Pre-migration untagged articles

For the sixth successive month, autos were the most active sector in the US CDS market in August, according to a report on business seen at the CDS broker GFI. Also once again, the next most active sector was auto parts suppliers. The five most active names in the US market were all drawn from these two areas: General Motors Acceptance Corporation, General Motors, Ford Motor Credit, Delphi and Visteon. Delphi widened yet further this week as a Canadian auto union dismissed management plans to cut wage costs and health benefits.

Fannie Mae, the US mortgage agency, appointed Bank of America at the end of August as a Euromarket dealer on its universal short term debt facility.

New issuance levels in the EMTN market grew this week as investors and issuers returned after the summer break. Deal flow in the vanilla market was up sharply as a raft of borrowers issued public and private deals.