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The governor of the state bank of Pakistan points out the key trends

Market participants predict Fannie Mae spreads could grind tighter as the mortgage company resumes buying back its debentures due to its shrinking portfolio growth and lower funding needs.

The deal between Allied Capital and its asset management subsidiary, Callidus Capital Management, to buy Katonah Capital Management is off.

Brian Edmonds, head of Treasury and agency trading at Banc of America Securities, has been bumped from his role by the recent hire of Lehman Brothers veteran J.P. Marra, who is taking over the top spot at BofA.

Barclays Capital in London is preparing its inaugural commercial mortgage-backed securitization and plans to establish a full-scale conduit program through which it will issue about £2 billion of bonds this year, according to Christian Janssen, director in European CMBS.

A Chicago-based asset manager is ramping up its outreach to institutional clients.

Marc Badner, executive director in credit sales at Morgan Stanley in New York, has left the firm and is headed to RBS Greenwich Capital Markets in a similar role.

Morgan Asset Management will swap up to $250 million out of the wings of its agency and Treasury holdings to the belly of the curve by June.

--Rod Dubitsky, managing director and head of asset-backed research at Credit Suisse First Boston, on a study showing how rising medical costs are playing a greater role in forcing even middle class consumers into bankruptcy and the study's implications for the bond market.

Loan Market Week is launching a new feature designed to highlight key issues in the market. This week James Batterman, senior director in the credit policy group at Fitch Ratings, highlights what defines a credit event triggered by a restructuring under current ISDA language.

The importance of key man provisions and the ability to remove managers is taking center stage after a burst of merger activity and performance-related issues at some funds.