Broker hires credit trading head
Broker hires credit trading head

Ex-Calyon team set to go live with Chenavari Dislocation Fund
A high-profile credit fund manager – Chenavari Credit Partners – is understood to be on the point of launching

Recently launched fixed-income boutique to add credit trading arm
Recently launched fixed-income boutique to add credit trading arm

Three-year LCDX tranche activity dominates
Month-end hampers some flow, but trends still visible in LCDX.

FSA leads mini rally in bond insurers
FSA's CDS tightens hundreds of basis points on credit line.

OCC survey shows renewed focus on fundamental credit risk
OCC says underwriting standards tightened for all commercial loan products.

Radian blows further in CDS as mortgage sector under pressure
Radian, Ambac and MBIA among the session wideners.

WaMu CDS takes a hit on expectations of more mortgage losses
A UBS report adds to Washington Mutual's gloomy outlook.

Rights offerings turn financial CDS relationships upside down
Barclays' potential rights offering points to more spread widening.

ICE agrees to buy Creditex
ICE agrees to buy Creditex

Penultimate shorters scared away by prepayment prospects
Penultimate shorters scared away by prepayment prospects

ICG posts £230 million profit but notes credit fund mark-to-market fall
Intermediate Capital Group has released end-of-year figures showing the fund/CDO manager and specialist provider of mezzanine finance made pre-tax profits of £230 million in the 12 months to 31 March – up from £224 million (or 2%) in the previous year

Monolines move out amid new FASB statement
Ambac says FAS 163 is consistent with its current loss recognition methodology.

Barcap returns Q1 profit despite £1 billion new credit write-downs
Barclays today issued an interim statement revealing just over £1 billion additional credit-related write-downs at Barclays Capital in the first quarter

Merger and acquisition talks heat up TMT CDS
Clear Channel and EDS gyrate in credit default swaps over separate talks.

Calyon loses more structured credit staff and others face redundancy
Departures from Calyon’s structured credit business moved up a gear in April, with a series of high profile defections and position shuffling

Multi-strategy fund changes course and piles into loans
GSO Capital’s $1.5 billion flagship multi-strategy fund, the GSO Special Situations Fund, has made a tactical switch into loans in recent months, according to buy-side sources

Manager launches distressed fund of funds
Manager launches distressed fund of funds

LCDX trading ends week with direction reversal
Last week’s activity in North American leveraged loan index LCDX saw widening of series ten junior tranches, while senior parts rallied

UK bank makes further write-downs
UK bank makes further write-downs

Insurance giant write-downs reach nearly $30 billion
Insurance giant write-downs reach nearly $30 billion

Hedge fund manager sees 12% decline in assets under management this year
Rab Capital said in a statement today that its assets under management have fallen by 12% since the start of the year

ResCap's debt obligations creating stir in CDS
GMAC still trades at distressed levels due to ResCap.

REITs partake heavily in recent financials rally
iStar Financial is a far cry tighter than its recent distressed levels.