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The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week.
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Todd Steinberg has been promoted from deputy head to head of equities and derivatives for the Americas at BNP Paribas in New York.
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--Scott McMunn, director at Winchester Capital in London, speaking at Fitch Ratings' Global Credit Derivatives Conference last week, on the need for manager tiering to safeguard unwary investors from losses when the credit cycle turns.
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Barclays Capital has combined interest-rate and credit sales teams and the shake up has seen the departure of two senior credit staff.
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Barclays Capital has hired Wu Yue, head of fx sales for Asia at Merrill Lynch in Hong Kong, for a senior role on its fx sales desk, according to firm officials.
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Thomas Spitz, head of credit trading and risk management at Calyon in London, has moved to New York to co-head structured credit and collateralized debt obligations for the Americas with Zain Abdullah.
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Calyon's Arnaud Droitcourt, head of Asian equity derivatives trading in Hong Kong, has quit, according to firm officials.
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Prior to the publication of the Credit Derivative Transaction On Mortgage-Backed Security With Pay-As-You-Go Or Physical Settlement by the International Swaps and Derivatives Association, dealers and users had started executing swaps on sub-prime MBS using customized versions of credit-default swaps and total-return swaps.
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Two credit derivative officials at Citigroup in New York have left the firm, Saul Kattan, managing director, and Greg Miesner, director, both in global structured products.
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The Japanese market is looking into the possibility of bringing about cash-settled credit derivative trades this year.
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Investment products referencing clean energy companies, or so-called eco-tech stocks, are being pitched as the next generation commodity notes for high-net-worth investors.
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A buyers' market has sent three-year swaps on the commercial Investment Property Databank Index careering to about 300 basis points over LIBOR, up 50 bps in the last few months and 200 bps higher on a year ago.
