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There were no surprise events… CDS did exactly what it said on the tin
10 months ago
Good tabloid headlines rely on the obverse of normal expectations and, over the years, Credit Suisse has furnished a deep seam. Banks are meant to be risk-averse, and of unimpeachable character and integrity. -
“Pension fund managers should look to take advantage of a rare opportunity in corporate CDS”
1 year ago
The October sell-off in gilts highlights a glaring lack of exposure to CDS -
"Kwasi Kwarteng’s ‘mini budget’ will be remembered like a forklift truck disaster video"
1 year ago
Welshcake sees the funny side as bunga bunga returns -
"Short memories forget how rampant anti-EU sentiment was before Mario Draghi became Italy’s prime minister"
1 year ago
Unrest in Italy threatens to escalate into a bigger crisis than Greece in 2012 -
"If anything is to be salvaged from the rest of 2022, the economy needs a hero — and quickly"
1 year ago
Something has gotta give as a recession looms in the US. Might it be energy? -
"Faltering oil supply is lamentable at a time of strategic and moral shortfall"
2 years ago
We need to accept the pain and cut dependence on Russian oil today -
"Pivot points in curves may not stay where they have been historically"
2 years ago
CTAs and CSOs are changing the way credit curves move -
"Credit investors should interpret 100,000 Russian troops on the Ukrainian border as worth pricing in"
2 years ago
Welshcake tells credit portfolio managers to under-promise and over-deliver in 2022 -
"No-one talks about the part oil price surges played in the 2008/9 global financial crisis"
2 years ago
Investors eyeing inflation shocks and supply chain disruption should instead be paying attention to the brewing energy crisis -
"Pain is on the way: spreads are too tight, while compression and carry are done. But what if it's not?"
2 years ago
Welshcake reminds us that mid-cycle portfolio management is a funny old game -
"In the afternoon I awoke from a pile of willow leaves to discover we had created a Welsh ether-based token"
2 years ago
A localised crypto-currency boom and bust cycle teaches Welshcake (again) that everything becomes correlated in a downturn -
CLO guys shouldn't feel quite as self-important as us Welsh... But you are in a pretty amazing spot
3 years ago
CLO portfolio managers should be emboldened by recent events to push for ESG strategies -
It is unfair to extrapolate from one lemon on the lot that the whole fleet of cars is defective
3 years ago
As a barometer of Europcar credit risk before the credit event the CDS contract did a credible job -
I'm a nosy neighbour... get CSO deals public and embrace the age of information
3 years ago
A year of staying under the radar has not helped the CSO market -
Speculative protection buying censures managements that seek only to enhance their own wealth
3 years ago
The Catholic church misses the mark when referring to CDS as ‘finance of chance’ -
I foresee various spooky spectacles hitting our screens - and your long portfolios
3 years ago
Welshcake is settling in for a horror movie marathon. But in the previews he sees monsters lurking behind tight credit spreads -
2020 is a massive opportunity for change - and clinging to past achievements won't wash
3 years ago
Statues don’t serve much of a purpose. It’s time to move on — and credit investors can and should be part of the movement -
It may seem a bit rich for Welshcake to tell staid CLO investors they need to be more sensible
4 years ago
Bespokes are the next big thing — and you’d be wise to get involved -
What price lender integrity if myriad interpretations mean nobody knows where they stand?
4 years ago
Net short language is seeping into loan documentation. The problem is that some funds may not know their net position -
The resolution of narrowly tailored credit events is a leap forward for the CDS market
4 years ago
Isda is replacing the mechanistic determination of a failure-to-pay credit event with a more subjective rule -
So lacking in transparency are CDS that they cloak themselves with standardised docs and definitions
5 years ago
A glance through mainstream media reports confirms that credit default swaps are as sinful as the media thinks they are, says our columnist Welshcake
21 results found Showing page 1 of 1
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