Derivs - Credit

New York-based Deister Capital Fund is about to launch a long/short credit fund focusing on corporate paper, credit-default swaps and loans.

Asian credit analysts are advising investors to buy credit default swap protection on Indian private-sector banks such as ICICI Bank and sell protection on state owned banks such as State Bank of India.

Ron D’Vari, head of structured finance at BlackRock, has left the firm to work on a joint venture to restructure failed real estate investment trusts and mortgage originators.

Europe’s iTraxx Main index gapped out to 96.5 basis points Monday morning, after trading at 90 bps a week earlier.

Korean insurance companies are lobbying the government to overhaul the insurance business act to allow them to sell derivatives and structures with embedded derivatives to institutional investors.

Armins Rusis, head of global securitized and structured credit trading and U.S. credit trading at Morgan Stanley, has joined Markit as an executive v.p. and global co-head of fixed income.

Tiden Capital, a Durham, N.C.-based hedge fund firm founded by Silverback Asset Management veterans John Burkert and Rex Goulding, is launching a new fund Sept. 1 focused on relative value within the structured credit market.

The iTraxx Main index pulled in to 86.5 basis points this morning, after gapping out to as wide as 112 bps mid-July.

Morgan Stanley credit analysts are urging Asia credit default swap investors to switch out of cyclical into non-cyclical exposure to tap into better credit default swap spreads and ratings.

There are short-term one-to-two-year investing opportunities in credit default swaps on Japanese consumer finance company Aiful, according to Deutsche Bank.

Dallas-based hedge fund Carlson Capital has hired Scott Logie, reportedly to set up a structured credit business.

More investment-grade credit investors are turning to credit default swaps to take corporate issuer exposure.