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The standard market model for pricing collateralized debt obligations is base correlation, but it suffers from known problems.
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Bear Stearns is adding two floors in Hong Kong.
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Ahead of the Bank of Japan's statement Thursday on whether it would raise interest rates, the market was abuzz with options trading.
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Cheyne Capital Management in London has hired Patrick Vickers, a single-name credit trader at Goldman Sachs in New York, as a portfolio manager.
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Correlation swaps on a basket of commodities are gaining liquidity and a wider range of players.
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Steepening of the credit curve has led to increased demand for forward-starting single-name credit-default swaps and collateralized debt obligation tranches.
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An over-the-counter contract that would protect against the maximum loss on an underlying has started to appear on Street structurers' radar.
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JPMorgan and Cairn Capital are in discussions with investors about their first constant proportion debt obligation.
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--Allan Berliant, portfolio manager at asset management firm GMO, on how short-term trading is affecting prices in the synthetic ABS market.