The extreme volatility in credit derivatives markets since Lehman Brothers collapsed in September has brought sharp leaps and falls in the cost of protecting the debt all kinds of companies. Banks were hardest hit initially, but the gathering global gloom has hit other industries such as mining, oil and gas, carmakers and retailers. Equities are […]
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Medium term valuations in credit appear very compelling. However, credit markets have yet to establish a clear bottom as policy makers struggle to contain the economic fallout from rampant de-leveraging, still falling house prices and limited demand for distressed assets.
We have witnessed US Dollar weakness overnight and into this morning to the benefit of the Euro which surged to a high of 1.3159 (a 1 month high), now trading just below at 1.3130. The uncertainty surrounding the US auto industry is weighing on the Dollar. The bill designed to prevent the collapse of US […]
Loan and credit card providers are bullying customers into buying payment protection insurance (PPI). The PPI hard sell on credit cards and other personal or unsecured loans might be even getting worse as it is rumored that staff bonuses often rest on PPI being sold.
Trading in derivatives market is booming as investors try to benefit from the high market volatility caused by the never ending crisis in the credit markets, and the heightened food and fuel prices that generally push inflation to unprecedented levels all around the globe.
Centaurus Capital Ltd’s chairman and CEO, Bernard Oppetit, said he is buying loans and bonds being sold off by banks and rival funds. “We are seeing some credit and bonds trading at stupid prices,” Oppetit, the $4 billion London-based hedge fund’s founder said in an interview on March, 28. “There are a lot of people […]
Market sources said that sandwich chain Pret a Manger looks determined to head to private-equity sponsor Bridgepoint Capital. Press reports have confirmed that Bridgepoint will purchase the sandwich chain for Â£350 million
Carrefour announced strong sales figures for the fourth quarter and it is expecting a further 6-8% sales growth in 2008 and operating profit growth above that range. And that is excluding acquisitions – the retailer just bought a 75% stake in PT Alfa Retailandon in Indonesia for $72m!
Scenery remains the same, as US dollars keep on falling against EUR, which has nearly reached its highest ever price and now stands at 1.4966.
A recent research report from major US investment bank has shown that low grade bonds have outperformed high grade, not only for the month December, but also for the whole year. However, the Merrill Lynch Global High Yield & Emerging Markets Plus index plunged to 2.59%, which is the second worst full year performance, since