Weekly Issue Archive »

Issue 259 - 9th November

• Market Reports

  • CMBS

    • Hedge fund boosts US CMBS liquidity

      It was a good week for US CMBS as market sentiment grew more positive and spreads tightened. A new issue also priced on Tuesday, although further new issuance is not expected for a while. One trader says that increasing clarity in Europe was a big...

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• News

  • ABS

    • Re-denomination risk re-examined

      The once unthinkable prospect of a break-up of the eurozone has increased in likelihood over the past few weeks, forcing ABS investors to consider the implications of currency re-denomination. Should a country leave the eurozone, analysts at RBS expe...

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• Job Swaps

  • ABS

    • US law firm adds three

      Daniel Passage has joined Bingham McCutchen's structured transactions practice group as partner in i...

  • • Trader networking site launched

      A beta website that offers fixed income market professionals a free venue to network and generate tr...

  • CDO

    • CRE CDO successor chosen

      CWCapital Investments has been voted as the successor collateral manager for Sorin RE CDO 1, followi...

  • CDS

    • Cantor beefs up in credit

      Cantor Fitzgerald has expanded its credit markets team with three new hires. David Pilcher joins as...

  • CLOs

    • Euro CLO manager purchase confirmed

      Black Diamond Capital Management has confirmed its acquisition of GSC Group's London team. Black Dia...

  • • CLO team reshuffle will not harm ratings

      The proposed replacement of the key persons defined by Harbourmaster CLO's transaction documents in...

  • CMBS

    • US CMBS lawyer hired

      Global law firm Thompson & Knight has hired Benjamin Herd as counsel in its real estate and...

  • • CMBS trading trio appointed

      KGS-Alpha Capital Markets has expanded its CMBS trading team with the addition of Jeff Lewis, Kyle W...

  • • CMBS origination team cut

      Credit Suisse will close down its CMBS origination team and downscale other businesses that...

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• News Round-up

  • ABS

    • Marked improvement for US card collateral

      The performance of receivables backing US credit card ABS transactions improved markedly in 3Q11, sa...

  • • GAM launches new cat bond fund

      Alternative investment manager GAM has launched a UCITs-compliant fund investing in securitised insu...

  • • US SF losses 'surprising'

      Losses are high in the most maligned US structured finance sectors, but surprisingly low in other se...

  • • Cat bond issuance increasing, diversifying

      There were four catastrophe bond issuances in 3Q11, representing US$676m of new risk capital, notes...

  • CDS

    • Parsing platform launched

      CMA has released a parsing solution for the credit options market. CMA Parsing Credit Options builds...

  • CLOs

    • Euro fears slow US CLO issuance

      The European unrest has had a negative impact on US CLO issuance despite a strong first half of the...

  • CMBS

    • US CMBS delinquencies near highs

      The delinquency rate for US CRE loans in CMBS moved up by 21bp to 9.77% in October, according to Tre...

  • • Uncertainty after care-home rent drop

      Following the finalisation of restructuring plans in late September (SCI passim), the 249 UK care ho...

  • • CRE loan prices ease off

      The aggregate value of CRE loans priced by DebtX that collateralise CMBS decreased from 85.9% as of...

  • • Court ruling negative for StuyTown CMBS

      Investors of CMBS bonds backed by Stuyvesant Town (ST) and Peter Cooper Village (PCV) collateral are...

  • • Sequential pay triggers inadvertently undermined

      Servicer workout strategies in some EMEA CMBS transactions are inadvertently undermining sequential...

  • • US CMBS delinquencies drop again

      October saw US CMBS delinquencies decrease for the third consecutive month, according to Fitch. Th...

  • • Agency to change CMBS rating criteria

      S&P is undertaking a review of the assumptions and methodology that it uses to rate European...

  • Risk Management

    • DVA white paper published

      Quantifi has published a short whitepaper entitled 'CVA, DVA and Bank Earnings' in response to recen...

  • • US bank risk model launched

      Trepp has launched the Bank Navigator, a web-based product for financial institution surveillance an...

  • • Standard CSA proposal outlined

      ISDA has outlined key provisions to the Standard Credit Support Annex (SCSA) proposal as part of its...

  • • CCP capitalisation consultation continues

      The Basel Committee has issued its second consultative paper on the capitalisation of bank exposures...

  • RMBS

    • US RMBS mod performance improves, decelerates

      Performance on recent US RMBS mortgage loan modifications has improved, but the number of new mods c...

  • • E-trading platform adds RMBS, CMBS

      MarketAxess has added non-agency RMBS and CMBS to its e-trading platform. The products expand the su...

  • • Foreclosure start rates rising

      Foreclosure start rates on delinquent US mortgages are rising toward historical averages one year af...

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