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Credit risk

Repricing the loan market

The advent of loan CDS trading has highlighted a huge differential between yields on cash and derivatives in this asset class. Laurence Neville asks whether loan CDS will force a major repricing of the cash loan market

Tranche warfare

Many investors have taken a negative view on US subprime mortgages over the past year through credit default swaps. But with the US Congress putting pressure on servicers to modify the terms of loans to help borrowers avoid default, those trades might…

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