Citi
Trading and one-off gains lift bank profits
Trading activities and one-off gains helped US banks record positive results during the week ending July 17, despite a continuing deterioration in traditional lending businesses, analysts said.
Citi in secret FDIC deal over governance problems
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High correlations spur interest in CCDS
Interest in using contingent credit default swaps (CCDS) as a speculative tool is being fuelled by high levels of cross-asset class correlations, according to some market participants.
US Wrap: Tentative reverse convertible issuance from Citi
Citi issued two reverse convertible products in the US market yesterday in a cautious offering of the riskier structures. The notes link to the stock of either JP Morgan or Research in Motion, which makes BlackBerry devices, lasting one year and six…
US regulatory reforms will target the big players
The Obama administration’s proposals on regulatory reform make it clear that, in future, size will matter to the regulation of US financial firms.
Credit market won't be fazed by GM bankruptcy, say analysts
Despite its size, the largest industrial bankruptcy in US corporate history is unlikely to have much of an effect on the credit derivatives markets, suggest analysts.
CDSs on European and US banks continue to widen
The cost of credit protection on financial institutions increased today across Europe and the US. The move came after the Bank of England's quarterly inflation report showed UK GDP growth was slower than expected in the first quarter of 2009 yesterday,…
BoE inflation report pushes CDSs on European financials wider
The cost of credit protection on European financials increased this morning following the release of the Bank of England's quarterly inflation report. The report conceded UK GDP growth had been slower than expected in the first quarter of 2009, and…
CDSs on US financials narrow
Market sentiment towards US banks improved today, with the cost of credit protection on six of the nation's largest financial institutions falling. The move came on the same day Bank of America (BoA) was reported to have raised $7.3 billion from selling…
CDSs on US banks widen
The cost of credit protection on US banks increased this morning, having fallen - in some cases by as much as 50 basis points - on Friday after the announcement of the US government's stress-test results last week.
Stress test results boost CDSs on financials
In early US trading on Friday, the cost of credit protection on financial institutions fell markedly following yesterday's publication of stress test results by the US government. In contrast to earlier pessimistic predictions - some of which had…
US banks require $74.6 billion in additional capital, stress tests reveal
Ten US banks collectively require an additional $74.6 billion in additional capital to insulate against possible losses over the next two years, the results of US government stress tests show.
CDSs on financials tighten on positive results
The cost of credit protection on European banks fell this morning ahead of the US government releasing the results of its stress tests on 19 US banks, helped by positive interim reports from UK banks.
NYSID causes first monoline CDS default
An auction is to be held to settle credit derivatives linked to Syncora, the monoline formerly known as XL Capital Assurance, after a committee declared a credit event to have occurred on the firm on May 1.
CDSs on European financials tighten on positive Fed comments
The cost of credit protection on European financial institutions fell this morning following the US Federal Reserve's announcement yesterday that the economic outlook is improving.
Citi asks US Treasury permission for bonuses
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CDSs on Chinese financials tighten on positive corporate results
The cost of credit protection on Chinese banks fell this morning as a series of positive results for Chinese corporates boosted the Shanghai Composite Index 2.78% and Hong Kong's Hang Seng Index 2.76% in overnight trading.
CDSs on Australian financials widen
As National Australia Bank - Australia's largest bank by assets -predicted a grim economic outlook for the country, the cost of credit protection on Australian financials rose this morning.
CDSs on airlines widen on swine flu fears
The cost of credit protection on major airlines increased this morning, as fears mounted that tourism would decline due to the swine flu outbreak in Mexico.