Opinion
New thinking is needed in the hunt for yield
Shrewd management as important as bold investment strategies
Energy traders ignore legal risk at their peril
Legal risk can be disastrous but is hard to tackle, argues Kaminski
CFTC chairman offers hope to derivatives end-users
Massad’s CFTC appears to be moving away from mistakes of Gensler era
Structured credit makes a return as investors seek yield
Credit repacks and collateralised loan obligations back en vogue
L&G predicts central bank divergence on interest rates
ECB rate cut to drive modest recovery in eurozone
Today's fines will scare off tomorrow's white knights
Acquirers are being punished for actions they had no control over
Hull and White on the pros and cons of expected shortfall
Expected shortfall may be more conservative than VAR, but there are backtesting and stability concerns
Fixing the cognitive problems at the root of the crisis
Decision-making failures are being tackled in three very different ways
Strong dollar warning for emerging markets
Investor warn of low forex reserves to short-term external debt ratio
Banks must focus on conduct, not 'conduct risk'
Firms should avoid building new silos in response to FCA rules
Beta often is a "meaningless concept"
When correlation is low, hedge fund investors are "simply wrong" to use beta
European resolution rules mean new headaches for banks
UK banks need to comply with European 'living will' equivalent
Risk-neutral pricing – Hull and White debate Kenyon and Green
XVA specialists spark debate on regulation and risk-neutrality
The fear of being naked
The industry is not finding it easy to give up termination rights
ECB should focus on CDS spreads, not inflation
Eurozone quanto CDS spreads reveal market views on break-up risks
UK has reached the limits of ambiguity
The nation's politics and institutions embody Knightian uncertainty
Culture clash: The reasons behind risk culture failure
The dangers of complacency, excessive risk and management failures
SFC finally takes a stance on professional investors
Regulatory ruling confirms what was expected of private placement regime
Insurers must beware a cash drought
Pressure on liquidity will increase as derivatives trading moves to central clearing
OTC energy derivatives did not cause the crisis
Post-crisis focus must be on solutions, not on apportioning guilt
Market manipulation won’t be stopped by Socrates or Spinoza
Graduates must be warned of the serious risks of market abuse
Renewables in Europe: A roadmap for fundamental reform
Efet board member calls for dramatic overhaul of subsidy regimes
Will billion-dollar fines skew op risk for years to come?
Huge losses will affect risk modelling and capital calculation
CCPs must get familiar with the C-factor
BCBS publishes new approach for calculating default fund margins