Pre-migration untagged articles
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The Swiss franc bond market trundled on this week, but had to rely on an old favourite and a large new deal from a rare issuer to push total issuance to what one banker described as an "acceptable volume".
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The European structured credit market is bracing itself for rising defaults and lower recovery rates for leveraged loans.
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Caisse de Refinancement de l’Habitat on Tuesday pulled back from launching a new covered bond issue it had mandated last Friday (April 18), blaming the events in the German market.
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AMBAC disclosed a net loss of $1.6603bn for the first quarter, or $11.69 a share, on Wednesday.
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BARCLAYS made a profit in the first quarter of this year in spite of "tough" conditions said the group’s chief executive John Varley at the bank annual general meeting on Thursday.
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The last and most established covered bond stronghold against the financial crisis fell this week, when the Association of German Banks (BdB) took control of Pfandbrief issuer Düsseldorfer Hypothekenbank (DHB).
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The Banque Populaire group (BFBP) priced its Eu1bn three year covered bond on Wednesday afternoon at 25bp over mid-swaps, after a protracted bookbuilding process that had begun more than 24 hours earlier.
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BANK of America said on Monday that its profit for the first quarter of the year dropped to $1.21bn from $5.26bn on the same period last year.
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First-out revolvers became common place last spring with IASIS Healthcare leading the pack.
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Who Says There's No Money In the Market?
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-- Som-lok Leung, International Association of Credit Portfolio Managers executive director, about credit portfolio management in the current market conditions.
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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.