Credit Analysis: BHP Billiton & PotashCorp
A detailed credit analysis on two companies (BHP Billiton and Potash Corporation of Saskatchewan) currently involved in hostile takeover talks from the credit derivative perspective. Some highlights:...
View ArticleCredit Analysis: US & European Banks ahead of Basel 3
Here is a broad credit analysis on 5 large American and 5 large European commercial banks (Banco Santander, Bank of America, Barclays, Citigroup, Credit Agricole, Deutsche Bank, HSBC, JP Morgan Chase,...
View ArticleCredit Analysis: H&R Block
A detailed credit analysis on tax prep firm H&R Block. Some highlights… H&R Block CDS has more than doubled over the summer while its peer BBB-rated Financials have more or less remained...
View ArticleCredit Analysis: Nasdaq 100 Holdings
A credit analysis on constituents of the Nasdaq 100. Some highlights… Fiserv CDS trades at a 25 bps premium to its sector & rating peers. On the other end, Oracle trades at a 37 bps discount to its...
View ArticleCredit Analysis: PIGS Banks (Part 1)
A credit analysis on several European/PIGS Banks and their respective sovereign. Some highlights: Inverted CDS curves in a number of PIGS (european) banks like Anglo Irish, AIB, Caixa General, BES as...
View ArticleCredit Analysis: PIGS Banks (Part 2)
A credit analysis on several European/PIGS Banks and their respective sovereign. Continued from Part 1. Some highlights: Sovereign CDS spreads are generally tighter than the banks’ with some notable...
View ArticleAnalysis: What happened to Pershing Square’s BP swaps
An analysis of Pershing Square’s BP CDS trade and BP’s latest financials. Pershing Square’s latest third quarter investment letter covered a number of past, present and future investments – with one...
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Millions made on Dixons Retail CDS in less than a week
See the pdf version of the report here……or continue reading below…… Credit market obervers last week would have noticed that Dixons Retail CDS was a very volatile name having soared past 1000 bps...
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