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Morgan Stanley has hired Joe Solan, executive director in equity structured products in New York, from Citigroup.

Implied volatility on the European iTraxx Crossover hit an all-time low of 35% last week and sparked an uptick in long-dated option buying on the index.

"P.A.U.G. sounds like a Soviet car. I was relieved to find out it meant pay-as-you-go."

Dealers were expecting physical settlement of single-name credit-default swaps on Delphi Corp. to be smoother than anticipated on first news of the default.

Swiss Re is to launch into credit structuring, particularly CDOs, in Asia on the back of setting up a desk in Hong Kong.

--Rupertus Rothenhaeuser, head of the private investor group at ABN AMRO in Hong Kong, on his return to his native Frankfurt as head of structured fund sales at DWS Investments.

Eric Glicksman, managing director and former head of equity structured products at Wachovia Securities in New York, has left the firm.

Citigroup's head of fixed-income sales for France has left the firm.

Taiwan banking giant Chinatrust is considering structuring cash and synthetic collateralized debt obligations next year, for which it would partner with international credit houses.

The head of equity structured products at Wachovia Securities in New York has left the firm.

Ming Shao, senior portfolio manager of $500 million in high yield at DuPont Capital Management, remains interested in the auto sector but has been putting his new cash to work in treasury inflation index bonds.

Blockbuster is looking to increase the coupon on its $550 million "B" term loan by 75 basis points and pay a fee of 25 basis points to get an amendment on the credit.