Covered Bonds: A Primer On The Underlying Risks (00:07:28 min)
The covered bond asset class enjoys significant interest from both investors and issuers around the globe, with €80 billion issued in the first 10 weeks of 2011 and new legislation being contemplated in the U.S. In this podcast, Standard & Poor's Associate Director Sabine Daehn, of Structured Finance Research, discusses recent developments in the sector and highlights the diverse risk dynamics underlying different covered bond programs.
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Tuesday, March 22, 2011
S&P: A Sluggish Economy And Weak Housing Market Keep The Outlook Negative For U.S. Mortgage Insurers
A Sluggish Economy And Weak Housing Market Keep The Outlook Negative For U.S. Mortgage Insurers (00:11:54 min)
A sluggish economic recovery continues to hinder the prospects of U.S. mortgage insurers. Moreover, our outlook on the sector remains negative because its fortunes are closely tied to higher employment and home sale rates. In this CreditMatters TV segment, Director Ronald Joas provides an overview on why sector recovery remains elusive, despite lower delinquency rates, higher-quality business, and pending regulatory reform.
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A sluggish economic recovery continues to hinder the prospects of U.S. mortgage insurers. Moreover, our outlook on the sector remains negative because its fortunes are closely tied to higher employment and home sale rates. In this CreditMatters TV segment, Director Ronald Joas provides an overview on why sector recovery remains elusive, despite lower delinquency rates, higher-quality business, and pending regulatory reform.
Watch | Download
S&P: February 2011 Credit Card Quality Index: What’s Behind The Mixed Performance
Standard & Poor’s February 2011 Credit Card Quality Index: What’s Behind The Mixed Performance (00:08:24 min)
Standard & Poor’s monthly credit card quality index (CCQI) aggregates pools of credit card receivables since 1992. For February, the CCQI reported an increase in credit card defaults and a continued decline in receivables balance. In this podcast, Standard & Poor’s Director Ildiko Szilank discusses what’s behind the credit card loss rate, stronger credit quality, the decline in credit card receivables, credit card lending practices, and Americans’ spending patterns observed during the month.
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Standard & Poor’s monthly credit card quality index (CCQI) aggregates pools of credit card receivables since 1992. For February, the CCQI reported an increase in credit card defaults and a continued decline in receivables balance. In this podcast, Standard & Poor’s Director Ildiko Szilank discusses what’s behind the credit card loss rate, stronger credit quality, the decline in credit card receivables, credit card lending practices, and Americans’ spending patterns observed during the month.
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Sunday, March 20, 2011
emii.com: Paulson Losing Money Through Mid-March
Paulson Losing Money Through Mid-March
03-18-2011 | Source: Institutional Investor Magazine
John Paulson continues to struggle this year. The gold bug’s Paulson Advantage Plus fund lost 4.42 percent in the first two weeks of March alone, through last Friday. As a result, the Event Driven hedge fund was down 1.76 percent for the year through March 11, according to an investor.
03-18-2011 | Source: Institutional Investor Magazine
John Paulson continues to struggle this year. The gold bug’s Paulson Advantage Plus fund lost 4.42 percent in the first two weeks of March alone, through last Friday. As a result, the Event Driven hedge fund was down 1.76 percent for the year through March 11, according to an investor.
Saturday, March 19, 2011
MSN: Is the Nonperforming Loan Market Now a Bust?
Is the Nonperforming Loan Market Now a Bust?
Friday, March 18, 2011
By Paul Muolo
Depending on who you talk to, the 'current' nonperforming loan market is either a bust or a great opportunity – or perhaps something in between. That covers all the scenarios, really, but I know of at least two firms that have exited the business over the past six months, with one more on the way. Then there are the recent layoffs at Kondaur Capital. Kondaur chief Jon Daurio recently told us that after the staff cuts his business was once again cash flow positive. That's good news, but the 'troubles' I've been hearing about of late center on mostly smaller players. One investor told me that certain private equity and hedge funds are beginning to turn up their noses on the NPL space – but not because the profits are poor. "You can get an IRR [internal rate of return] of 13% on this business still, but some of these funds are saying that's not good enough anymore – they can make 20% by trading currency," an NPL player told me. In other words, it's all about "the trade"…
Friday, March 18, 2011
By Paul Muolo
Depending on who you talk to, the 'current' nonperforming loan market is either a bust or a great opportunity – or perhaps something in between. That covers all the scenarios, really, but I know of at least two firms that have exited the business over the past six months, with one more on the way. Then there are the recent layoffs at Kondaur Capital. Kondaur chief Jon Daurio recently told us that after the staff cuts his business was once again cash flow positive. That's good news, but the 'troubles' I've been hearing about of late center on mostly smaller players. One investor told me that certain private equity and hedge funds are beginning to turn up their noses on the NPL space – but not because the profits are poor. "You can get an IRR [internal rate of return] of 13% on this business still, but some of these funds are saying that's not good enough anymore – they can make 20% by trading currency," an NPL player told me. In other words, it's all about "the trade"…
Friday, March 18, 2011
WSJ: U.S. Libor Probe Includes BofA, Citi, UBS
BUSINESS|MARCH 18, 2011
U.S. Libor Probe Includes BofA, Citi, UBS
By DAVID ENRICH, CARRICK MOLLENKAMP And JEAN EAGLESHAM
As U.S. regulators home in on at least three banks in a probe of manipulation of a key benchmark rate, investigators face challenges proving wrongdoing because banks report and obtain borrowing costs in an opaque process that leaves a scant evidence trail, according to people familiar with the situation.
