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Secondary Marketplace Par Credit Trading Activity This chart, provided by Citigroup Global Markets, tracks bid-ask prices for par credit facilities that trade in the secondary market.

Dan Brereton, head auto trader at UBS, has resigned and will be joining BNP Paribas in New York in a senior role.

London-based Insight Investment is focusing on double-B rated bonds and is also willing to take risk in double-B-like investments due to the scarcity of new issues in the rating class in Europe.

Banc of America Securities and Morgan Stanley are providing an all-bank debt financing to back Walter Industries $1.9 billion acquisition of Mueller Water Products from DLJ Merchant Banking.

Emerging debt performed well this week within an overall risk-friendly market sentiment

Equity-default swaps will struggle to take off because they lack practical use and are more of a novelty, Richard Martin, head of quantitative credit strategy with Credit Suisse First Boston in London, told the seminar.

Credit Suisse First Boston has hired Alex Melis, head of the fixed-income Dutch sales team at BNP Paribas in London, in a similar role.

Crédit Agricole Asset Management, a French fund manager with EUR355.1 billion under management, is gearing up to manage a capital-protected portfolio of credit-default swaps and cash assets.

Bank of America has bagged Charlie Cho, co-head of flow trading at Credit Suisse First Boston in London, for a managing director slot in credit derivatives.

Monoline wrapping of asset-backed securities is on the decline because market players can achieve AAA-rated ABS through collateralized debt obligations for a better price, said Chris Flanagan, head of ABS research with JPMorgan in New York.

Inflation-linked dealers in the U.K. are struggling to meet demand from pension funds for inflation swaps with embedded options.