excessive leverage.
Confidence in European insurers drops
The cost of credit protection on the subordinated debt of European financial institutions rocketed in early trading today, with insurers hit particularly hard.
Banks agree to EU CCP for clearing CDS
Daily news headlines
Financial CDSs widen worldwide
Fading investor confidence in the stability of financial institutions has caused the cost of credit protection on banks across the globe to increase over the past 24 hours.
CDS: Citi continues to widen
Credit default swap 5-year mid-levels for structured products issuers (Thursday February 19)
Banks agree to EU CCP for clearing CDS
Nine major dealers agreed to use an EU central counterparty (CCP) for clearing trades in credit default swaps (CDSs) today, paving the way for talks to resume with the European Commission.
CDSs on Fortis tighten
The cost of credit protection on Dutch and Belgian bank Fortis narrowed this morning, after Fortis chairman Jozef de Mey and BNP Paribas chief executive Baudoin Prot told media the takeover deal between the two banks is still alive.
Auction fixes low recovery rates for Smurfit-Stone CDS
At an auction held today, data vendor Markit and broker Creditex determined final settlement values for credit derivatives trades referencing St Louis- and Chicago-based paper-packaging company Smurfit-Stone Container.
CDS: Citi leads widening; RBS stable
Credit default swap 5-year mid-levels for structured products issuers (Wednesday February 18)
MBIA lances structured finance from municipal business
Monoline insurer MBIA has split itself into two, creating a new business focused solely on US public finance bond insurance while siphoning off its festering structured product commitments into a separate legal entity.
CDSs on Irish banks widen further
The cost of credit protection on Irish banks rose steeply this morning as the European Commission warned Ireland's budgetary deficit could widen to 9.5% of GDP by the end of 2009.
CDS: European banks lead widening
Credit default swap 5-year mid-levels for structured products issuers (Tuesday February 17)
Exposure to eastern Europe hurts German bank CDSs
The cost of credit protection on many European banks has risen on concern over their exposure to deteriorating economic conditions in eastern Europe.
CFTC acts to shut out grain futures speculators
The US Commodity Futures Trading Commission (CFTC) has approved new rules designed to reduce distortions in the soft commodity futures markets caused by speculative activity.
CDSs widen on UK banks
Credit derivatives referencing UK banks continued to widen this morning, following a week in which Lloyds TSB announced it will absorb a £10 billion loss due to its merger with HBOS.
CDS: Barclays, Citi widen; other US banks remain stable
Credit default swap 5-year mid-levels for structured products issuers (Friday February 13)
CDS spreads widen on Ireland
The cost of credit protection on Irish sovereign debt rose to record levels in early trading today.
CDS: Citi, Morgan Stanley widen by more than 5%
Credit default swap 5-year mid-levels for structured products issuers (Thursday February 12)
CDS spreads on financials widen again
The cost of credit protection on US and European financial institutions rose in early trading today, despite falling on Wednesday on news of a plan by the US treasury to purchase $1 trillion worth of illiquid assets.
CDS: Citi, Goldman and Morgan Stanley tighten
Credit default swap 5-year mid-levels for structured products issuers (Wednesday February 11)