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Increasing liquidity and correlation in credit index and equity volatility products has firms investigating how to arbitrage the two.

The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week.

--Mark MacQueen co-founder and portfolio manager at Sage Advisory Services, on why he has been cutting back on the corporate allocation in his portfolio.

Mark MacQueen, co-founder and portfolio manager of around $4 billion at Sage Advisory Services is cutting back on his allocation to corporates and is reinvesting that money into agencies.

ABN AMRO has hired Phoebus Theologites, managing director and global head of structuring at TD Securities in London.

Barclays Capital is planning to launch a G-7 derivatives business onshore in China in the first quarter as it expects to open its first branch on the mainland within coming weeks.

Five-year credit-default swap spreads on embattled independent power producer Calpine started trading upfront after its management shakeup Tuesday.

Calyon recently closed AUD40 million (USD29.4 million) CPPI-linked notes referenced to two credit indices for the Australian market, which the firm believes is a first.

Citadel Investment Group has nabbed Mark Stainton, managing director and global head of credit correlation trading at Deutsche Bank in London, to head its 50-person energy trading business.

The nascent U.S. market for credit-default swaps on levered loans is struggling to get off the ground, even as more banks are getting involved.

Commerzbank is planning to establish a Hong Kong credit and equity derivatives trading desk next year, less than a year after shutting shop in Japan.

William Pang, director and credit derivatives trader at Barclays Capital in Hong Kong, is rejoining Deutsche Bank in Singapore, according to officials.