Pre-migration untagged articles
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CAIRN Capital announced the first closing on its Loan Opportunities Fund yesterday (Thursday.) The fund will be concentrated in the European leveraged loan market and has an open ended structure. It has both euro and dollar investors.
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Until the closing minutes of the New York trading session yesterday (Thursday), the new year had begun for Countrywide Financial much as the old one had ended
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US retailers’ credit default swaps trended wider yesterday in the wake of poor holiday shopping numbers. The Gap, for example, suffered a 6% decline in same store sales from the equivalent period in 2006 and widened 3bp to 115bp/117bp, while Macy’s, which reported a 7.9% decline, was last seen at 190bp/200bp.
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UK Chancellor Alistair Darling appeared before members of parliament at the Treasury Select Committee on Thursday where he explained his motives for the planned extension of powers to be granted to the Financial Services Authority (FSA). News has also emerged of plans to sell on Northern Rock’s debt to the Bank of England.
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Duet Asset Management has launched what it claims is the first index fund to track Sub-Saharan African capital markets, the Duet Victoire Africa Index Fund.
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The ECBC’s decision on market-making announced last Friday has prompted an uneven response, with some banks failing to follow the decision fully.
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The market survived an early test of appetite for lengthy structured covered bonds in Royal Bank of Canada’s Eu1.25bn 10 year transaction, which was priced at 20bp over mid-swaps on Wednesday.