Pre-migration untagged articles
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Moody’s announced on Monday that it had downgraded 510 CLO tranches from 93 deals totalling about $33bn during the second quarter — this represents 10.7% of all cash flow CLO securities rated by the agency.
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HSBC has regained the top spot on the third party MTN table after losing it to Barclays Capital last week.
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Amid the fanfare of some of the second quarter results, there is a note of disapproval. Larry Fink, BlackRock‘s founder and chief executive, criticised "luxurious" investment banking profits of the last two quarters. "There are fewer players. There is very little capital being committed by these dealers," Fink said. "They’re just taking the spread between the bid and the ask and they are making very luxurious returns."
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A Eu1.45bn five year AyT Cédulas Cajas issue this week confounded sceptics by becoming the first multi-cédulas benchmark to have been successfully placed since November 2007.