Germany
Lack of co-ordination contributes to European market sell-off
The Bafin decree on short selling in May signalled a lack of agreement by European regulators, say participants
Self-referencing CDS risk?
Ballooning credit default swap spreads on European sovereigns have encouraged some market participants to sell credit protection on their own country. But how much is this protection really worth, and could this selling contribute to systemic risk? Mark…
German economic strength 'a fallacy': Charles Dumas interview
The Lombard Street Research chairman tells Credit the German economy is far weaker than has been supposed.
Highland Capital boss slams shorting restrictions for exacerbating volatility
Credit fund veteran Mark Okada says Bafin restrictions on short selling have increased market volatility
Germany cuts euro and equity derivatives ban
Germany narrows shorting ban
BaFin shorting ban may contain loopholes for investors
German restrictions on short-selling of governments, CDS and financials may not be as bad as feared.
World Cup infects structured products
How much can investors earn if their national football teams perform well at the Fifa Football World Cup? Buy a structured product based on the fortunes of your favourite team and find out, says Richard Jory, speaking at a lunch meeting held in London on…
Naked shorts to be allowed ahead of bund auctions
Dealers reassured that Bafin short selling ban will not prevent pre-hedging of debt purchases
Bafin shorting ban may be narrower than feared
Lawyers say decree appears limited
Market puzzled by Bafin ban
Traders incredulous as Bafin acts unilaterally to calm “extraordinary volatility”
Eurozone sovereign CDS spreads widen amid continuing contagion fears
Widening continues on eurozone CDS spreads as Australian banks feel the pinch from the Greek debt crisis
Inflation issuers face Greek fallout
Issuance of sovereign inflation-linked bonds is expected to reach record highs this year as governments struggle with vast fiscal deficits. With investors shaken by the crisis in Greece, however, some issuers may have to draw on the lessons of the crisis…
Banks run eurozone crisis scenarios as Greece founders
With markets anticipating a Greek debt restructuring, bank traders and risk managers are preparing for a wider crisis that could drag in northern European countries, tip the euro into a tailspin or even threaten the eurozone’s integrity.
Sovereign default the greatest threat: IMF
Sovereign default risk has soared and is the biggest threat to near-term stability, some segments of banking systems also present dangers
Greece’s $40 billion bailout an improvement, but issues remain
Markets soothed as firm details of Greek rescue plan are announced, eurozone will provide €30 billion at discounted 5% rate for year forward, analysts less convinced
Second-hand values
The demand for transparency and liquidity makes trading in and out of a structured product extremely attractive to investors. This has resulted in healthy secondary markets across Europe, so why has the UK been so slow to emulate its continental…
European power: Achieving transparency in Germany
Energy Risk’s series on European power markets focuses this month on Germany, Europe’s biggest power market and one of the best examples of market transparency. Rachel Morison looks at what can be learnt from it
