Structured products
Japan Credit Market Update: Spreads tighten in technical correction
Spreads on Japanese credit default swaps were tighter this week, in what traders described as a technical correction after a raft of convertible bond issue hedges in the past couple of months had earlier forced spreads wider.
Credit Markets Update: Tyco curve inverts on CIT spin-off delay concerns
A potential delay to the planned spin-off of CIT, the financial services unit of Tyco, caused five-year debt protection spreads on Tyco and CIT to balloon 200 basis points this week, and Tyco’s credit derivatives swaps curve to invert.
Taking a new career track
CDO managers
The roads to currency overlay
Forex risk
Making the connection
Front-office systems
S&P and LoanX to provide pricing service for illiquid leveraged loans
Rating agency Standard & Poor's and LoanX, an online pricing service for syndicated loans, plan to roll out a new service for pricing the illiquid end of the leveraged loan market by the fourth quarter. The move is important because the US Securities and…
El Paso closes Singapore office amid troubles
Houston-based energy trader and gas major El Paso is closing its Singapore office. The operation, opened in January 2001, was El Paso’s base for its Asian activities, which included investment in local pipeline projects. In 2001, El Paso was the second…
Credit Markets Update: Repsol spreads hit again over Argentina
The cost of protection on Spanish oil company Repsol YPF’s debt widened 50 basis points to 460bp/510bp today, in what traders described as a delayed market response to proposals last Thursday by the Argentine Commission of Energy to impose more…
BNP Paribas ready to launch Pacific Liberté $1.2 billion synthetic CLO
BNP Paribas is poised to launch a $1.2 billion, three-year synthetic balance sheet collateralised loan obligation (CLO) called Pacific Liberté, possibly as soon as this week or next, according to market sources.
ING shelves Spectra synthetic CDO, mulls Japanese synthetic
ING Barings has cancelled, or as one market source put it, “put on hold indefinitely,” its Spectra arbitrage synthetic collateralised debt obligation (CDO). It would have been the first arbitrage synthetic CDO managed by an Asian portfolio manager,…
Sweden’s public pension system makes its first hedge fund investments
The $2.5 billion Seventh Swedish National Pension Fund, or "AP7", which is part of the Swedish national pension fund system, has agreed to allocate $48 million to K2 Advisors, a New York-based hedge fund of funds. K2 says it is the first hedge fund…
Heeding the warning signs
Credit Risk
A whole new ball game
Credit Risk
Higher or lower?
Credit Risk
Avoiding over-exposure
Credit Risk
Insurers play catch-up
Introduction
Guarded optimism hinges on new tools
Catastrophe bonds
Challenging times for CROs
Chief risk officers
The risk transfer shell game
Credit derivatives
Managing post-convergence risks in financial conglomerates
Regulatory capital