Risk Australia Rankings 2010: Tough at the top

No man is an island,as the well-worn aphorism has it – and the same is apparently true of local derivatives markets, too. While Australia sailed through the financial crisis without too much damage, dealers have found their markets shaped this year by forces – and fears – originating far beyond their shores. Australian credit spreads have been pushed out by Europe’s sovereign debt crisis; the Australian dollar has gained on the back of international demand for safe, higher-yielding bonds; local