Derivs - Credit

Selling 1y*2y receiver spreads on sterling is a good way to fund the buying of euro 1y*2y receiver spreads to take advantage of a potential unwind in front-end EUR rates, according to strategists at Barclays.

Buying six-month 5s10s conditional flatteners on the Australian dollar curve is a good way to play for a flattening via options, according to strategists at the Royal Bank of Scotland.

The European Commission is gauging opinions from companies, individuals and associations on a pushing ahead with an effort bolster the international jurisdiction of courts.

Spain and Italy were always going to be the most topical of the eurozone peripherals in the first-quarter of 2013, and they have lived up to their billing so far.

A proposal from the European Securities and Markets Authority for interoperable central counterparties to assess the need to harmonise their risk management frameworks has been tagged as unworkable by market participants. The European Multilateral Clearing Facility, SIX x-clear and LCH.Clearnet all think the proposal is not practicable.

European Securities and Markets Authority guidelines on market-making exemptions for sovereign credit default swaps are unlikely to lead to greater liquidity, according to lawyers.

Halifax-Bank of Scotland’s Prominent Conduit No. 2 synthetic commercial mortgage securitization has been downgraded by Standard & Poor’s after losses in three of its underlying loans impacted the CMBS bonds.

UBS employees earning over CHF250,000 will have part of their bonuses deferred.

Michael Freilich, a former managing director in structured credit sales at Deutsche Bank in London, has joined StormHarbour Securities as a managing director, also in London.

TriOptima, part of the ICAP Group, has launched a counterparty credit risk analytics service for over-the-counter derivatives.

Cairn Capital is pitching a collateralized loan obligation which will hold the 5% skin-in-the-game portion via a managed structured credit fund of the London-based asset manager.

Mark Wong, managing director and co-head of linear rates trading at Deutsche Bank in Singapore, has left the firm.