Monthly Archives: March 2009

From the BIS, paper by Ingo Fender and Martin Scheicher claims that declining risk appetite and heightened concerns about market illiquidity have provided a sizeable contribution to the observed collapse in ABX prices since July 2007. Importantly, observed ABX prices … Continue reading →

Porsche made a 6.84 billion euro ($9.0 billion) windfall gain from Volkswagen stock options in its fiscal first half and won a watchdog’s ruling that it broke no rules doing so. I suspect the ruling would have been different had … Continue reading →

Key changes: 1) Restructuring credit event: out 2) Standardised fixed coupons 100/500 3) Standard coupon dates 4) Effective dates: t minus 60 for credit events or t minus 90 for succession events 5) Accrual dates, trade with full coupon, protection … Continue reading →

I was a bit early. S&P strips Ireland of its triple-A rating // Continue reading →

ABS Issuance is doing fine, thx for asking, but it’s all happening in the non-US world. While U.S. issuance is recovering modestly, down 75% yoy, non-US issuance is up 65% yoy. As of march 26th 2009 Source: Asset-backed alert Add: … Continue reading →

Reform International Financial Regulatory Framework: A Few Remarks by the People’s Bank of China The Market Mystique by Paul Krugman We need a better cushion against risk by Alan Greenspan // Continue reading →

Implied Ratings are calculated using a proprietary model developed by CMA and fed with CDS pricing data from CMA DataVision. Source: CMA DataVision Global Sovereign Credit Risk Report Q1-2009 // Continue reading →

Here Add: looking forward to the G20 “communique” // Continue reading →

Paul Krugman: Another way to say this is that by financing a large part of the purchase with a non-recourse loan, the government is in effect giving investors a put option to sweeten the deal. Sheils Bair, FDIC: ….She also … Continue reading →

Except the private investors’ equity participation is higher at 1 for 1 with treasury The Public-Private Investment Program will be designed around three basic principles: Maximizing the Impact of Each Taxpayer Dollar: First, by using government financing in partnership with … Continue reading →