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Issue 219 - 2nd February

  • News Analysis

    • CMBS

      • Extension headaches

        Extensions expected, NEoDs feared in Euro CMBS

        Extension risk is set to be a defining theme for European CMBS in 2011, with concern that the market may see its first note event of default (NEoD) also emerging. More loans are scheduled to mature this year than last and many are expected to struggl...

  • Market Reports

    • CLOs

      • US CLO prices ramping up

        Bid-lists continue to dominate activity in the US CLO market. At the same time, aggressive investor appetite and soaring price levels bode well for new issuance. "The spurt of activity in bid-list land continues aplenty; we're seeing five to six la...

    • RMBS

      • Euro RMBS returns to life

        The European RMBS market experienced a slow start to the week before a spike in bid-list activity today, which has generated investor interest. Meanwhile, Aire Valley paper has rallied strongly on the back of a statement from the issuer. "Monday st...

  • News

    • CMBS

      • Beacon Seattle mod creates waves

        The modification of the second largest US CMBS loan ever securitised - the Beacon Seattle & DC Portfolio loan - has significant implications for a broad base of investors, according to MBS analysts at Barclays Capital. It...

    • RMBS

      • Housing finance 'blueprint' published

        The Center for American Progress (CAP) has published a report entitled 'A Responsible Market for Housing Finance', which MBS analysts at Bank of America Merrill Lynch believe is likely to serve as the blueprint for housing finance reform. By recommen...

  • Talking Point

    • Technology

      • The industry standard

        Sapient Global Markets risk analytics director Jor Molchan and senior associate Richard Ellis discus...

        The market volatility and numerous counterparty defaults experienced since September 2008 have shown the limitations of traditional credit risk monitoring techniques. Credit lines welcome exposure until the cap is reached; thereafter exposure is si...

  • Provider Profile

    • ABS

      • New valuation perspectives

        Duff & Phelps' alternative asset advisory practice head Warren Hirschhorn and US complex asset s...

        Q: How and when did Duff & Phelps become involved in structured finance? WH: Duff & Phelps established a group to handle valuations of complex securitisations in 2005. But we had been outsourcing some projects to Dynamic Credit Partn...

  • Job Swaps

    • ABS

      • ABSNet revamped

        Lewtan has updated its ABSNet website, with the aim of connecting investors in the structured financ...

      • Distressed credit md named

        Nomura has appointed Sandor Hau as md and head of its high yield and distressed credit group for the...

      • Orrick duo jump ship

        Chapman and Cutler has appointed James Croke and Peter Manbeck - formerly of Orrick, Herri...

      • Dublin tax group formed

        Walkers has made two appointments in its newly created tax group in Dublin. From March 2011, Anthony...

    • CLOs

      • Transferred CLO renamed

        Intermediate Capital Managers has renamed Resource Europe CLO I as St Paul's CLO I, as of 13 January...

  • News Round-up

      • EM criteria updated

        Fitch has updated its criteria for analysing legal uncertainty in emerging market securitisations. I...

      • PPIF IRRs decline

        The US Treasury reported in its latest quarterly update that PPIP managers drew down an additional U...


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