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TD Securities has withdrawn from the U.S. high-yield market to focus on investment grade and asset-backed credit derivatives and to this end recently reduced its New York-based staff from 18 to 16.

Genworth Financial has entered interest rate swaps totaling USD1.58 billion (notional) in anticipation of issuing notes worth a total USD1.9 billion, which were being marketed last week.

Barclays Global Investors is overweight the shorter-end of the curve in low beta single-A and triple-B names--rather than more highly rated LIBOR-related names--based on the view that fundamentals will remain strong and swap spreads will widen.

Blaylock-Abacus Asset Management plans to cut duration aggressively, jettison entirely its short-dated Treasuries position and add collateralized mortgage obligations and other mortgage-backed assets for better yield in the coming months.

Attendees at the Commercial Mortgage Securities Association's 10th Annual Convention last week in New York expressed concern over lower subordination levels, the erosion of lending standards and some of the structural safeguards put into place 10 years ago, according to BW sister publication Real Estate Finance & Investment.

The volume of residential mortgage-backed securitizations in Europe will fall significantly as a portion of overall asset-backed securitization, as a result of the imminent introduction of the Basel II capital adequacy rules, according to securitization experts.

Moody's Investors Service has revised its rating terminology to more accurately reflect the appropriate subordination levels in U.S. collateralized debt obligations.

--William Freeman, Leap Wireless' ceo on the buzz surrounding the company.

--Alan Beller, director of the division of corporation finance at the Securities and Exchange Commission, laying down the law regarding a discussion paper on proposed rules governing loan pool data disclosure in the ABS market.

The European Investment Bank read the defensive mood of the bond market perfectly this week and moved quickly to take advantage by launching a $3bn two year global bond.

The International Swaps and Derivatives Association is in talks with banks over whether the U.S. over-the-counter derivatives markets should close on Friday along with the exchanges, which are shuttering to mark the funeral of former President Ronald Reagan.