Pre-migration untagged articles

Hoare Capital Markets, an independent wholesale broking boutique, was launched in London this week. The firm, based in Mayfair, will specialise in OTC derivatives and securities, with a focus on inflation derivatives, property derivatives, fixed income and structured products.

Four European financial institutions are nearing or have finished completing preparations for their covered bond programmes, showing that the instrument continues to win converts despite the paralysis in the public markets and its travails during the crisis.

In another session of wild price action, 30 year swap spreads crunched violently lower from minus 30bp to minus 60bp yesterday (Thursday), said dealers in New York at the close.

Several monolines took more steps to salvage their businesses this week, with the last remaining triple-A rated legacy monolines consolidating and Ambac commuting $3.5bn of credit default swap exposure. Ambac was also downgraded by Standard & Poor’s to A from AA.

Looks like even the King Of Pop can't evade the credit crisis.

Rob Milam, managing director and head of par loan and loan credit derivative trading for JPMorgan, moved off the desk to become the head of head of high-grade trading, which includes high-grade corporate bonds, credit derivatives, indexes and preferred stock trading at JPM.

Kenneth Emery, Moody's Investors Service director of corporate default research, on bond spreads hitting the 1500 range and the expectation of the U.S. default rate topping 10%.

Bank of Ireland is widely expected to be the first Irish borrower to issue government guaranteed MTNs, having released an updated MTN programme supplement yesterday including details of the guarantee.