Structured products
US Wrap: Royal Bank of Canada unleashes 20 new reverse convertibles
Royal Bank of Canada rushed into the issuance market last Friday with the release of 20 reverse convertibles, based on the fortunes of a whole range US stocks, from General Electric to Google and including the bold move of relating products to financials…
Market frustrated by lack of detail on US toxic-asset purchase plan
Economists and analysts have criticised the US Treasury's updated toxic-asset purchase plan for again failing to provide the granular detail or specified launch date necessary to reassure capital markets the proposals will indeed help curb the global…
Lyxor limits counterparty risk of ETN
Société Générale's Lyxor Asset Management unit is marketing a new exchange-traded note (ETN) that follows the price of gold, which it says will significantly reduce the problem of counterparty risk.
'Technical' factors drive banks back to profit
Major US and European banks are predicting profits for the first quarter of 2009 - but analysts caution that the apparent upturn has more to do with technical factors than a real recovery in performance.
Iosco releases recommendations for hedge fund supervision
Daily news headlines
US Wrap: JP Morgan turns to Europe for growth
JP Morgan has launched an accelerated growth product based on European exposure, as reverse convertible issuance eases off again. The structure, which links to the DJ Eurostoxx 50, is the first of its kind from any issuer this year, as the index…
CDS: Citi and BofA lead widening on US banks
Credit default swap 5-year mid-levels for structured products issuers (Friday March 20)
IndyMac losses put more strain on FDIC funds
Yesterday's sale of failed California mortgage lender IndyMac has left the US Federal Deposit Insurance Corporation (FDIC) with a $10.7 billion bill - weakening its reserves further even as the list of failed banks requiring support continues to lengthen.
CDS: Spreads on US banks widen
Credit default swap 5-year mid-levels for structured products issuers (Wednesday March 18)
CDS: Spreads narrow on financials led by Credit Suisse
Credit default swap 5-year mid-levels for structured products issuers (Thursday March 19)
Iosco joins call for offshore crackdown
The International Organisation of Securities Commissions (Iosco) has joined calls for new capital rules to enforce transparency on offshore financial centres.
Turner report published
Daily news headlines
UBS names new Asia heads as Park and Pang depart
UBS has announced a series of appointments to the most senior roles in its equity derivatives business in Asia. The changes, which were announced this morning in Hong Kong coincide with the departure of Min Park, managing director, head of Equity Risk…
US Wrap: Barclays and ABN pile into reverse convertibles
Barclays Bank and ABN Amro bombarded the US market with reverse convertible notes yesterday, launching 20 of the products between them. It was ABN's first appearance of the week, and its first significant swathe of issuance since mid-February. It…
Blue Sky gets defensive with latest autocallable
Blue Sky Asset Management has launched the third tranche of its FTSE-linked kick-out product. The Capital Accumulator Auto-Call Plan - Defensive Series III, which lasts six years, redeems on its first anniversary with a 7% return, provided that the FTSE…
Fed increases security purchase plans
In an effort to resuscitate private credit markets, the Federal Open Markets Committee stated today that it would purchase up to $300 billion in long-term US Treasury securities over the next six months.
Derivatives counterparties shun Ford and GM
Few banks are now willing to enter derivatives trades with Ford and General Motors, leaving the struggling car manufacturers exposed to further risk.
US Wrap: Market snaps into action to kickstart week
The US market sprang to life yesterday, offering 10 new products, the majority of which were reverse convertibles, with Barclays Bank using the structure to give investors exposure to three different commodities: gold, silver and oil, each represented by…
CDS: Spreads remain stable on European and US banks
Credit default swap 5-year mid-levels for structured products issuers (Tuesday March 17)