Hermes Investment Management says recent research has identified a clear link between companies with better ESG scores and their ability to benefit from narrower spreads on credit default swaps. The data comes from the Credit and Responsibility teams at Hermes, which has pursued further research following a study published in 2017, which looked to develop a pricing […]
Luxembourg-based credit specialist YCAP has renamed its YCAP High Yield fund to YCAP High Yield Extensus Fund, in a bid to reflect the funds altered investment concept. The fund, which aims to pursue an unconstrained, value-driven investment approach, has now expanded its investment universe to include Credit Default Swaps (CDS). The fund’s portfolio manager Olga […]
Jon Jonsson (pictured), senior portfolio manager, Global Investment Grade Fixed Income at Neuberger Berman argues that although European government bond yields bear little relation to economic fundamentals, zero-weighting or short selling them is a risky option. The European Central Bank president’s latest press conference was not a market-moving event but it did not lack excitement. […]
Post trade risk management firm TriOptima says it eliminated $84trn in OTC derivatives notional principal outstanding in 2012: $80.5trn in interest rate swap notionals and $3.5trn in credit default swap (CDS) notionals.
Almost a third of non-cleared North American single-name credit default swaps (CDSs) could be cleared by central counterparties (CCPs) today, according to new analysis conducted by the Securities and Exchange Commission (SEC).
The Investment Management Association, the trade body for the UK’s £4trn asset management industry, has expressed concern at draft technical advice offered by the European Securities and Markets Association (ESMA) on the regulation of short selling.
There is no causal link between credit default swaps (CDS) and sovereign debt prices, new research published by the French EDHEC-Risk Research Institute indicates.
Fitch Ratings has cut Greece’s long-term foreign and local currency Issuer Default Ratings to ‘Restricted Default’ from ‘C’, following yesterday’s debt deal.
Fitch Ratings has lowered Greece’s long-term issuer default rating to ‘CCC’ from ‘C’, suggesting a default on Greek government bonds is “highly likely”.
Ian Marsh, professor of Finance at Cass Business School in London, has warned that the EU agreement to ban trading in naked sovereign credit default swaps creates other problems for the market.