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Issue 214 - 22nd December

  • News Analysis

    • Insurance-linked securities

      • Equity options

        Two new catastrophe listings placed

        Two new equity-related placings impacting the insurance-linked securities markets have been announced. A new company investing in reinsurance instruments - including catastrophe bonds - has successfully listed on the London Stock...

    • Asia

      • Positive momentum

        APAC private placement, local currency deals to continue

        Asia-Pacific (ex-Australia) structured finance is set to continue to be characterised by private placements and local currency transactions in 2011. However, the new offshore deliverable CNY market (CNH) could provide even greater opportunities in th...

    • CDS

      • Liquidity lifeline

        Clearing to renew confidence in face of threat to CDS liquidity

        Gloomy predictions are being made for credit derivatives, with forecasts for future liquidity in the market divided. The demise of CSOs could have a catastrophic knock-on effect, but there is also hope that initiatives such as clearing may just do en...

    • ABS

      • Growth prospects?

        Economic, regulatory uncertainty dogs the outlook for US ABS

        US ABS issuance volumes are expected to increase by about 10% in 2011 - largely as a function of growth in the underlying consumer sector. Although the market is likely to continue benefitting from positive fundamentals and technicals, regu...

  • Market Reports

    • CLOs

      • US CLO market ends 2010 with a bang

        It has been an industrious and robust week in the US secondary CLO market, with last week's bid-lists producing high volumes of paper. Although this momentum is set to continue into 2011, the main threat to current prices is said to be lack of market...

    • RMBS

      • Granite perks up Euro RMBS

        It has been another quiet week in the European RMBS market, as most participants prepare for end-of-year. However, with senior and mezzanine Granite spreads rallying last week, prices have now settled at a relatively high level. "It's been fairly q...

  • News

    • CDS

      • State-backed CCP still on the cards

        Rumours abound in the CDS market that the European Parliament still harbours a desire to create a single European central counterparty. The CCP would be backed by the ECB, although details of exactly how it would work remain unconfirmed. One CDS st...

    • Insurance-linked securities

      • Lodestone II closes

        The second catastrophe bond offering from the Lodestone Re programme has closed (see also SCI 1 December). The cedant, Chartis subsidiary National Union Fire Insurance Company of Pittsburgh, was able to obtain upsized cover of US$450m from an initial...

  • Job Swaps

    • CDS

      • Credit fund PM named

        Third Avenue Management has promoted Thomas Lapointe to portfolio manager of the Third Avenue Focuse...

    • CMBS

      • CMBS partner hired

        Dechert has appointed Laura Swihart as partner in its finance and real estate practice based in New...

    • Investors

  • News Round-up

      • No auction for Tea Co

        ISDA's Americas Determinations Committee has ruled that a bankruptcy credit event occurred with resp...

    • CMBS

      • US CMBS 2.0 index prepped

        Barclays Capital will launch a US CMBS 2.0 index on 1 January 2011. The index aims to offer investor...

    • Legislation and litigation

      • AVMs under scrutiny

        The recently-issued guidance from the Financial Institutions Examination Council (FFIEC) on real est...

      • Hermes XVII restructured

        Fitch has affirmed HERMES XVII Dutch RMBS, following a restructuring of the transaction. The changes...

      • RMBS data integrated

        BlackBox Logic has partnered with Thetica Systems to improve its RMBS forecasting. Under the agreeme...

    • SIVs

      • BMO SIVs on review

        Moody's has placed the Euro and US MTN programmes of the Links Finance and Parkland Finance SIVs on...


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