Credit markets
CDS: Spreads narrow for every issuer
Credit default swap 5-year mid-levels for structured products issuers (Wednesday May 6)
First insider-trading case for CDS market
On May 5, the US Securities and Exchange Commission (SEC) filed the first civil action for insider trading involving credit default swaps (CDS).
Credit market buoyant in the face of stress tests
Market sentiment towards US financials improved in European trading despite continuing speculation that some US banks will need to raise significant amounts of extra capital.
CDS: Europe narrows while US banks widen marginally
Credit default swap 5-year mid-levels for structured products issuers (Tuesday May 5)
Iosco blames crisis on rush for yield
Poor incentives, inadequate oversight and a drive for high yield were behind the crisis in the credit market, and securitisation in particular, according to a paper issued today by the International Organisation of Securities Commissions.
Credit derivatives market will follow equity's lead, strategist says
After the collapse of securitised products over the past two years, the credit derivatives market is likely to become more similar to the equity derivatives market, according to Sivan Mahadevan, global head of equity and credit derivatives strategy at…
CDS spreads widen on Korean financials
The cost of credit protection on Korean banks tightened significantly in European and Asian trading today, while remaining steady on US and European financials.
Simple structures
An increase in risk premiums on sovereign debt is giving banks a headache in pricing certain credit-related structured products. Investor appetite for such deals is in evidence, but mainly for simple, unleveraged products. Sophia Morrell reports
Column: Charles Cronin
Flawed models, conflicts of interest, ineffectual leadership: the rating agencies have emerged from the financial crisis with little credit, and reform may strip them further of their influence
Inflated expectations
It may seem counterintuitive, given these deflationary times, but inflation-linked fixed income strategies are proving a hit with investors as fiscal stimulus raises the threat that inflation will take over in the medium term. William Rhode reports
Financial pricing for the 21st century
Putting a price on assets for which no active market exists is a process mired in complexity and no little controversy. But the pricing models of yesteryear are simply not up to the job. David Patrikarakos looks at the new generation of valuation models…
Column: Paul Taylor
Ratings downgrades reflect a decline in creditworthiness, not an admission that the ratings were wrong in the first place. But that doesn't mean the rating process can't be improved. Paul Taylor
Back to basics
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask ... Susan Hinko of TriOptima explains multilateral terminations
Ellen Marshall
The co-chair of the banking and financial industry practice group at US law firm Manatt, Phelps & Phillips speaks to Matthew Attwood about the securitisation industry
It's payback time
If you still wake up in a cold sweat, haunted by the memory of opening your 2008 bonus slip, you're not alone. Credit professionals across the board saw their bonuses slashed last year. But not all banks were forced to scale back their remuneration…
The sovereign state
While the sovereign market has in the past been most readily associated with rates investors, it has always been a key part of the credit sector, most importantly as a benchmark for the pricing of corporate bonds. But credit default swap levels on…
Legal Spotlight
CDS dealers are under pressure to come up with a market-led solution to the clearing conundrum before regulators force one on them. Peter Green and Jeremy Jennings-Mares report
Big bang: new dawn for CDS market
The 'big bang' protocol, which changes the way credit derivatives are quoted and traded, may have brought a CDS exchange one step closer
A downward spiral?
Markets
Counting on Kotak
Kotak Mahindra Bank
Exchange-traded transparency
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