Weekly Issue Archive »

Issue 370 - 22nd January

  • Market Reports

    • CLOs

      • Surprise rally for Euro CLOs

        The European CLO secondary market has kicked off the year with a major rally, with prices significantly higher than they were in December. Activity has mainly focused on the mezzanine space, although tightening further up the stack is also possible a...

  • News

    • Structured Finance

      • SCI Start the Week - 20 January

        A look at the major activity in structured finance over the past seven days

        PipelineAdditions to the pipeline last week were focused on CMBS and CLOs. In ABS, the €440m E-Carat Compartment No.6 was announced, while Sallie Mae began remarketing the US$1bn SLM 2004-10. The CMBS joining the pipeline comprised the US...

    • CLOs

      • CLO cushions being squeezed

        US CLO 2.0 deals now account for around half of the outstanding market. OC cushions among those transactions have been decreasing as leverage has increased, but structures appear to remain well protected against default shock. JPMorgan CDO analysts...

    • RMBS

      • QM rules to limit credit expansion

        The continued normalisation taking place in the US housing market provides scope for mortgage credit to expand from its current tight levels. However, Dodd-Frank ATR/QM requirements pose challenges for credit to expand to pre-crisis levels. Barclay...

  • Job Swaps

    • Structured Finance

      • CRA launches in London

        A new credit rating agency has been formed in London. ARC Ratings will have a global reach and profi...

      • Law firm promotes three

        Cadwalader, Wickersham & Taft has named three new partners. The trio specialise in different...

      • Banks rethink fixed income

        Banks are continuing to restructure their global fixed income businesses, scaling back or exiting ce...

    • CDS

      • IDC adds OTC data

        Interactive Data has signed an agreement to provide BGC Partners' OTC data via its consolidated feed...

      • Derivatives pro steps up

        Richards Kibbe & Orbe has appointed Jennifer Grady and Craig Newman as managing partners, su...

    • CLOs

      • Key person switch proposed

        The issuer and portfolio manager for Harvest CLO V intend to amend the provisions of the portfolio m...

      • CLO portfolio to spin off?

        GLI Finance has disclosed in its latest trading update that preparatory work for the potential trans...

      • Capital markets head named

        Montpelier Re has appointed Daniel Brookman as svp and head of capital markets. He will also serve a...

  • News Round-up

      • New SLM conduit minted

        Sallie Mae has closed a new US$8bn ABCP facility that matures in January 2016. The facility replaces...

    • Structured Finance
    • CDS

      • Sears CDS underperforming

        CDS on Sears Roebuck Acceptance Corporation have widened by 39% over the past month, according to Fi...

      • JCP CDS gap out

        Widening in JC Penney's five-year credit default swap (CDS) spreads underscores continued investor c...

      • Sovereign CDS move tighter

        Global sovereign credit default swap (CDS) spreads tightened by 9.5% in 4Q13 as stocks continued to...

      • Call for CLO carve-out

        The Financial Services Roundtable (FSR), the Loan Syndications and Trading Association (LSTA), SFIG...

      • 'Qualified CLO' mooted

        The Loan Syndications and Trading Association, SFIG and SIFMA have submitted a further letter to the...

      • Margaux asset sold

        Hatfield Philips International has agreed the sale of the Margaux portfolio, securitised in the Tita...

      • JCP closures to hit CMBS

        JCPenney is set to close 33 underperforming stores beginning this year. Nine US CMBS loans have expo...

      • CMBS can absorb JCP impact

        The Fitch-rated CMBS that are exposed to JC Penney's announced store closures (SCI 16 January) are c...

    • Insurance-linked securities

      • Dynamic ILS fund offered

        Falcon Private Bank has launched the Twelve-Falcon Insurance Opportunities Fund, a dynamic catastrop...

    • Risk Management

      • MiFID 2 rules agreed

        An agreement in principle has been reached by the European Parliament and the European Council on Mi...

      • Affordability surveyed

        Fitch expects house prices to increase modestly in the US and remain broadly flat in Canada in 2014....


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