Weekly Issue Archive »

Issue 225 - 16th March

  • News Analysis

    • RMBS

      • PECO ramifications

        Eurosail ruling impact awaited

        Judgement has now been handed down on the Eurosail-UK 2007-3BL - a Lehman-originated RMBS - case, with serious implications for securitisations in the UK. The Court of Appeal on Monday upheld an earlier ruling that post-enforcemen...

      • Pardoning problems

        Principal forgiveness proposal raises concern

        The US government may force banks to pay a US$20bn settlement for mortgage servicing breakdowns, with the funds generated being used for principal forgiveness. Several issues still need to be ironed out - not least who would qualify for for...

      • Opening arguments

        Volume of RMBS litigation set to increase

        RMBS litigation is expected to gather steam this year: more new cases are set to be filed, while further decisions on preliminary motions are due. At the same time, courts will start adjudicating discovery disputes and motions for summary judgment. ...

  • Market Reports

    • CLOs

      • Euro CLO market hesitates

        The European CLO market is showing signs of hesitancy as the previous week's rally in mezzanine paper comes to a stop. At the same time, equity pieces are in high demand as investors continue their hunt for yield. "The triple-A and senior pieces ha...

    • RMBS

      • Euro MBS holds on

        Activity in the European MBS market has slowed this week, as participants hold on for rumoured new issuance. "It's all mainly positive, although the market has been a bit slower in the last week compared to the busy bid-list period before that," on...

      • Mezz appeal for Euro RMBS

        The quiet patch for European RMBS continues, particularly in the primary market. However, mezzanine paper is running with demand in the secondary market, as investor appetite remains firm. "It's all been relatively quiet in the primary market, asid...

  • News

    • CMBS

      • More CMBS safeguard proceedings likely

        The latest twist in the ongoing Coeur Défense case could have negative consequences for European CMBS. Moody's says in its latest Weekly Credit Outlook publication that securitisation structures using French SPVs are particularly af...

    • RMBS

      • New twist for MBIA policyholder case

        Citing newly disclosed evidence, four former Superintendents of the New York State Insurance Department (NYID) submitted sworn testimony on Friday that the NYID impermissibly allowed MBIA Inc to strip US$5bn from its main insurance subsidiary in a wa...

      • HARP extension 'slight negative' for IOS

        The Federal Housing Finance Agency is to extend the Home Affordable Refinance Program (HARP) to 30 June 2012. MBS analysts at Barclays Capital believe that the move should have a minor impact on TBA valuations but could be a slight negative for some...

  • Talking Point

    • CDS

      • Banning naked CDS shorts: a bridge too far

        Anu Munshi, partner at B&B Structured Finance, outlines the case against banning naked sovereign...

        First a proposal in the US in 2009 to ban CDS trading unless investors owned the underlying bonds or loans, which was fortunately defeated by the US Senate in 2010. And now the European Parliament has voted to push for a ban on naked short selling of...

  • Job Swaps

      • ABS sales md named

        Aladdin Capital has appointed James Showers as md covering ABS and MBS sales. Based in Stamford, he...

      • Ratings advisor appointed

        Rabobank International has appointed Serge Haller as a ratings advisor in the capital markets soluti...

    • CDS

      • FIA broadens its focus

        In light of the ongoing structural changes prescribed by the Dodd-Frank Act and global regulatory re...

      • EM fund adds partner

        BTG Pactual has appointed Ben Rick as partner in its global emerging market and macro fund. Rick, wh...

    • RMBS

      • New cio recruited

        Paul Isherwood has joined The Chotin Group as cio. He is responsible for overseeing the analysis, tr...

  • News Round-up

      • New bond fund minted

        Loomis, Sayles & Company has launched the Loomis Sayles Absolute Strategies Bond Fund to add...

    • CDS

      • Succession event mulled

        ISDA's EMEA Determinations Committee is mulling whether a succession event occurred with respect to...

      • Succession event pending

        ISDA's Americas Determinations Committee is set to discuss whether a succession event occurred with...

    • RMBS

      • RMBS repurchase offer made

        The US Federal Reserve has received a formal offer from AIG to purchase the assets in Maiden Lane II...


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