Weekly Issue Archive »

Issue 253 - 28th September

  • News Analysis

    • CDS

      • Silo breaking

        Demand rising for diversified alternative investments

        The broad-based correlated market sell-off of recent months is playing into the hands of 'silo breakers' - firms that can invest both long and short, across the capital structure, across sectors, across geographies and without regard to rat...

  • News

    • ABS

      • SCI Start the Week - 26 September

        A look at the major activity in structured finance over the past seven days

        PipelineThree new transactions remained in the pipeline at the end of last week: a US$200.5m auto ABS, Credit Acceptance Auto Loan Trust series 2011-1; a US$50m whole business securitisation, NuCO2 Funding series 2011-1; and a ZAR1.19bn tap of South...

      • Swap opportunities

        Rating agency counterparty criteria changes have created opportunities for highly rated banks to offer their services as external securitisation swap providers. At the same time, issuers are becoming increasingly proactive about identifying which ban...

    • CDS

      • Optimising collateral

        Proposed rulemaking changes concerning margin and capital requirements for non-cleared swaps and non-cleared security-based swaps under the Dodd-Frank Act could result in an estimated US$2trn increase in demand for collateral. The challenges associat...

    • RMBS

      • GSE g-fee hike anticipated

        FHFA director Edward DeMarco's speech to the American Mortgage Conference this week has been described as arguably the "most comprehensive overview" in a long time of where Fannie Mae and Freddie Mac are headed. How a private company could do the wor...

      • 'Operation twist' boosts agency MBS

        The FOMC yesterday voted in favour of further easing monetary policy, including by buying an additional US$400bn of Treasuries with maturities between six years and 30 years by the end of June 2012. What surprised the market was the decision to re-in...

  • Talking Point

    • CDO

      • When Cayman directors fail to act

        Richard Ruffer, svp at Walkers Management Services in the Cayman Islands, suggests two indenture pro...

        The recent US Bankruptcy Court decision in In re Zais Investment Grade Limited VII, No. 11-20243 (Bank. D. N.J. August 26, 2011) raises troubling concerns for investors in CDOs. The decision rejected a motion to dismiss an involuntary bankruptcy orde...

  • Job Swaps

    • ABS

      • Boutique bolsters FI sales

        CastleOak Securities has added Gregory Hughes and Dana Brett-Levy to its fixed income division. The...

      • ILS pro moves on

        Noah Schiltknecht has joined Russell Investments in New Zealand as a consultant. He most recently wo...

    • CDS

      • Sales head appointed

        CMA has appointed Steve Tucker as global head of sales, responsible for all sales, account managemen...

    • CLOs

      • Key man clause triggered

        A key personnel event has been declared on the PULS CDO 2006-1 and PULS CDO 2007-1 SME CLOs. The cla...

      • Third CLO sold

        Nomura Corporate Research and Asset Management has sold another CLO - Clydesdale CLO 2006...

      • Mortgage insurer downsizes

        Radian Group has realigned its operational structure to compete more effectively as a leading privat...

      • MBS trading team acquired

        CRT Capital Group has acquired a team of sales and trading professionals from Citadel Securities' in...

  • News Round-up

    • ABS

      • Tractor loan ABS analysed

        Fitch has analysed the key aspects that differentiate tractor loans from other asset classes and the...

      • WBS bonds reclassified

        Markit announced in its annual index review that it has changed the classification of a series of wh...

      • ILS fund minted

        SCOR Alternative Investments has launched an insurance-linked securities fund dubbed Atropos. Domici...

    • CDO

      • ABS CDO liquidation due

        Henderson Global Investors has been retained as liquidation agent for Avebury Finance CDO. The aucti...

      • Zoo tender completed

        P&G SGR has announced the results of its tender offer for the Zoo ABS 4 CDO. It accepted a n...

    • CDS

      • NY CDS seminar draws near

        SCI's second annual CDS seminar in New York is taking place on 6 October. The event is being held at...

    • CLOs

      • GSC CLO plan prepped

        A hearing on the trustee's motion for entry of an order in respect of GSC European CDO I-R and II is...


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