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Issue 415 - 3rd December

  • News Analysis

    • Insurance-linked securities

      • Flooding the market

        New challenges driving cat bonds forward

        Disappointing financial markets and the search for yield mean that catastrophe bonds are an increasingly appealing source of investment. As new perils and jurisdictions continue to be tapped, the ILS market is expected to remain on the upswing as it...

  • Market Reports

    • ABS

      • Month begins with solid session

        US ABS BWIC volume was around US$120m in the first session of the week, with auto paper well represented. There was also a higher than normal number of utility bonds out for the bid. SCI's PriceABS data captured half a dozen unique auto ABS line it...

    • RMBS

      • US RMBS back to BWICs

        The US non-agency RMBS secondary market returned to life on Tuesday after a stretch of inactivity which had begun before Thanksgiving. Total BWIC volume yesterday was more than US$630m as supply increased sharply, with SCI's PriceABS data capturing a...

  • SCIWire

    • Secondary markets

      • US CLOs stay light

        Trading volumes are still light in the US CLO market post-Thanksgiving and are expected to stay that...

  • News

    • Structured Finance

      • SCI Start the Week - 1 December

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

        Pipeline The number of deals joining the pipeline last week was down on the week before as Thanksgiving arrived. The only newly announced ABS were NewDay Partnership Receivables Trust 2014-1 and NewDay Partnership Receivables Trust 2014-2. There w...

  • Talking Point

    • RMBS

      • At the edge

        Peripheral RMBS prospects examined

        Representatives from Bloomberg, Prytania Group and DBRS discussed peripheral European RMBS in a live webinar hosted by SCI last month (view the webinar here). Topics included the development of the peripheral RMBS market versus core RMBS, a detailed...

  • Job Swaps

    • Structured Finance

      • BTG adds trader

        Stephane Delacote has joined BTG Pactual as a trader. He joins the bank having held previous roles a...

      • Investment teams realigned

        AXA Investment Managers has reorganised its fixed income and structured finance teams with the creat...

      • SF team boosted

        Clifford Chance has recruited a team of five lawyers from Bingham McCutchen, led by partners Robert...

      • CLO specialist moves

        Ross Heller has joined RBC Capital Markets as a director, structured credit sales. He will work in C...

    • Risk Management

      • Tech initiative launched

        NewOak has launched a new technology innovation programme (TIP). The firm believes the initiative wi...

      • Services centre announced

        Calypso Technology is to establish a managed services centre in Dublin, with plans to create up to 1...

      • REIT promotes risk md

        Robert Rush has taken the role of chief risk officer at Two Harbors Investment Corp. Paul Richardson...

      • ISDA elects new chairman

        ISDA has elected Eric Litvack as its new chairman, effective from January 2015. Litvack is md and he...

  • News Round-up

    • ABS

      • Agency issues CE RFC

        Moody's is seeking comment on proposed changes to the minimum portfolio credit enhancement levels in...

    • Structured Finance

      • Core RMBS supported

        The ECB has disclosed that it purchased €368m of paper via its ABSPP last week, at least s...

      • FLS extended further

        The Bank of England and HM Treasury have extended the Funding for Lending Scheme (FLS) by one year....

    • CLOs

      • CLO returns rebound

        JPMorgan's latest Collateralized Loan Obligation Index (CLOIE) monitor report shows that the total a...

    • Risk Management

      • CVA hearing scheduled

        The EBA is holding a public hearing in London on Friday (5 December) on a draft credit valuation adj...


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