Energy
Dealing with a volatile gas market
Eric Fishhaut explores the current state of volatility within the US natural gas market and outlines how hedging with 'strips' can be used to secure long-term prices that are variable, but known
Moves to maturity
While many obstacles to the liquid short-term trading of gas in Europe remain, the market infrastructure is showing some signs of maturing. Oliver Holtaway looks at hub development in the European gas markets
Gateway to Europe
Turkey has ambitious plans to open its rapidly-growing gas market up to competition. Yesim Akcollu looks at how realistic these plans are
GMO's emerging market high-flyers
Bill Nemerever and Tom Cooper, co-managers of GMO's emerging markets debt portfolio, have made their names sourcing cheap debt in unusual locations. Shunning roadshows and local currencies, they barely even travel to the countries they invest in. Dalia…
Italian telco Wind whips up a storm in credit markets with mammoth PIK note
The EUR1.7 billion record-breaking payment-in-kind deal priced well inside guidance levels, but there is concern that investors are underestimating the credit risk of such deals
CPDOs: A volatility game
A triple-A rated structure that pays Libor plus 200bp. Who wouldn't be interested in such a product? Perhaps the sceptics warning against the 15 times leverage and the instrument's high exposure to volatility. Laurence Neville reports
Regaining control
Features
Buying in bulk
Features
A view on 2007
Viewpoint
SPA newswire
North America
EC takes firm line on emission allowances
As Phase II of the EU ETS comes in to effect, the EC has slashed the national allocation plans of more than ten member states, writes Oliver Holtaway