Pre-migration untagged articles

-- Stephen Murray, CCMP Capital ceo, on selling investments over the past year.

The UK Investment Management Association last Friday (October 26) called for changes to HM Treasury’s planned Recognised Covered Bond (RCB) framework to make it more prescriptive and requested a delay to its planned implementation on January 1 2008.

JP MORGAN priced the Eu400m Ares Euro CLO II last Friday. Ares Management Ltd is the investment manager.

Every picture tells a story. The photograph of Stan O’Neal on the front page of the Financial Times on Thursday, October 25 said it all. The normally composed and ice-cool O’Neal was flustered and sweaty.

Moody’s has downgraded 47 triple-A tranches consisting of approximately $3.97bn of 39 CDOs, and placed a further 145 triple-A tranches worth $34.1bn of 80 CDOs on review for possible downgrade.

Overall private placement volumes have held up well since the summer, the table above shows, with total volume reaching nearly $80bn, or nearly one fifth of the total for the entire year so far.

DEUTSCHE Bank’s shares rose by 4% to Eu92.45 on Wednesday after it posted third quarter net income of Eu1.6bn, a slightly better result than indicated in its profit warning of October 3.

Northern Rock bolstered its team of advisers this week, whilst signalling that various takeovers mentioned in the press are still at an early stage.

There was some single name action in the CDS market, chiefly in the first part of the week, before the fundamental picture began to reassert its importance.