Credit Event News
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Canadian Finance Minister Jim Flaherty shouldn’t interfere with mortgage pricing set by the country’s lenders, Bank of Nova Scotia Chief Executive Officer Richard Waugh said.
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South Korea probably will put off plans to sell its first dollar bonds in four years after North Korea’s war threats drove borrowing costs to a six-month high, say Mizuho Financial Group Inc. and Western Asset Management Co.
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Banks are boosting sales of structured notes based on derivative bets similar to those that cost JPMorgan Chase & Co. more than $6 billion in the so-called London Whale loss.
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Chinese corporate bond yields the lowest in four months above the government’s, prompting the local unit of Franklin Templeton Investment to avoid the debt.
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The euro traded at almost the lowest in four months versus the dollar as officials in Cyprus worked to produce a plan to secure financial aid and avoid the collapse of its banking system.
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Iceland, a country with a $13 billion economy, had six dollar billionaires before the financial crisis struck in 2008. Now it has none.
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Moody’s Investor Services said China’s local-government financing vehicles face greater risk of default, as regulators warn 20 percent of their loans are risky.
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The nationalization of SNS Reaal NV constitutes a restructuring credit event that will trigger payouts on derivatives insuring the debt, according to the International Swaps & Derivatives Association.
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European Central Bank President Jean-Claude Trichet talks about the decision to raise the benchmark rate by 25 basis points to 1.5 percent and to ease Portugal’s access to emergency funds.
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Standard Chartered Plc is leading a revival in sales of structured notes tied to the debt of China’s largest companies as investors seek access to assets underpinned by growth in the world’s second-biggest economy.
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