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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
Japanese firm plucks banker from UBS
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The Korea Exchange has begun voluntary clearing of over-the-counter Korean won-denominated interest rate swaps, prior to the mandatory clearing start date of July. -
Hedge funds have been diving into tactical cross-asset relative value trades aimed at profiting from the normalisation of the iTraxx Main relative to Spanish government bonds.
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LCH Clearnet has tapped Daniel Maguire as global head of SwapClear, LCH Clearnet’s global interest rate swap clearing platform. He replaces Michael Davie, who was promoted to ceo of LCH Clearnet Ltd. Maguire will sit on LCH Clearnet’s executive committee.
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State Street plans to add a futures voice and electronic execution service to its State Street Global Exchange platform.
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A total return swap has emerged in a novel situation: a power industry pre-packaged bankruptcy. Under the TRS, a unit of private equity shop Energy Capital Partners will have voting power in bankrupt power generator MACH Gen after entering a contract with Deutsche Bank, which holds second-lien debt in MACH Gen.
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CVA and loan desks are buying April to June payers between 15bp-20bp out-of-the-money on the iTraxx Main and CDX IG volatility, reflecting the more cautious tone in credit markets over the political tensions in Ukraine.
