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Issue 99 - July 30th

  • News

      • Buy-back benefits

        Accounting advantages spur REITs to buy back CDOs

        Mortgage REIT Gramercy Capital has bought back US$37.8m of CRE CDO bonds that it had previously issu...

      • Taking the initiative

        Write-down to serve as benchmark for other banks and monolines

        Merrill Lynch surprised the market this week when it jettisoned the majority of its ABS CDO exposure...

      • Triple-A demand

        Geldilux to get fairytale ending, despite bear market?

        Despite the much-discussed lack of investor demand for triple-A paper in the market at present, HVB...

      • Higher ground

        Tranched CDS capital charges under Basel 2 analysed

        The incentives for hedging different parts of the capital structure under the Basel 1 and Basel 2 fr...

  • Job Swaps

      • Global head on the move

        The latest company and people moves

        Global head on the movePaul Horvath is understood to be leaving Merrill Lynch, where he is global he...

  • News Round-up

  • Research Notes

      • IndyMac Bancorp failure: impact on TRUPS CDO market

        Structured finance analysts at JPMorgan find that systemic bank failures and/or low recoveries may t...

        IndyMac Bancorp, the seventh largest mortgage originator in the US, was seized on 11 July by FDIC; t...

      • Trading ideas: a sea change

        Tim Backshall, chief credit derivatives strategist at Credit Derivatives Research, looks at a pairs ...

        As the spectre of a consumer-led recession appears upon us, a travel downturn led by significant dro...


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