Monte rescue falls flat with CDS traders

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Derivatives

Monte rescue falls flat with CDS traders

GlobalCapital
October 26, 2016 05:45 PM
MontePaschiSiena 230x150
A view of a "Monte Dei Paschi di Siena" bank branch in Milan, Italy, Sunday, Oct.26, 2014. The European Central Bank says 13 of Europe's 130 biggest banks have flunked an in-depth review of their finances and need an extra 10 billion euros ($12.5 billion) to cushion themselves against any future crises. ECB officials said Sunday the test had been tougher than similar reviews in 2011 and 2010, which gave a pass to banks that later needed bailouts. (AP Photo/Luca Bruno) | Luca Bruno/AP/Press Association Images

Credit investors, whether in cash or synthetics, often welcome corporate restructurings by distressed firms. Job cuts, rationalisation of operations and, in particular, asset sales are usually regarded as bondholder-friendly actions.

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DerivativesMarket NewsItalyMonte dei PaschiEuropeFIG People and MarketsEMEADerivs - CreditDerivs - People and MarketsFIGPeople and Markets
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