Weekly Issue Archive »

Issue 128 - March 18th

• News Analysis

  • Correlation

    • Unsustainable dislocation

      Likelihood of bank restructuring grows

      Rising implied correlation and widening financial spreads suggest that a second wave of the financia...

  • CLOs

    • Missing the point?

      Potential inclusion of CLOs in TALF receives mixed response

      The potential expansion of TALF documentation to include triple-A corporate CLOs has received a mixe...

  • Regulation

    • Retention tension

      EC's new ABS rule counterintuitive to primary market revival

      The European Commission has agreed, under its CRD amendments (see last week's issue), that issuers m...

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• News

  • CDS

    • AIG names bailout beneficiaries

      AIG has publicly identified certain CDS counterparties that received payouts from the insurer follow...

  • Documentation

    • Negative surplus to test bankruptcy definition?

      A regulatory filing by Syncora Guarantee last week tests the definition of Section 4.2(b) of the ISD...

  • Indices

    • Positive returns for hedge fund index

      Both gross and net monthly returns for January 2009 in the Palomar Structured Credit Hedge Fund (SC...

  • Monolines

    • Monoline faces class action over restructuring

      Aurelius Capital Master, Aurelius Capital Partners, Fir Tree Value Master Fund, Fir Tree Capital Opp...

  • Structuring/Primary market

    • CDO restructuring completed

      Fitch has affirmed the ratings of Scute II following a significant restructuring of the deal. Earlie...

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• Talking Point

  • NPLs

    • Call for clarity

      Distressed timing and tactics discussed

      The need for increased clarity around government intervention in the market was the main message fro...

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• Job Swaps

  • • Asset recovery group launched

      The latest company and people moves

      Alpstar has launched a strategic asset recovery group, whose focus is on the restructuring and recov...

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• News Round-up

  • • ISDA's auction protocol launched

      A round up of this week's structured credit news

      ISDA has launched its Auction Settlement Supplement and Protocol, the final stage of the process kno...

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• Research Notes

  • Operations

    • Term ABS Loan Facility (TALF) to the rescue?

      Deutsche Bank securitisation research analysts Karen Weaver and Katie Reeves find that – while...

      On 3 March the Federal Reserve Bank of New York (FRBNY) announced a first 'subscription date' for th...

  • Trading

    • Trading ideas: overnight underpriced

      Dave Klein, senior research analyst at Credit Derivatives Research, looks at a capital structure arb...

      The equity and credit markets have reconnected on the back of sustained equity outperformance. One c...

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