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◆ Public sector issuers embrace hedge fund bid... ◆ ... as they flex in the swap market ◆ Car makers welcomed back to bond market
CEB plans to print more structured notes and may launch inaugural Sofr bond in 2026
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New contracts cannot yet be traded in US
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  • Investors in structured products in the U.K. could face higher taxes as returns on a growing number of the instruments may now be subject to income tax rather than capital gains tax under recent changes in regulation
  • Credit default swap spreads on Spanish sovereign debt narrowed 39 basis points to 283 bps, their lowest level in 14 months, according to Markit.
  • Austrian regulator Finanzmarktaufsicht has barred insurers from selling credit default swaps, saying CDS allow the firms to circumvent industry regulations.
  • NYSE Euronext and Bank of China have signed a memorandum of understanding to explore strategic opportunities, including helping make the bank establish itself as a general clearing member of the London market of NYSE Liffe.
  • Spreads on U.S. two-year interest-rate swaps tightened 1.3 basis points to 9.45 bps, their lowest level since September 1993, according to Bloomberg.
  • UBS has hired Thomas Merz as head of exchange-traded funds sales for Switzerland and Liechtenstein. Merz most recently was head of ETF sales for the two countries at Credit Suisse.