Dec 16- A former bond trader was sentenced to 2-1/ 2 years in prison Tuesday after admitting to manipulating prices of mortgage debt, causing a $9 million loss at a unit of Bank of New York Mellon Corp.. Prosecutors said Green entered fake CMO sales into the trading system of BNY Mellon's Pershing LLC clearing unit, which handled Crocker trades and related...» Read More
NEW YORK, Aug 1- The International Swaps and Derivatives Association on Friday declared Argentina in default, which could trigger payments worth up to USD1bn on credit default swaps.
NEW YORK, Aug 1- The International Swaps and Derivatives Association on Friday effectively declared Argentina in default, setting in motion a process that could trigger payments worth up to USD1bn on credit default swaps.
TOKYO, Aug 1- JGBs moved flat to slightly firmer with yields falling a little only in the mid- to 20- year sector, after stock markets slumped in the United States and Europe. The 10- year JGB futures rose 0.06 point to 145.98 while the yield on the cash 10- year bonds stood flat at 0.530 percent. The 20- year yield dipped 0.5 basis point to 1.390 percent.
NEW YORK, July 31- The International Swaps and Derivatives Association has agreed to consider whether a credit event has occurred on Argentina's credit default swap contracts, according to its website.
NEW YORK, July 31- The International Swaps and Derivatives Association has received its first request to consider whether a credit event has occurred on Argentina's credit default swap contracts, according to the ISDA website.
ARGENTINA FIVE-YEAR CREDIT DEFAULT SWAPS WIDEN BY 513 BP TO 1957 BP- TRADERS.
TOKYO, July 30- Japanese government bond prices dipped on Wednesday ahead of key events in the United States, including second-quarter GDP figures and the Federal Reserve's policy meeting. The 10- year JGB futures ticked down 0.01 point to 145.98 while the 10- year cash bond yield rose 0.5 basis point to 0.525 percent.
TOKYO, June 23- Japanese government bond prices were little changed on Monday in thin trading, with the current 10- year cash bonds untraded for several hours. The benchmark 10- year yield rose 0.5 basis point to 0.580 percent while the September JGB futures price dipped 0.05 point to 145.38.
Warren Buffett famously referred to derivatives as "financial weapons of mass destruction," but unless we accept that residential mortgages are too, the phrase glorifies them into something they are not.
Clever finance critters are fleeing from swaps to futures, escaping the new regulatory regime that was a center-piece of Dodd-Frank.
After the unveiling of Libor rate-rigging practices among banks, eyes are turning to other markets, worrying that the manipulation would not be limited to Libor rates, the New York Times reports.
Hundreds of employees at big firms, some part of special teams, will be on standby this Sunday, awaiting the results of Greece’s pivotal election. The New York Times reports.
Conflicting signs are emerging in Washington over whether JPMorgan Chase’s surprise trading loss will spur tighter regulation on Wall Street, The New York Times reports.
JPMorgan’s next move depends on what happens in the credit markets. If investors become fearful about companies’ prospects , JPMorgan’s bet could face even bigger losses, The New York Times reports.
The triggering of insurance payments on Greek sovereign debt should be a "non-issue" for the markets, as they will happen in an orderly fashion, a representative of the International Swaps and Derivatives Association (ISDA) told CNBC on Monday.
The financial system could face a test this week as industry officials debate a provision of the Greek bailout, the New York Times reports.
Interest rate swaps are derivative instruments commonly used by sophisticated investors to allow cash flows on interest-earning securities or loans to be exchanged. CNBC explains.
Bankers believe that an additional disclosure requirement, relating to previously unpublished details of banks’ credit exposures, could trigger approaches for credit portfolios from specialist buyers. The FT reports.
The Securities and Exchange Commission is investigating Merrill Lynch’s sale of a complex mortgage-related security it created for Magnetar, an Illinois hedge fund, and the collateral manager involved in the deal. The FT reports.