U.S. Libor Probe Includes BofA, Citi, UBS
By DAVID ENRICH, CARRICK MOLLENKAMP And JEAN EAGLESHAM
As U.S. regulators home in on at least three banks in a probe of manipulation of a key benchmark rate, investigators face challenges proving wrongdoing because banks report and obtain borrowing costs in an opaque process that leaves a scant evidence trail, according to people familiar with the situation.
S&P: U.K. Banks Continue To Recover, But Regulatory Changes Loom
U.K. Banks Continue To Recover, But Regulatory Changes Loom (00:06:32 min)
U.K. bank results for 2010 indicate an ongoing gradual recovery from the global financial crisis and recession. But how will impending regulation affect the sector's recovery? In this CreditMatters TV segment, Standard & Poor's Director Richard Barnes discusses the trends shaping the U.K.'s banking sector and the potential effects regulatory changes could have on banks' operations.
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U.K. bank results for 2010 indicate an ongoing gradual recovery from the global financial crisis and recession. But how will impending regulation affect the sector's recovery? In this CreditMatters TV segment, Standard & Poor's Director Richard Barnes discusses the trends shaping the U.K.'s banking sector and the potential effects regulatory changes could have on banks' operations.
Watch
S&P: Why U.S. Consumer Credit Defaults Declined in February 2011
Why U.S. Consumer Credit Defaults Declined in February 2011 (00:07:05 min)
While high unemployment and rising energy prices remain a concern, U.S. consumer credit default rates fell in February, according to the most recent S&P/Experian Consumer Credit Default Indices. This improvement has been a general trend since early 2010, as the indices fell from last year’s levels. In this podcast, Standard & Poor's Senior Director Erkan Erturk discusses what's behind the drop in defaults.
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While high unemployment and rising energy prices remain a concern, U.S. consumer credit default rates fell in February, according to the most recent S&P/Experian Consumer Credit Default Indices. This improvement has been a general trend since early 2010, as the indices fell from last year’s levels. In this podcast, Standard & Poor's Senior Director Erkan Erturk discusses what's behind the drop in defaults.
Listen
WSJ: U.N. Clears Way for Attack on Libya
EUROPE NEWS|MARCH 18, 2011
U.N. Clears Way for Attack on Libya
U.S., Europe Ready to Launch Air Strikes Against Gadhafi Forces; Rebels' Worsening Plight Jolts White House to Act
By JAY SOLOMON, ADAM ENTOUS And JOE LAURIA
The United Nations Security Council authorized military force Thursday against Libyan leader Col. Moammar Gadhafi's security forces, opening the way for European and U.S. airstrikes within days.
U.N. Clears Way for Attack on Libya
U.S., Europe Ready to Launch Air Strikes Against Gadhafi Forces; Rebels' Worsening Plight Jolts White House to Act
By JAY SOLOMON, ADAM ENTOUS And JOE LAURIA
The United Nations Security Council authorized military force Thursday against Libyan leader Col. Moammar Gadhafi's security forces, opening the way for European and U.S. airstrikes within days.
Thursday, March 17, 2011
Inflation risk can hurt portfolio that plays it too safe
Inflation risk can hurt portfolio that plays it too safe
By Matt Krantz, USA TODAY
Q: Can being too safe with your investments, by putting a large chunk in savings, be in fact risky if there’s inflation?
A: Being too safe can be a sure way to lose money.
By Matt Krantz, USA TODAY
Q: Can being too safe with your investments, by putting a large chunk in savings, be in fact risky if there’s inflation?
A: Being too safe can be a sure way to lose money.
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