Structured products
US Wrap: Issuers hit the accelerator
The US structured products market saw a bumper day of issuance yesterday, including five accelerated growth products from JP Morgan and 10 reverse convertibles from Barclays Bank. In total, 22 products were launched by six providers in one of the year's…
CDS: Spreads narrow for every issuer
Credit default swap 5-year mid-levels for structured products issuers (Wednesday May 6)
First insider-trading case for CDS market
On May 5, the US Securities and Exchange Commission (SEC) filed the first civil action for insider trading involving credit default swaps (CDS).
Bair: US should pull back from Basel II
The US should back away from the "highly problematic" Basel II framework and instead turn its attention to fine-tuning the current Basel I Accord, Federal Deposit Insurance Corporation (FDIC) chairman Sheila Bair said yesterday.
La Meer launches integrated operational risk software for hedge funds
Daily news headlines
CDS: Europe narrows while US banks widen marginally
Credit default swap 5-year mid-levels for structured products issuers (Tuesday May 5)
Grail swoops into US ETF market with actively-managed ETF
Grail Advisers has listed its first exchange-traded fund (ETF) on the Arca platform of the New York Stock Exchange (NYSE). The Grail American Beacon Large Cap Value ETF is an actively-managed fund which uses multi-managers to achieve its return, like a…
SP Magazine Survey: UK IFAs want structured products
The first Structured Products survey of the UK's independent financial adviser (IFA) market has thrown up startlingly positive results which endorse the view that investors are becoming tired of the minimal income on offer from other investment tools.
Iosco blames crisis on rush for yield
Poor incentives, inadequate oversight and a drive for high yield were behind the crisis in the credit market, and securitisation in particular, according to a paper issued today by the International Organisation of Securities Commissions.
Credit derivatives market will follow equity's lead, strategist says
After the collapse of securitised products over the past two years, the credit derivatives market is likely to become more similar to the equity derivatives market, according to Sivan Mahadevan, global head of equity and credit derivatives strategy at…
Biofuels get boost from clean energy revolution
The US Government has announced plans designed to boost the use of advanced biofuels through research, investment and the national Renewable Fuel Standard (RFS).
Editor's letter
Editorial
US Wrap: Electric exposures liven up week
Exposure broadened in the US market yesterday as providers launched notes offering exposure to Brazilian equity, international shares and General Electric stock among other underlyings, putting S&P 500 linked products in the minority.
Barclays launches fixed-rate bond
Barclays Capital has launched a new fixed-rate bond which pays a 4% annualised coupon on a yearly basis to investors. The bond has a five-year life, and investors can opt to receive 22% at maturity instead of the 4% yearly income.
NDFA launches latest fixed income trade
UK Distributor NDFA has launched its Regular Fixed Income Plan April 09, which is designed to provide exposure to the FTSE 100 Index. The trade is issued by AA minus-rated Barclays Bank.
BNP Paribas offers Millenium tracker fund
BNP Paribas has launched its Millenium Tracker Fund as part of its Privalto Ucits III OEIC (open-ended investment companies) range. The fund is designed to provide exposure the BNP Paribas Millenium 10 Europe Series 3 Total Return index, which comprises…
Société Générale takes UK warrants out to 2012
Société Générale has issued covered warrants with maturities of 2011 and 2012, its longest maturities to date and beyond the usual three to six months that require rolling over from one product to the next.
New mortgage finance fund listed on NYSE
State Street Global Advisers has launched a new exchange-traded fund (ETF) linked to the performance of companies involved in mortgage finance within US financial services. The SPDR KBW Mortgage Finance ETF tracks the KBW Mortgage Finance Index, which…
Lyxor offers funds of hedge funds in Ucits III wrapper
Lyxor Asset Management, a subsidiary of Société Générale, has launched two new Ucits III funds, the Lyxor Hedge Fund Index and Active Edge funds, which are designed to provide exposure to the hedge fund industry using managed accounts.
The big clean-up
The US Treasury's Public-Private Investment Program aims to cleanse balance sheets of toxic assets and revive financial markets. But questions remain over who will participate, how assets will be priced and how big a dent the scheme will actually make on…
Revitalising the markets
Governments are facing unprecedented pressure to finance bank rescue schemes through huge debt issuance. With supply coming thick and fast, the UK Debt Management Office (DMO) has been steering a hazardous path to place its debt into the markets. Until…
Paying the piper
The Nord Stream pipeline, planned to come online in 2011, will be vital to help Europe meet its future gas demands. However, financing any infrastructure project in the current climate is difficult. Roderick Bruce looks at the challenges facing Nord…
Simple structures
An increase in risk premiums on sovereign debt is giving banks a headache in pricing certain credit-related structured products. Investor appetite for such deals is in evidence, but mainly for simple, unleveraged products. Sophia Morrell reports
