Writedowns sail over $300 billion
Total write-downs prompted by the subprime financial crisis have topped $300 billion, according to Creditflux’s tally of announced mark-downs

Vendor launches web-based software to administer CDOs
Vendor launches web-based software to administer CDOs

Investors put cash to work as Latin America avoids subprime contagion
Investors put cash to work as Latin America avoids subprime contagion

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

Senate rescue bill may hurt ABX
Senate rescue bill may hurt ABX

RBC sells off tranche book as it retreats from structured credit
RBC sells off tranche book as it retreats from structured credit

Australian company to launch two structured credit funds in London
A new unit of Challenger Financial Services, the Australian company with AUD45 billion ($42.3 billion) under management

Solent’s Smailes sets sail for sell-side
Solent’s Smailes sets sail for sell-side

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

CDO managers hit by huge loss of fees
CDO managers have lost nearly one-quarter of a billion dollars in annual management fees as a result of the subprime crisis and the carnage in the CDO of ABS market, according to Creditflux’s calculations

Narwhals regain their appetite for triple A CLOs as prices stabilise
Narwhals regain their appetite for triple A CLOs as prices stabilise

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

Dealers look to create clearing system
Dealers look to create clearing system

Custom tranches see trading uptick
Custom tranches see trading uptick

Conservative estimate shows CDO managers lose up to 40% of fees
Conservative estimate shows CDO managers lose up to 40% of fees

Market makers shun tranches
Market makers shun tranches

Angry Australian CDO investors to give Lehman new legal headache
Angry Australian CDO investors to give Lehman new legal headache

Dealers make new tweaks after turmoil leads to model failures
Having overhauled correlation models to address problems caused by a protracted dislocation in the credit market, April’s spread tightening rendered much of the changes unnecessary, say participants

Dealer unwinds could lead to super senior protection buying
Dealer unwinds could lead to super senior protection buying

Traders beat down wrapped CDOs
Traders beat down wrapped CDOs

Dealers wait for delayed CMBX series five amid issuance drought
Dealers wait for delayed CMBX series five amid issuance drought

Magnetar deals hurt arrangers
Magnetar deals hurt arrangers

CDO liquidations point to start of distressed buying
CDO liquidations point to start of distressed buying

Basel II could trigger mass unwinds of super senior hedges
Basel II could trigger mass unwinds of super senior hedges

Managers fight for distressed capital
Managers fight for distressed capital