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  • Investors in collateralized debt obligations should focus on first-loss pieces and deals backed by European investment-grade equity debt.
  • In the first two months of 2004, the auto sector has continued to make good on its reputation for volatility. Although volatility is nothing new to
  • Representatives from the issuer, investor and rating agency communities are confident the European covered bond market will diversify geographically, undermining Germany's dominance of the industry.
  • Craig Ruch, formerly a senior trader at Janus Capital Group, starts later this month as an investment-grade portfolio manager at Credit Suisse Asset Management in New York, according to an official at the firm.
  • Holders of bonds issued by companies that are distressed, insolvent or undergoing a restructuring need to get more proactive in order to maximize value, Bill Derrough, managing director at Jefferies & Co., told delegates.
  • Dealer shelf transactions are becoming a more significant slice of the U.S. asset-backed market, as tight bond spreads allow investment banks to bid aggressively on collateral pools and securitize them at attractive levels.
  • About 2,000 fixed-income industry professionals gathered at the 10th Euromoney Bond Investors Congress at the Queen Elizabeth II Conference Centre in London last week.
  • Gabelli Asset Management is looking to invest about $250 million in floating-rate securities, with a focus on adding agency floaters to add flexibility in anticipation of an increase in interest rates.
  • CRT Capital Group, a high-yield and convertible bond broker based in Stamford, Conn., has hired Sal Abbatiello as a senior v.p. in high-yield sales.
  • Fort Washington Investment Advisors plans to buy $800 million worth of high- and low-coupon gross-weighted jumbos to take on stable yields and convexity.