Pre-migration untagged articles

UP TO 11,000 jobs in the City of London could be cut over the next three months, according to a report by the Confederation of British Industry published this week.

Moody’s has downgraded the mortgage covered bonds of Hungarian Land Credit & Mortgage Bank (FHB) from Aa2 to Aa3 following its privatisation. In response, FHB has signed a contract to guarantee a certain level of over-collateralisation above the statutory requirement.

Bear Stearns was the most actively traded single name in the US credit default market in March, according to figures released this week by GFI, the leading CDS broker.

The sudden awakening of the global bond market from a long sleep brought a host of swap-driven new issues this week.

Landsbanki Islands and Kaupthing self-placed fixed rate packages worth Eu500m each this week, spread between the one and three year maturities.

US bond syndicate bankers were trying their very best not to get carried away with the success of the high grade bond market this week, but were not entirely succeeding.

The US Treasury unveiled a sweeping overhaul of the country’s financial regulatory system on Monday.

WestLB reported its first loss in three years on Wednesday, as it suffered Eu2.01bn in writedowns on the back of capital market turmoil.

XL Capital Assurance has filed a counterclaim against Merrill Lynch’s suit over XLCA’s termination of credit default swaps written on notes of seven CDOs.

Investors headed West for the Credit Suisse Global Leveraged Finance Conference in Phoenix last week.

Homebuilding debt tumbled amid multiple market woes including Beazer Homes USA, one of the bigger names in the sector, whose bonds had dropped three to four points due to sub-prime spending distress and an FBI investigation.

-- Anthony Castillo, analyst at Dealogic, on the fattening margins on new second-lien debt as volumes wane.