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May 16, 2012
TEPCO swaps – 1 year later
It’s been over a year since Japan’s nuclear disaster sent radiation (and credit default swaps) spewing into the sky but finally 14 months later, both radiation and CDS are coming down.
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May 10, 2012
Markit iTraxx Japan exceeds 200
For the first time this year, the benchmark index of Japanese credit default swaps crossed 200 basis points.
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April 20, 2012
Relative value in global bank CDS
Bank credit default swaps are trading much wider than other corporates on a relative basis.
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April 18, 2012
Investors dropping on Nokia
While Nokia grows smaller in the global smartphone market, its CDS gets bigger.
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April 17, 2012
Odds of bankruptcy
A quick look at 10-year default probabilities for some global banks and their respective sovereigns
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April 5, 2012
CDS futures continue to languish
Even though talk of a credit default swap futures began as early as a few years ago, it could still be a while before they even see the light of day.
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April 4, 2012
Quanto CDS from boom to bust
The IFR reported about a week ago that it appears the boom in quanto credit default swaps is over and now dealers are looking for ways to exit the product and maybe even the market.
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March 30, 2012
Swaps have YRC driving off the cliff again
It has been 2 years since some CDS and bond investors in YRC Worldwide last pondered bankruptcy as they tried to hold out for a better payback during the company’s highly publicized campaign against derivatives. Now, as the company seems to be brushing up against a possible filing again amid less-than-stellar performance on both an absolute and relative basis, investors can only wonder whether the parent of Yellow and Roadway truck lines will be as successful in averting a crisis this time around.
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March 28, 2012
ICE Clear Credit starts portfolio margining
ICE won approval over a month ago to be able to apply portfolio margining across its bank members and reduce collateral that has to be put up by banks for CDS trades.
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