Credit markets
CDSs tighten on European auto industry
The cost of credit protection on European auto manufacturers fell this morning, while rising to record highs on Japanese corporates.
CDS: Goldman Sachs, Morgan Stanley, BoA spreads tighten
Credit default swap 5-year senior mid-levels for structured products issuers (Monday January 26)
Quantitative tests pointed to Madoff fraud, says Riskdata
Sophisticated investors expressed shock at the alleged $50 billion fraud by New York-based broker and fund manager Bernard Madoff, yet even relatively simple quantitative analysis should have raised red flags, according to research by London-based…
Babson Capital Management expands new business arm
Massachusetts-headquartered Babson Capital Management has expanded its global business development arm, with the additions of Paul Gehrig and David Acampora.
European financials fare better in CDS market
The cost of credit protection fell on European financials and Spanish commodity players in this morning's trading.
CDS: European banks widen
Credit default swap 5-year senior mid-levels for structured products issuers (Friday January 23)
Mixed market sentiment for financials
The cost of credit protection fell on European financials and rose on Middle Eastern banks in this morning's trading.
CDS: Levels for Wednesday and Thursday flat ahead of the weekend
Credit Default Swap 5-year senior mid-levels for structured products issuers (Wednesday January 21 & Thursday January 22)
BoJ plans to inject $34bn to aid corporate funding
The Bank of Japan (BoJ) has become the latest central bank to unveil plans aimed at bolstering the corporate debt market, with plans to buy up to ¥3 trillion ($33.7 billion) of outstanding commercial paper (CP) to help ease funding pressure suffered by…
Cash-settlement auctions working, says Isda
The auction process for cash-settling credit derivatives trades has been tested recently but is working well, said Bob Pickel, chief executive of the International Swaps and Derivatives Association, at a symposium held by the organisation in New York on…
CDSs widen on European insurers
The cost of credit protection on European insurance and reinsurance companies rose in this morning's trading.
S&P unveils CDS indexes
Index provider Standard & Poor's Index Services (S&P) has launched three US credit default swap (CDS) indexes designed to evaluate the performance of the credit derivatives market.
CDS: Levels are only going wider
Credit Dafault Swap 5-year mid-levels for structured products issuers (London close, Tuesday January 20)
S&P launches CDS indexes on US market
Index provider S&P has launched three S&P CDS US indexes, which are designed to provide exposure to the performance of the US credit default swap (CDS) market. The indexes can be used as underlyings for financial instruments such as structured products…
Buy-side firms scramble to meet novation deadline
Derivatives technology vendors have reported a significant upturn in activity among buy-side firms, looking to meet a February 28 deadline for processing all credit derivatives novation consents through electronic platforms.
CDSs widen on Australian banks, Spanish energy
The cost of credit protection on Spanish energy firms and Australian banks soared in early trading this morning while market sentiment towards US auto makers improved.
CDS: RBS holds in at 124.3bp despite share sell-off
Credit Default Swap 5-year senior mid-levels for structured products issuers (Monday January 19)
Sovereign CDSs at record levels
The cost of credit protection on the sovereign debt of Spain, Portugal and Ireland reached all-time highs in intraday trading this morning.
CDS: Closing levels for January 16
Credit Default Swap 5-year senior mid-levels for structured products issuers (Friday January 16)
DTCC to publish more CDS data
The Depository Trust and Clearing Corporation (DTCC), the largest derivatives clearing house in the US, is to expand the data it publishes on the credit derivatives market.
Banks tighten conditions on revolving credit extensions
More stringent terms and conditions are being attached to revolving credit facilities (RCFs), although banks are still extending them to investment-grade corporates. Analysts and bankers agree that RCFs are becoming more expensive and smaller and will…
CDSs widen on Spanish banks
The cost of credit protection on a wide range of firms fell in early trading today, while spreads widened on Spanish financials and US sovereign debt.
CDS: Citi tightens but remains wide at 346.2bp
Credit Default Swap 5-year senior mid-levels for structured products issuers (Thursday January 15 2009)
Euro Libor falls on ECB rate cut
Three month euro Libor dropped 20bp over the week to 2.45% today from 2.65% on Monday, January 12, following Thursday's 0.5% cut in interest rates by the European Central Bank, while sterling and dollar Libor remained stable.