Why CLO Market Performance Continues To Improve (00:08:45 min)
Performance in the collateralized loan obligation (CLO) market continues to improve, as evidenced by several positive factors. Notably, we upgraded over 30% of our CLO book in the last six to nine months. Of the CLO tranches that we rate -- roughly 4,400 -- only a few are rated 'CC' and below, and more upgrades are possible. For 2011, we expect CLO issuance of roughly $15 billion, and possibly $25 billion if significant improvement is sustained. In this podcast, Director Zachary Wolf provides an overview of CLO market activity thus far this year.
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Tuesday, March 29, 2011
WSJ: S&P Downgrades Portugal, Greece
MARKETS|MARCH 29, 2011, 3:31 P.M. ET
S&P Downgrades Portugal, Greece
By GEOFFREY T. SMITH
LONDON—Rating agency Standard & Poor's on Tuesday delivered a damning verdict of the euro zone's new plans for resolving sovereign debt crises, downgrading two of the euro zone's most troubled member states.
S&P Downgrades Portugal, Greece
By GEOFFREY T. SMITH
LONDON—Rating agency Standard & Poor's on Tuesday delivered a damning verdict of the euro zone's new plans for resolving sovereign debt crises, downgrading two of the euro zone's most troubled member states.
CNN Money: Home prices near a double dip
Home prices near a double dip
By Les Christie, staff writer March 29, 2011: 10:51 AM ET
NEW YORK (CNNMoney) -- January home prices fell for the sixth month in a row, edging closer to a double dip.
By Les Christie, staff writer March 29, 2011: 10:51 AM ET
NEW YORK (CNNMoney) -- January home prices fell for the sixth month in a row, edging closer to a double dip.
Bloomberg: Home Prices, Consumer Confidence in U.S. Probably Fell
Related News: U.S. · Real Estate · Economy · Canada · Municipal Bonds · Currencies
Home Prices, Consumer Confidence in U.S. Probably Fell
By Alex Kowalski - Mar 29, 2011 1:00 PM GMT+0900
Residential real estate prices probably dropped in January by the most in more than a year, raising the risk that home sales will keep slowing, economists said before a report today.
Home Prices, Consumer Confidence in U.S. Probably Fell
By Alex Kowalski - Mar 29, 2011 1:00 PM GMT+0900
Residential real estate prices probably dropped in January by the most in more than a year, raising the risk that home sales will keep slowing, economists said before a report today.
Is Private Equity Getting Pickier on NPLs?
Is Private Equity Getting Pickier on NPLs?
http://www.nationalmortgagenews.com/nmn_features/private-equity-pickier-1024069-1.html
Tuesday, March 29, 2011
By Paul Muolo
Smaller, thinly capitalized investors in nonperforming mortgages could face liquidity concerns in the coming months as private equity investors begin to re-examine their commitment to the business while bolting for higher returns elsewhere.
http://www.nationalmortgagenews.com/nmn_features/private-equity-pickier-1024069-1.html
Tuesday, March 29, 2011
By Paul Muolo
Smaller, thinly capitalized investors in nonperforming mortgages could face liquidity concerns in the coming months as private equity investors begin to re-examine their commitment to the business while bolting for higher returns elsewhere.
Monday, March 28, 2011
Bloomberg: Portuguese Bailout Costs More Than Money Alone: Matthew Lynn
Related News: Economy · Finance · Law · Eastern Europe · Europe · France · India & Pakistan · Latin America · U.K. & Ireland · U.S. · Opinion · Funds · Municipal Bonds · Matthew Lynn
Portuguese Bailout Costs More Than Money Alone: Matthew Lynn
By Matthew Lynn - Mar 29, 2011 8:00 AM GMT+0900
Bloomberg Opinion
Is it 50 billion euros? Or perhaps 70 billion euros? The cost of bailing out Portugal varies according to who makes the calculation. No one will know the real price until officials from the International Monetary Fund and the European Central Bank tell us.
Portuguese Bailout Costs More Than Money Alone: Matthew Lynn
By Matthew Lynn - Mar 29, 2011 8:00 AM GMT+0900
Bloomberg Opinion
Is it 50 billion euros? Or perhaps 70 billion euros? The cost of bailing out Portugal varies according to who makes the calculation. No one will know the real price until officials from the International Monetary Fund and the European Central Bank tell us.
Bloomberg: European Bank Funding Threatened as Basel III Meets Solvency II
Related News: Europe · France · Germany · Italy · U.K. & Ireland
European Bank Funding Threatened as Basel III Meets Solvency II
By Kevin Crowley - Mar 29, 2011 8:01 AM GMT+0900
European banks are being forced to sell more long-term bonds as regulators seek to prevent another financial crisis. European insurers say their own regulator will stop them from buying such debt.
European Bank Funding Threatened as Basel III Meets Solvency II
By Kevin Crowley - Mar 29, 2011 8:01 AM GMT+0900
European banks are being forced to sell more long-term bonds as regulators seek to prevent another financial crisis. European insurers say their own regulator will stop them from buying such debt.
Bloomberg: U.S. Consumer Spending Increases More Than Forecast
Related News: Retail · U.S. · Economy · Currencies
U.S. Consumer Spending Increases More Than Forecast
By Shobhana Chandra - Mar 29, 2011 6:07 AM GMT+0900
Americans increased spending more than forecast in February as incomes climbed, easing concern that rising food and fuel costs might derail the consumer demand that makes up 70 percent of the U.S. economy.
U.S. Consumer Spending Increases More Than Forecast
By Shobhana Chandra - Mar 29, 2011 6:07 AM GMT+0900
Americans increased spending more than forecast in February as incomes climbed, easing concern that rising food and fuel costs might derail the consumer demand that makes up 70 percent of the U.S. economy.
Sunday, March 27, 2011
WSJ: Crises Nudge Debt Loads to Brink
THE OUTLOOK|MARCH 28, 2011
Crises Nudge Debt Loads to Brink
By MARK WHITEHOUSE
The financial strains created by crises in Japan and Europe highlight a growing problem: The rich world is getting close to the point where it won't be able to bear the costs of another disaster.
Crises Nudge Debt Loads to Brink
By MARK WHITEHOUSE
The financial strains created by crises in Japan and Europe highlight a growing problem: The rich world is getting close to the point where it won't be able to bear the costs of another disaster.
Saturday, March 26, 2011
S&P: The CMBS Market Improves In First-Quarter 2011, But Global Instability Could Impede Progress
The CMBS Market Improves In First-Quarter 2011, But Global Instability Could Impede Progress (00:05:53 min)
In first-quarter 2011, the commercial mortgage-backed securities (CMBS) market experienced improving fundamentals, including tighter spreads and fewer delinquencies. Nevertheless, instability in the Middle East and North Africa, and the earthquake in Japan, resulted in increased volatility and higher commodity prices, which could ultimately hamper new CMBS issuance. In this podcast, Standard & Poor's Senior Director James Manzi provides an overview of CMBS market activity for the first quarter and our expectations for the rest of the year.
Listen
In first-quarter 2011, the commercial mortgage-backed securities (CMBS) market experienced improving fundamentals, including tighter spreads and fewer delinquencies. Nevertheless, instability in the Middle East and North Africa, and the earthquake in Japan, resulted in increased volatility and higher commodity prices, which could ultimately hamper new CMBS issuance. In this podcast, Standard & Poor's Senior Director James Manzi provides an overview of CMBS market activity for the first quarter and our expectations for the rest of the year.
Listen
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