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Credit Derivatives Credit Default Swaps


  • Credit Rating Cut for CME Group Wednesday, 8 Feb 2012 | 1:26 PM ET
    Chicago Mercantile Exchange (CME) traders

    The fall of MF Global has claimed another victim — this time it’s the credit rating of CME Group.

  • france_flag_200.jpg

    The French bank Credit Agricole is planning on major changes to the way it operates in order to avoid new capital requirements being imposed by global financial regulators.

  • Europe Is Stuck on Life Support Wednesday, 1 Feb 2012 | 2:14 AM ET
    Mario Draghi

    Economic decision-makers are more optimistic than two months ago. The main reason is the belief that the European Central Bank, under the shrewd leadership of Mario Draghi, has eliminated the risk of a financial implosion in the euro zone. As Mark Carney, the respected governor of the Bank of Canada and  Draghi’s successor at the Financial Stability Board, remarked at the World Economic Forum in Davos: “There is not going to be a Lehman-style event in Europe. That matters." The Financial Times reports.

  • Bill Gross

    The European Central Bank won't solve the euro zone's debt crisis as long as the European Union behaves like a "dysfunctional" family, Bill Gross, Pimco founder and co-chief investment officer, told CNBC on Tuesday.

  • Guest Blog: Here's How to Save the Euro Tuesday, 31 Jan 2012 | 4:40 AM ET

    The first mistake was to try to arrange a voluntary haircut in the first place, when the Greek government should simply have defaulted.

  • European economic commissioner Olli Rehn at the World Economic Forum.

    A deal with private investors to swap Greece's debt to a more manageable burden is close to being concluded and the next three days are crucial, Olli Rehn, the European Union's monetary affairs commissioner, said during a debate hosted by CNBC in Davos.

  • US Debt Reduction Has a Long Way to Go Friday, 20 Jan 2012 | 2:12 AM ET
    Credit Cards

    A couple of years ago, the words “American consumer” cast a shadow over global markets. No wonder. Back in the days of the credit bubble, American consumer borrowing helped to create a crazy debt binge, the Financial Times reports.

  • Hendry's 'China Short' Fund Makes Big Returns Monday, 12 Dec 2011 | 9:08 PM ET
    New multistory apartments are build across the street from older single floor homes in western Gansu province, China.

    Shorting the credit of companies positioned to do badly from a Chinese slowdown has proved to be one of the hedge fund industry’s most successful trades of 2011. The Financial Times report.

  • Markets Focus on Europe, but China May Be Bigger Worry Thursday, 1 Dec 2011 | 1:58 PM ET
    Great Wall of China

    China's move this week to keep its economy afloat isn't getting the big headlines that Europe got, but it may be more significant for the world economy.  Here's why.

  • How Europe Plans to Expand Reach of Bailout Fund Tuesday, 29 Nov 2011 | 12:11 PM ET
    Euro bills and coins

    European finance ministers are expected to approve today a plan to leverage—or increase the firepower of—the EU rescue fund, known as the European Financial Stability Facility (EFSF).

  • Jefferies Winning Battle Against Critics Tuesday, 22 Nov 2011 | 12:46 PM ET

    Jefferies finally seems to be winning the battle against its critics—and the shorts.

  • Greek Bond Losses Put Role of CDS in Doubt Friday, 18 Nov 2011 | 12:47 AM ET

    Earlier this year, Deutsche Bank quietly decided to reduce its exposure to Italian government bonds. But it did not do that by simply selling debt; instead it achieved this partly by buying protection against sovereign default with credit derivatives contracts. The FT reports.

  • Hedge Funds Are Buying Italian Bonds Monday, 14 Nov 2011 | 9:47 AM ET
    Statue and Italian Flag in front of Vittorio Emanuele monument.

    Some of the hedge funds that made the biggest and most sophisticated bets against European sovereign debt began reversing those trades last week.

  • A Derivatives Fight Over MF Global Tuesday, 8 Nov 2011 | 2:47 PM ET
    MF Global

    Over the weekend, Gretchen Morgenson of the New York Times penned a column explaining what it was that doomed MF Global.

  • Loss of Confidence in CDS Means Trouble: Economist Monday, 7 Nov 2011 | 2:33 AM ET

    The agreement on the size of the haircut on Greek debt banks will take could have serious consequences for all the so-called PIIGS according to Carl Weinberg, the chief economist at High Frequency Economics.

  • Investors See Safety in Treasurys Tuesday, 1 Nov 2011 | 3:58 PM ET

    Dismay over widening fissures in the European bailout plan sent investors fleeing stocks and into the relative safety of U.S. Treasurys Tuesday.

  • Greece

    Fitch ratings agency says Greece's credit grade will remain low even after its debt load is cut as part of a European plan to fight the financial crisis.

  • Erste Bank Sharply Cuts CDS Portfolio; To Close It Friday, 28 Oct 2011 | 5:19 AM ET

    Austrian bank Erste announced on Friday that it had drastically reduced its credit default swaps (CDS) portfolio and that it would close it by the end of the year, after valuing it based on what it would be worth in the market - known as marking to market - earlier in the month.

  • Gulf Bank's CEO Looking East for Growth Thursday, 27 Oct 2011 | 4:17 AM ET
    Abu Dhbai

    The European debt crisis is worrisome but it is unlikely to pose a danger to major banks on the continent, Michael H. Tomalin, CEO of the National Bank of Abu Dhabi, told CNBC.

  • What Happens If Europe Crushes the Swap Market? Wednesday, 26 Oct 2011 | 12:23 PM ET

    If European leaders succeed in putting in place a fifty-percent haircut on Greek sovereign debt without triggering credit default swap payments, they may end up destroying the CDS market altogether.