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Issue 68 - December 12th

  • Data

  • News

      • Problems for Paulson plan?

        Rate freeze could come unstuck by its voluntary nature

        US Treasury Secretary Paulson's proposal to freeze interest rates on certain sub-prime mortgages ha...

      • M-LEC overshadowed

        Municipal investors could complicate SIV restructurings

        M-LEC appears to be becoming increasingly irrelevant, with most European SIV sponsors preferring to...

      • Capital idea

        Credit spreads and equities diverge further

        Bank capital raising is driving the decoupling of credit spreads and equities even further. While c...

      • EODs rise

        Concern mounts about potential asset overhang

        The triggering of events of default (EODs) in ABS CDOs continues apace. As the third liquidation of...

      • Structured credit hedge funds dip again

        Latest index figures show another drop in returns, but 50% stay positive

        After a brief respite in September (see SCI issue 62), both gross and net monthly returns for Octobe...

  • Job Swaps

      • EM manager launches

        The latest company and people moves

        EM manager launches Marketing is underway for a new asset manager that will specialise in emerging...

  • News Round-up

      • Moody's extends SIV review

        A round up of this week's structured credit news

        Moody's extends SIV review Moody's has extended its review period for SIVs due to the receipt of n...

  • Research Notes

      • Trading ideas: paint the town red

        Dave Klein, senior research analyst at Credit Derivatives Research, looks at an outright short on Sh...

        When we have a fundamental outlook on a credit, we prefer to put on positive-carry, duration-neutra...

      • Correlation markets: what price default risk?

        The dichotomy of flattening credit curves together with rising equity correlation is discussed by Gr...

        The dramatic flattening of credit curves seen since July suggests there exists a substantial bid fo...


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