Structured products
Parmalat CDS spreads hit 47% after six-notch S&P downgrade
The cost of five-year credit protection on debt issued by Parmalat closed at 4,000bp/4,300bp above Libor today after rating agency Standard and Poor’s (S&P) cut the Italian dairy company’s credit rating to 'C' – its second-lowest rating.
EU moves to finalise CAD
With 130 responses to its latest draft of the capital adequacy directive (CAD) now in hand, the EU Commission is looking to make the directive into law.
SG to offer UK retail investors exposure to China
French investment bank SG, part of Société Générale, will offer UK retail investors exposure to the performance of Chinese equities from tomorrow with the launch of a new warrant linked to the Hang Seng index.
European corporate credit to remain fragile, says S&P
The creditworthiness of European companies and financial institutions is unlikely to recover significantly next year, rating agency Standard & Poor’s (S&P) said today.
Flexible bonds
New frontiers
Malaysia requires price transparency, says Fitch
New frontiers
Energy bill enters into Senate
New frontiers
FirstEnergy to blame for US blackout, say reports
New frontiers
TVA will go bust, say academics
US academics say that the Tennessee Valley Authority would be close to bankruptcy if it were not for the promise of a government bailout, reports Paul Lyon
Degreasing palms
New frontiers
Nuclear renaissance
New frontiers
SG enters HK retail hedge fund market
SG is looking to dispel some of the myths surrounding the dangers of hedge funds with the launch of its first hedge fund product aimed at Hong Kong’s retail investors.
Kamakura upgrades credit default prediction software
Hawaii-based risk technology vendor Kamakura has upgraded its default probability calculation software.
Fitch launches online credit derivatives tool
Fitch, the international rating agency, today launched a new web-based service providing data and analysis for the credit derivatives market.
Australia a hotbed for CLN issuance
Credit-linked notes (CLN) issuance has soared in Australia this year, with the volume of rated notes exceeding A$1.2 billion ($881.3 million) year-to-date, compared with A$240 million in 2002, according to Mei Lee Da Silva, credit analyst in Standard and…
Dow Jones unveils Trac-x Europe high-yield index
Dow Jones Indexes today gave details of the portfolio for the new Dow Jones Trac-x Europe high-yield index. The index consists of the 25 most liquid European high-yield credit default swaps, and contains many well-known names such as British Airways,…
FSA chief hits out at structured products
Financial Services Authority (FSA) chairman Callum McCarthy has warned of the dangers of banks selling complicated financial products to customers who do not fully understand them.
FSA chief hits out at structured products
Financial Services Authority (FSA) chairman Callum McCarthy has warned of the dangers of banks selling complicated financial products to customers who do not fully understand them.
a changing landscape
Derivatives debate
Patience pays off
Platinum Capital Management has launched a new distressed debt fund after a long process of analytical research
Japan comes of age
As the economic climate changes in the Land of the Rising Sun, hedge funds are rapidly expanding to become a high-profile investment option
Pole position
Refco Alternative Investments is knocking on pension funds‘ and institutional investors‘ doors with a range of diversified and single strategy funds of hedge funds, and a passive indexed product, too