Pre-migration untagged articles
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The private placement and structured note markets ground to a halt this week as cheap public market deals gave investors more than enough new vanilla issues to consider while structured note investors showed few signs of returning soon.
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the European Central Bank kept rates at 4% yesterday (Thursday) and the reaction of the euro swaps market to this and ECB president Jean Claude Trichet’s accompanying press conference was described by a veteran dealer as "muted".
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DANSKE Bank reopened the euro benchmark primary covered bond market on Monday, increasing the size of its euro jumbo debut from Eu1bn to Eu1.25bn, in contrast to its decision earlier this year to eschew international issuance for more attractive domestic funding.
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FINANCIAL institutions made a successful return to the Swiss franc market this week as issuers such as Deutsche Bank and UBS found investors’ demand for fixed rate notes.
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THE DEXIA group demonstrated on Wednesday the diversity of funding options it enjoys, adding a jumbo Pfandbrief to its issuance this year. The Eu1.5bn two year issue nevertheless showed the limits of what banks can achieve in today’s market.
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BANCA Carige is setting up a Eu5bn covered bond programme that it plans to finalise by the end of September, according to an official at the bank.
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-- Derek Haught, v.p. at Tropicana Entertainment, on the rationale for selling off a casino asset.
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The high-yield market has priced in a recession despite current default rates hovering below 1%.
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A consortium of bankers was prepping the LCDX index, reflecting an underlying 100 loan-only credit default swaps on corporations.
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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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Deutsche Bank said on Tuesday that it expects to writedown close to Eu2.5bn ($3.9bn) for the first three months of 2008. It earlier announced that it was likely to miss its pre-tax profit target of Eu8.4bn for 2008.