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Civil suit filed against Bayou, task force planned

The US Attorney for the Southern District of New York, David Kelley, has filed a civil complaint against Bayou Management – a Stamford-based hedge fund manager. In the complaint, filed yesterday, Kelley requested that the firm's funds be frozen.

Auto CDS trades still dominate US market

The US credit default swap market continues to be dominated by contracts based on the debt protection of automobile and auto parts manufacturers, indicating the unpheaval caused by the downgrades of Ford and GM in May have not yet died away.

A perfect storm

Hedge fund investors have pulled billions of dollars out of convertible arbitrage strategies over the past year, but some managers now reckon the market has bottomed out. Is the strategy turning the corner? By Duncan Wood

Markit adds base metals to valuations tool

London-based Markit has added valuations for base metals derivatives traded in London to its Totem service. Until now, its commodity valuation service covered a range of energy contracts and precious metals.

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