Pre-migration untagged articles

The prices of AAA collateralized loan obligations for the first time have fallen below those of loans in the Standard & Poor's LCD Flow Name Composite.

-- Ron D'Vari, ceo of NewOak Capital, on the recent hire of Alejandro Videla as managing director for restructuring and managing collateralized debt obligations.

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. Data provided by Markit Group.

Wednesday's auction of assets from the Whistlejacket structured investment vehicle has set a new tighter benchmark for trading of structured products for the next few weeks.

The College of William and Mary's $500 million endowment is seeking to increase its exposure to credit strategies.

Structured note enquiry climbed this week on the back of successful public market placements and a rally in equities. Improved market confidence led more investors to seek several types of structured note including CMS bonds, CLNs and callable zeros.

The African Development Bank returned to the Swiss franc market this week after an absence of more than six years. The agency issued Sfr300m of 10 year paper on Monday, lead managed by Credit Suisse.

Syncora, formerly known as XL Capital Assurance, has suspended all claims payments until it has restored its policyholders’ surplus to the minimum required by New York state insurance law. Syncora has a policyholders’ deficit of about $2.4bn, according to the firm.

The UK government is proposing to impose higher capital requirements on systemically important financial institutions. The move raises clear issues about competition and would give big foreign banks an advantage in the UK market.

It was claim, counter-claim this week as TriOptima and Creditex/Markit continued their arguments over which firm is the leader in CDS compression. In response to last week’s announcement that TriOptima had torn up the lion’s share of CDS trades in 2009, Creditex/Markit this week protested that they have got the single name market sewn up.

The Bank of England’s Asset Purchase Facility bought no commercial paper this week, the first time since the facility was launched on February 13 that no issuers or investors have sold paper to the fund. The total held by the fund, though, fell from £2.36bn to £2.14bn. The facility only buys three month paper, so the fall in the total must be because of secondary market purchases maturing. The facility bought £125m of CP in the week closing April 23. Use of the fund had been falling in late March and early April — it bought £76m in the last week of March, £50m in the first week of April and just £15m in the second week of April. But over the week ending 16 April, the APF bought £345m.