Derivs - Credit

Bear Stearns senior managing director Adam Siegel recently left the company and Gyan Sinha, also a senior managing director, will be moving on in early June.

Standard & Poor's is undergoing yet another round of layoffs from its ratings group, including senior people in the new assets and residential mortgage-backed securities areas.

A new contract for loan-only credit-default swaps that removes the cancelability option could be out to the market for a test run in as little as three to four weeks.

Very few if any of the nearly 200 collateralized debt obligations in default have done so because of missed payments.

CMBX 5, the latest iteration of the commercial mortgage-backed securities index--was rolled out last week after a month-long delay.

Investors rattled by the credit crisis are turning away from complex credit derivative structures and returning to simple structures.

News Moody’s Investors Service downgraded telecoms group Deutsche Telekom led to an uptick in credit-default swaps trading on the name this week.

An increase in companies exchanging date over the past month has credit-default swap investors looking to take advantage of related changes in the price of protection on the companies.

Fitch Ratings placed a swath of structures on ratings watch negative today as it began re-rating corporate collateralized debt obligations under its new rating criteria.

Chandrakarant Mohanty has set up an asset management firm based in Hong Kong called Fundamental Value Partners.

Bankers and hedge funds are questioning the future of single-tranche collateralized debt obligations and the associated correlation trading business.

Matt Zola, London-based global head of structured credit products for Morgan Stanley, is leaving the firm.