Pre-migration untagged articles

Emerging market bond investors were so eager to spice up their returns before year-end this week that they lapped up deals from three countries that have recently defaulted on or restructured sovereign debt — Ecuador, the Dominican Republic and Argentina.

Emerging market bond investors were so eager to spice up their returns before year-end this week that they lapped up deals from three countries that have recently defaulted on or restructured sovereign debt — Ecuador, the Dominican Republic and Argentina.

The European ABS market saw two records broken this week as ABN Amro and Royal Bank of Scotland launched two securitisations from their own balance sheets, both of them the largest issues yet for the respective asset classes.

The growth of electronic trading in the CDS market is in part underpinned by the worries of regulators about paper-based trading procedures in the mushrooming CDS market. The Dutch central bank became the latest regulator to worry about the backlog of trade confirmations and novation without consent in the CDS market in a report on stability released this week.

The development of a US tax-deductible hybrid capital securities market surged ahead this week as investors eagerly snapped up more than $1.7bn of deals and rumours circulated of another ground-breaking transaction that could be announced as early as today (Friday).

The development of a US tax-deductible hybrid capital securities market surged ahead this week as investors eagerly snapped up more than $1.7bn of deals and rumours circulated of another ground-breaking transaction that could be announced as early as today (Friday).

Did Barclays briefly send a Siberian chill through the banking sector last week? Because Barclays and Barclays Capital have performed so well, was too much expected of the largest UK clearing bank?

US dollar swap spreads traded directionally with Treasuries this week, and as the 10 year note dipped below 4.5%, spreads narrowed by about 0.75bp on the week. The 10 year note stood at 4.46% yesterday (Thursday) afternoon in New York, after trading above 4.5% during the previous week. The two year closed the day at 46bp, while the five year was 53bp, the 10 year was 56bp and the 30 year was 54bp.

The Republic of Lithuania today issued the first deal off its Eu1.5bn EuroCP programme.

The front end of the euro swaps curve flattened this week, despite the confusing and often inconsistent comments about policy emanating from officials of the ECB. The 2s/10s flattened to 57.5bp by the close yesterday (Thursday), the flattest since 2000, said dealers. In the first half of this year, it traded above 125bp.

Fitch downgraded Hungary's long term foreign currency rating from A- to BBB+ this week. It is the first downgrade of the country's debt by any of the three main rating agencies for 15 years.

Fitch Ratings announced on Tuesday that it was rolling out its new rating methodology, which takes greater account of expected recoveries after a default, for virtually all its international scale ratings worldwide.