
Issue 98 - July 23rd
News


Valuation issues highlighted by 'dreadful outcome' of SIV auction


European CLO manager profitability results in


Different jurisdictions offer CDO investors procedural advantages


CRD changes criticised

Job Swaps

Ex-CDO structurer hired Tokyo credit trading head hired Ex-Bear staff join financial services firm Manager begins CDO acquisition strategy Highland beefs up Asia presence New force for CDS processing Tritto joins Primus Two SIV restructuring lawyers hired ... ... while Baker & McKenzie adds CLO pro Calyon restructures

The latest company and people moves

News Round-up

FSA and Assured on downgrade review Basel Committee issues RFCs ABX write-downs set to accelerate FAS 140 revisions criticised SIV capital notes downgraded RFC on credit stability factor Eurex plans OTC clearing platform Monoline industry analysed Outstanding CDS confirmations drop QWIL begins another share repurchase ... ... while NAV increases for Carador Regulation Z amended Upgrade/downgrade ratio continues decline TRUP CDOs under review BIS reports on innovations in credit risk transfer Retaining financial interests analysed GFI launches Webview ASF launches Project RESTART

A round up of this week's structured credit news

Research Notes


Who is financing the bailout game is discussed by Jochen Felsenheimer and Philip Gisdakis of UniCredit's credit strategy & structured credit research


Byron Douglass, senior research analyst at Credit Derivatives Research, looks at a long/short trade on CDX Series 9 seven-year 7%-10% tranche versus 10%-15% tranche

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