Tranche traders set to shun new index series
Tranche traders set to shun new index series

Banks lose nearly $11 billion on contracts with failed monoline ACA
Banks lose nearly $11 billion on contracts with failed monoline ACA

Traders look to put on positions ahead of revamped iTraxx roll
Traders look to put on positions ahead of revamped iTraxx roll

CDS hard-wiring project leaves restructuring out in the cold
CDS hard-wiring project leaves restructuring out in the cold

Volumes stay small as secondary CLO traders hold out for price appreciation
Volumes stay small as secondary CLO traders hold out for price appreciation

Reg cap switches prompt sharp moves in high yield tranches
Banks adopting the Basel II capital standard may have been behind last month’s big selling of super senior LCDX tranche protection, correlation traders speculate

Covenant language drives trading
Covenant language drives trading

New CLO issuance flourishes beneath the radar
New CLO issuance flourishes beneath the radar

JP Morgan pulls plug on deal for Prytania CDO model
JP Morgan ditched plans to buy a cash CDO evaluation model from Prytania Group in the wake of the bank’s acquisition of Bear Stearns, it has emerged.

XL Capital Assurance dissolves CDO team
XL Capital Assurance dissolves CDO team

Deferrals and correlation put trups CDO ratings under the spotlight
Deferrals and correlation put trups CDO ratings under the spotlight

Volatility encourages active credit trading in financials
Volatility encourages active credit trading in financials

RBS looks to off-load Brushfield
Royal Bank of Scotland may sell Brushfield Capital Management, a principal investment business it inherited from ABN Amro, to its former management team

Japanese CDS volumes rise quickly as risk of defaults increases
Japanese CDS volumes rise quickly as risk of defaults increases

Regional bank reclassifies CDO holdings to avoid mark-to-market
Regional bank reclassifies CDO holdings to avoid mark-to-market

Growth of “no colour” trading holds back secondary CDO liquidity
Some market practitioners believe visibility is getting worse, not better

Rising default risk triggers growth in recovery trading across the board
Rising default risk triggers growth in recovery trading across the board

Kelda refinancing plans create uncertainty over CDS
Continuing uncertainty over utility company Kelda Group’s corporate restructuring has left its credit default swap spreads in limbo, say traders

Defaults spike points to turn in credit cycle
Defaults spike points to turn in credit cycle

CDS compression service set to test dealers’ back-office systems
CDS compression service set to test dealers’ back-office systems

Single name bets prompt tranche steepener trades
Single name bets prompt tranche steepener trades

Five funds added to Creditflux list
Creditflux’s listing of credit fund returns has been expanded this month with the addition of five funds, taking the tally across categories to 49.

S&P eyes move that could devastate the CSO market
Standard & Poor’s may be about to revise its corporate CDO ratings criteria, say well-connected sources

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

ACA Capital to be wound up within weeks
ACA Capital to be wound up within weeks