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Lloyds hires financial institutions DCM head
Bank continues high yield build-up with two senior hires
Spain and France auctions fuel credit rally
Equity tranches rally amid trading flurry
Go long Europe/short US in index or options, says trading desk
Paper maker's bonds surge higher on surprise profits forecast
Update: Bank loses high-yield trading head
Bank hires trader for Sydney credit push
Henderson adds experienced credit analyst
Credit spotlight - Mixed outlook for insurers
CVC Cordatus - Choosing wisely
Credit hedge funds deliver the goods
Wolseley - What the UK’s regulatory shuffle means for credit
Fishknife - Making rules for an imaginary world
Cell C signs €240 million credit agreement with Chinese bank
Traders play the basis in credit indices
First Data loan change rings alarm bells for bond holders
UK banks make credit push across the Atlantic
Manager lifts gates on long-short credit fund
CDPC fights back in dispute on cash holdings

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Creditflux Newsletter

September 2010

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Top Story

Basis traders pile into bank sub debt as bonds lag default swaps

Credit basis traders have honed in on bank subordinated capital in recent weeks, as lower-tier-two financials continued to underperform in the cash markets amid concern over sovereign and refinancing risk. Basis traders, who arbitrage CDS and matching bonds, are taking advantage of an outperformance of CDS spreads against corporate and financial…