Is the bond-market rout really over?
Some analysts are saying the recent bond-market rout has just about run its course. Bank of America says Treasurys are reasonably valued in light of expectations for inflation and rising interest rates. Bloomberg
Commentary: Revival of single-name CDS could be beneficial
An attempt to revive the single-name credit default swap comes as low liquidity hampers the corporate bond market. Bloomberg's Tracy Alloway delves into the history of single-name CDS and analyzes ways they might benefit the current market landscape. Ultimately, Alloway settles on how one should feel about the return of single-name CDS: "Cautiously optimistic?" Bloomberg
Vanishing collateral threatens solvency of Greek banks
Collateral at the Bank of Greece used by lenders for emergency liquidity is being tapped out. That could make banks insolvent, economists say. "Pressures on central government cash flow, pressures on the banking system, and the political timetable are all converging on late May-early June," according to a client note by JPMorgan Chase analysts Malcolm Barr and David Mackie. Bloomberg
Chinese bank loan data reflect growing worries
Banks in China made new loans worth 707.9 billion yuan in April and money supply rose 10.1% from a year earlier, both well below expectations. Lenders appear to be taking heed of their growing burden of bad loans, broad indications of a cooling economy and lower corporate earnings despite repeated rate cuts and other measures by the central bank. The Business Times (Singapore)/Reuters
IACPM Annual Spring Conference -- Walk-in Registrations Are Welcome!
The Conference takes place on Thursday and Friday, May 21-22 in London at the InterContinental London Park Lane Hotel located at One Hamilton Place, London W1J 7QY. Walk-in registrations are welcomed provided you arrive with a credit card. Registration opens at 8:00 a.m. Conference fees are US$2,460 for member firms and regulators; $2,960 for non-member firms (who are eligible for membership in the IACPM).
The IACPM will offer its Educational Seminar on Wednesday, May 20th, at the InterContinental with registration opening at 8:00 a.m. in Leaden Hall on the Second Floor. Fees for all attendees: US$985.
The agenda for the Spring Conference and Educational Seminar can be viewed at www.iacpm.org. Questions are also being answered by Alison Christensen, firstname.lastname@example.org.
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