Opinion
A gathering storm?
US default rates for high-yield bonds have remained surprisingly low over the past three years. Some argue this indicates that the world has changed, but we have heard this story before, argues David Rowe
Opening and closing
Editor's letter
Editor's letter
Editorial
Plotting the spread cycle
Marketgraphic
Talkingpoint - 2007 outlook
Change is in the air for 2007. A deterioration in credit quality and concomitant rise in default rates may presage a tough year. We asked five leading market participants for their outlook
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... In the second of a two-part series on credit derivatives, Saul Doctor, analyst at JPMorgan in London, discusses next-level CDS
A state of equilibrium
Flows in the tranche market have balanced out - at least for now. Our US columnist StreetCred wonders whether valuation discrepancies may soon upset the applecart
The joys of outsourcing
Editor's Letter
A view on 2007
Viewpoint
The advancing tide of rationalisation
Rationalisation, rationalisation, rationalisation. There is no denying it, this is the major theme in operational risk in the US at the moment, and it is a trend that is spreading to Europe as well.
Prescription vs. principles
Over the past decade, the shift of supervisory practice from prescription towards a principles-based approach has been dramatic. This was a valuable and necessary change, but it has also greatly complicated retaining qualified supervisory staff, argues…
Editor's Letter
Editorial
No cherries left to pick
Selectivity is all well and good when there are viable names to choose from. But what happens when the whole market looks like a negative bet, asks Toby Nangle
Ratings transition matrices
Market Graphic
D-day approaching
The day of reckoning in the credit markets (D-day, or Default Day) is looming, says Amy Falls. The question is not if but when and - as importantly - why?
Jose Antonio Olavarrieta
The chairman of Spanish securitisation originator Ahorro y Titulizacion gives Credit the lowdown on their recent innovative future flow transaction