Germany
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
Energy Risk: What's coming next?
Energy Risk brings you a snapshot of what's moving and shaking the markets.
Markets shaken by emissions trading certificate hackers
Market participants are worried they could be holding fraudulent European Union carbon allowances (EUA), after computer hackers launched an alleged phishing attack on the German Emissions Trading Authority (DEHSt).
Maintaining interest
Axa IM has found its own ways to reduce counterparty risk and overcome the problems caused by low interest rates. It is now confident there will be a return to structured products. Clare Dickinson reports
EEX wins primary auction contract for German EUAs
The European Energy Exchange (EEX) will run the primary auction for European emission allowances (EUAs) in Germany on behalf of the German Federal Ministry for the Environment starting in January 2010.