Credit markets
Mitsubishi expands credit sales team
Mitsubishi UFJ Securities International (MUSI) last month expanded its credit trading and sales team.
Credit spread widening fails to generate buying interest
Despite spreads widening last month to more attractive levels, investors remain cautious on expectations of a prolonged period of volatility for the credit markets.
The true source of liquidity in financial markets: Caveat Emptor column
Liquidity – its origins and effects – have long exercised investors, but one thing is certain: banks are not the main source of liquidity, despite what they would have us believe.
Spanish banks prepare for refinancing risk as CDSs blow out
Refinancing risk increases for Spanish banks as credit default swap (CDS) spreads widen dramatically for a third day running.
Bond syndication process cheats investors
New issue distribution is not a fair deal for bond investors because the syndication process is so opaque
Agency brokers: Back in vogue
In the old days, before the advent of the all-singing, all-dancing full service investment banks, agency brokers used to represent an important, if niche part of the credit trading business. Now, after a period in the wilderness, these agency brokerages…
Primus Financial: the risk repository
Primus Financial occupies a unique place in the credit derivatives market by writing CDS protection – and then holding the swaps to maturity
Under Scrutiny - Regulators focus on credit
Well-publicised risk issues and a recent growth spurt have brought credit markets firmly under the scrutiny of global regulators. Nikki Marmery investigates whether the attention will prove to be a boon for attracting more investment - or a barrier to…
A bigger deal in platforms
After three years of consolidation in electronic trading, are brokers getting what they want from the players who are left and do the providers themselves know where they are going?
Forum codifies Chinese Walls in credit trading
The Joint Market Practices Forum - an ad hoc group of four market trade associations – has produced a set of principles and recommendations tackling the contentious issue of Chinese Walls between credit trading and lending functions.
Basel II likely to boost credit markets, says Fitch
The Basel II capital Accord is likely to boost credit market funding activities, particularly for lower investment-grade companies seeking financing, according to Fitch, the credit rating agency.
CMA develops credit derivatives analysis product
Credit Market Analysis (CMA), a specialist provider of analytics for the credit markets, is marketing a new analytics system called CMA Market Monitor, which will provide investors with spread information on bonds and credit derivatives. The company…
Top investors in credit
This year has been an eye-opener for investors in European credit, with some fund managers living dangerously by under-investing in credit expertise
Margining the spread
Liquidity risk