Pre-migration untagged articles

Merrill Lynch has launched a temperature-linked certificate for Italian retail investors, in what it is claiming is a first for the weather derivatives market.

Sweden

Asset backed commercial paper conduits caught the contagion from the US subprime mortgage crisis this week as their spreads in the EuroCP market spiked by as much as 4bp — a large amount for a market that usually trades in a much tighter range.

Private placement and structured note investors took flight this week — and not just to take early summer holidays — with only patchy demand evident for new issues.

Swiss investors remain dedicated to only the most high quality issuers but their focus has shifted beyond the recent three year craze.

Goldman Sachs has moved up a spot to sixth place on the private placement structured note league table following a strong showing in long dated yen and its latest equity-linked deals.

HM Treasury finally published its proposed "recognised covered bond" legislation on Monday, revealing the flexible framework that UK market participants had hoped for.

Global credit indices gapped open yesterday (Thursday) on a day of frantic, breathless selling that left dealers predicting even higher prints as the global credit tremor rumbled and shuddered ever more ominously.

Banco Bilbao Vizcaya Argentaria tested the market’s patience with a punchy Eu1bn five year cédulas territoriales this week, but got away with a fully subscribed issue at price guidance.

There have been better times to be a US mortgage company. To add to the credit problems in the market, it emerged this week that Beazer Homes, which makes loans to first time buyers as well as building houses, is undergoing a federal investigation into fraudulent mortgage practices.