Opinion
Talking Point - Risk repricing
Does the recent slump in bond issuance, combined with a slowdown in LBO financing, signal a period of indigestion or the beginning of a repricing of risk? (NB views received by August 17)
The bear essentials
The recent subprime-related volatility has been an eye-opening - not to say eye-watering - experience for many. Now the foundations have been laid for a bear market come 2008
Patience, the greatest virtue
Investors may be tempted to dive in and take advantage of widening credit spreads, but on the evidence of previous credit cycles the greatest rewards may go to those who bide their time
The consequences of risk-based regulation
Editor's Letter
Catching a credit cold
Comment
Subprime crisis shows why firms need ORM
It's hard to not be a bit worried by the subprime crisis and the spin-off events that have cascaded through the financial markets over the past few weeks. And it is ironic that the crisis kicked off in the US, where regulators have made such an unholy…
Lagging risk management
The rate of growth in the complexity of new derivatives products is causing a worrisome lag in risk management's ability to keep pace. As credit derivatives markets endure a period of stress, this lag could have serious consequences, argues David Rowe
Credit contagion
Editor's letter
Picking up the pace
Comment
Is it really alpha?
Hedge funds often characterise their mission as the pursuit of pure alpha. A growing body of research, however, argues that a significant proportion of observed hedge fund returns are really alternative beta. David Rowe considers the implications for the…
How operational risk protocols can forestall disaster
Could the subprime mortgage crisis – now estimated to have cost between $50 billion and $100 billion – be the opportunity that the discipline of operational risk has been waiting for?
Drowning in liquidity
Our fascination with liquidity tells us a lot about the psychology of the financial markets
Government bond yields
Talkingpoint
Legal Spotlight
Powers extended to the new pensions regulator in the UK may make it more difficult for some merger and buyout transactions to take place. Bob Buhr explains how credit investors may stand to gain
Market Graphic - Subprime haircuts
Matt King, global head of credit products strategy at Citigroup in London, explains how CDOs of ABS will be vulnerable to forced selling if subprime haircuts rise
Editor's letter
Editorial