News
Goldman equity tanks as fears grow over Morgan Stanley
Shares in former investment banks Goldman Sachs and Morgan Stanley have slid today during volatile trading, despite credit default swap (CDS) spreads on the two firms marginally narrowing .
Fed discusses CDS clearing house options
The Federal Reserve Bank of New York is today in discussions with interested parties over the establishment of a central clearing house for credit default swaps (CDSs).
Citi pulls out of Wachovia deal
Citi yesterday gave up on its attempt to take over Wachovia, ceding the ground to rival bidder Wells Fargo.
Lehman recovery rate set at 8.625%
A final value of 8.625% was set on the bonds of Lehman Brothers today, in an auction intended to cash-settle credit default swap (CDS) trades linked to the toppled dealer.
IMF cuts growth forecasts as outlook turns gloomy
Continuing counterparty risk will slow down the world's recovery from the financial crisis, the International Monetary Fund warned in its latest World Economic Outlook.
UK to lead global efforts to restore stability
UK prime minister Gordon Brown today called on world governments to follow the UK’s example in its efforts to stem the world financial turmoil.
CDS spreads widen in market turmoil
The cost of credit protection on European banks climbed in early trading today as stock markets across Europe and Asia tumbled.
Transparency act remains unclear
Proposed legistlation on US energy market regulation is causing concern amongst traders finds Pauline McCallion
Business as usual for Merrill as BofA eyes prize
Merrill Lynch may have made mistakes in the credit market, but its commodity franchise is a real prize for its prospective owners, finds Energy Risk