Credit markets
Financial CDSs move on stimulus plan
The cost of credit protection on US financial institutions fell in early trading today, following yesterday's announcement by Treasury secretary Timothy Geithner of a $1 trillion toxic asset purchase plan.
Credit Suisse hit by Sfr8.2bn loss for 2008
Credit Suisse recorded a fourth-quarter net loss of Sfr6 billion ($5.2 billion), taking its total net loss for 2008 to Sfr8.2 billion.
CDS: Citi, Morgan Stanley widen
Credit default swap 5-year mid-levels for structured products issuers (Tuesday February 10)
CDS: US banks tighten, European banks remain stable
Credit default swap 5-year mid-levels for structured products issuers (Monday February 9)
Auctions held for CDSs referencing Nortel Networks
An auction run by data vendor Markit and broker Creditex today determined final settlement values for credit derivatives trades referencing Toronto-based telecommunications company Nortel Networks Corp.
Q4 loss of Sfr8.1 billion for UBS
Swiss banking giant UBS reported a fourth quarter net loss of Sfr8.1 billion ($7 billion), bringing its full-year net losses to Sfr19.7 billion. The bank also revealed $16.4 billion of illiquid credit assets had been transferred to the Swiss National…
Cost of protection rises on Japanese firms
The cost of credit protection on Japanese corporates and US insurers widened in European trading today.
CDS: Bank of Americas falls back into line
Credit default swap 5-year mid-levels for structured products issuers (Friday February 6)
Auction sets values on British Vita LCDS
Settlement values for loan-only credit default swap (LCDS) trades referencing UK chemical firm British Vita first and second-lien loans were established today at an auction jointly administered by data provider Markit and broker Creditex.
CDS: Bank of America gaps out to 210.8bp
Credit default swap 5-year mid-levels for structured products issuers (Thursday February 5)
Give us credit
Credit is widely seen as the biggest challenge facing energy risk managers in 2009, with many believing a radical overhaul of existing risk practices is due. Pauline McCallion investigates
CDSs tighten on US banks and energy companies
The cost of credit protection on US banks and energy firms plummeted in intraday trading, while confidence in the Japanese electronics sector continued to decline.
CDS: US banks tighten while European banks remain stable
Credit default swap 5-year mid-levels for structured products issuers (Wednesday February 4)
SNB issues US dollar debt to fund UBS's bad bank
The Swiss National Bank (SNB) will auction its own debt certificates in US dollars to finance its loan to the SNB Stabfund.
Cat bonds issuance expected to pick up
Issuance of catastrophe bonds (cat bonds) is expected to rebound in the early part of this year after a quiet fourth quarter in 2008, according to New York-based reinsurance specialist Guy Carpenter.
Swiss Re seeks capital injection after securitisation hit
Zurich-based reinsurer Swiss Re suffered writedowns of SFr 6 billion ($5.1 billion) linked to its legacy securitisation portfolio, according to its preliminary report for 2008.
Deutsche hit by €1.7 billion equity derivatives losses in Q4
Deutsche Bank confirmed a net loss of €4.8 billion for the fourth quarter of 2008, bringing total losses for the year to €3.9 billion, compared with a net income of €6.5 billion in 2007. Year-on-year net revenues for the quarter fell from €7.3 billion in…
Auction sets final settlement values on Sanitec LCDS
An auction run by data vendor Markit and broker Creditex has determined final settlement values for credit derivatives trades referencing Sanitec first- and second-lien loans.
European CDS regulation 'inevitable' - EC official
Daily news headlines
CDS: Citi continues to widen
Credit default swap 5-year mid-levels for structured products issuers (Tuesday February 3)
The fight is on for LCH
US clearing giant, The Depository Trust & Clearing Corporation (DTCC), insisted on Tuesday that a merger with London-based clearing house LCH.Clearnet would be completed by the end of March, despite a possible rival bid.
Clearing CDS for lift-off
A new single-name North American credit default swap (CDS) contract, due to be launched next month, is expected to bring greater standardisation to the market and pave the way for central clearing.
European CDS regulation 'inevitable' - EC official
The European Commission (EC) is moving ahead with plans to enforce central clearing of credit default swaps (CDSs), despite a plea by the International Swaps and Derivatives Association (Isda) to resume dialogue on the issue.
JP Morgan CDS pricing model to be made available via Isda
JP Morgan's credit default swap (CDS) Analytical Engine will be released as open source code soon via the International Swaps and Derivatives Association (Isda). Isda believes the model - which is used to price CDS contracts - will increase transparency…