Structured products
Barclays unveils suite of income and growth plans
Barclays Wealth has launched a new suite of plans, offering a range of protected growth or income products with varying levels of protection. The Protected FTSE Plan offers 1.5 times any rise in the FTSE 100 index up to a maximum return of either 22.5%…
Barcap offers Arabian exposure for offshore bonds
Barclays Capital has launched both the Five-Year Guaranteed Arabia Titans 50 and FTSE 100 Deposits designed exclusively for use within offshore bonds and UK wrap accounts.
Morgan Stanley launches double long and short ETNs
Morgan Stanley has launched two exchange-traded notes (ETNs), the Market Vectors-Double Long Euro ETN and the Market Vectors-Double Short Euro ETN, both of which are traded on NYSE Arca. The ETNs offer leveraged exposure to the euro/US dollar exchange…
Crude nears $126 as speculator debate continues
Crude oil closed at a new record high of $125.96 a barrel on the New York Mercantile Exchange (Nymex) today as market participants moved to rubbish Democratic concerns that speculators were influencing prices.
Rothwell departs JP Morgan
Giles Rothwell has left JP Morgan, where he was global head of structured investments distributor marketing and has been replaced by Beat von Gunten, previously Emea head of structured products for distributor marketing at JP Morgan in London. Rothwell…
Talking Point
Emerging markets
$2.2 billion loss as Fannie Mae mortgage purchases continue
Fannie Mae has posted a $2.2 billion loss for the first three months of 2008 as the government-sponsored entity continues to take a battering for its role in propping up the ailing US mortgage market.
Crude surpasses $123 as Democrats blame speculators
Crude oil closed at a new record high of $123.53 a barrel on the New York Mercantile Exchange (Nymex).
Swiss Re loses another SFr819 million on two CDSs
Zürich-based reinsurer Swiss Re announced it had booked a mark-to-market loss of SFr819 million ($781 million) on two portfolio credit default swaps (CDSs) in its first-quarter results on May 6, and warned that it was likely to lose another SFr200…
LPL financial moves into US independent adviser space
LPL Financial is expanding into the registered investment adviser (RIA) space in the US. The distributor is launching its own integrated adviser platform, with a full range of financial products, including structured products, set to be offered later…
Blue Sky launches second tranche of Accelerated Growth Plan
Blue Sky Asset Management has launched the second version of its Asset Allocation Accelerated Growth Plan II (AAA Growth Plan II) which is designed to out-perform major markets selected by the investor. The six-year plan allows investors to select their…
Financial contracts to make June debut on DME
The Dubai Mercantile Exchange (DME) will launch two financially settled futures contracts for Brent and Oman crude oil for trade date June 2, adding to its existing physically delivered Oman futures benchmark contract.
5,500 jobs to go at UBS as losses continue
UBS will cut 5,500 jobs over the next 12 months as its losses due to subprime exposure continue, the bank announced today.
Isda launches LCDS update protocol
The International Swaps and Derivatives Association has launched the 2008 European loan credit default swap (LCDS) update protocol.
Fed ramps up bank support to $75 billion
The US Federal Reserve has increased the scale of its Term Auction Facility (TAF), intended to provide extra liquidity in the securities market, and has relaxed its criteria for collateral in another support, the Term Securities Lending Facility (TSLF).
Crude posts new high as analysts eye $200/bbl
Crude oil closed at a new record high of $121.84 a barrel on the New York Mercantile Exchange (Nymex).
New governor overhauls South Korea's financial watchdog
Daily news headlines
SG Excels in Hong Kong
Société Générale Corporate and Investment Banking (SGCIB) has launched the SG Excel Notes Series 36, which is designed to provide exposure to a basket of four Chinese equities, for investors in Hong Kong.
NDFA unveils its latest income plan
NDFA has launched the Regular Fixed Income Plan April 08. The five-and-a-half year plan is linked to the FTSE 100 index and offers a fixed annual income of 8% per year. This can be paid in the form of five annual instalments of 8% plus a final payment of…
Deutsche Bank issues four commodity ETNs
Deutsche Bank has launched four exchange traded notes (ETNs) linked to the Deutsche Bank Liquid Commodity index and the Deutsche Bank Commodity Index-Optimum Yield, offering long, short and leveraged exposure to commodities.
Meteor launches protected equity fund
Meteor Asset Management has launched a new capital protected Ucits III fund. The fund provides exposure to FTSE 100 index volatility, with downside protection of 10%.