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Guggenheim Seeks Long-Short Equity, Event Funds

Bloomberg Brief — Thu, 23 May 2013 18:10:51 +0000

Guggenheim Investment Advisory, the $70 billion unit of Guggenheim Partners LLC, is searching for long-short equity and event-driven managers for allocations. Long-short equity is Guggenheim Investment Advisory’s “top risk-adjusted strategy pick for 2013” in an environment of decreasing correlations, according to Charles Stucke, chief investment officer of Guggenheim Investment Advisors and senior managing director of Guggenheim Partners, the New York- and Chicago-based financial-services firm.

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Bernanke Testimony Indicates No Premature End to QE

Bloomberg Brief — Thu, 23 May 2013 18:04:38 +0000

Fed Chairman Ben S. Bernanke indicated he has little appetite for a premature slowing of the central bank’s asset purchase program because of persistent weakness in the U.S. labor market and a general lack of confidence in the self-sustaining nature of the recovery.

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Orr: Debt Among First Detroit Overhauls

Bloomberg Brief — Thu, 23 May 2013 18:01:36 +0000

Detroit’s bond payments are “crushing” the city by hindering spending on public safety and are among the first liabilities that need to be addressed, emergency financial manager Kevyn Orr said.

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Investors Buy Credit-Linked Notes Tied to Malawi, Bahamas

rbedard2 — Thu, 16 May 2013 19:08:12 +0000

Our page 1 this week: Investors on the hunt for yield are buying notes tied to the debt of governments including Malawi, Croatia and the Bahamas. Inside: Australian issuers may be facing more regulatory scrutiny, and Hans-Georg Vetter talks about Zuercher Kantonalbank’s “total expense ratio” for structured products and why the company decided to disclose it, even though it isn’t required to.

Cantor Fitzgerald Hires 4 to Boost CLO Business

jcrombie8 — Thu, 16 May 2013 15:48:04 +0000

Cantor Fitzgerald is expanding its CLO and structured finance team with four hires in New York
and London as issuance soars. Florian Bita joins in New York . . .

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ResCap Probe of Ally May Alter Creditor Talks

Bloomberg Brief — Mon, 13 May 2013 17:57:12 +0000

An investigative report on Ally Financial Inc.’s relationship with its bankrupt mortgage arm, Residential Capital LLC, may affect settlement talks between the companies and creditors who blame Ally for $25 billion in potential claims.

The court-ordered report, due today, will examine allegations that Ally exerted so much influence over ResCap that the auto lender can be forced to pay its unit’s unsecured debts.

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Amgen Data on T-Vec to Be Published This Week

Bloomberg Brief — Mon, 13 May 2013 17:53:38 +0000

Data for Amgen’s talimogene laherparepvec (T-VEC) in advanced melanoma is among many abstracts that will be published ahead of the American Society of Clinical Oncology (ASCO) annual meeting. Abstracts will be available on May 15 at 6 p.m. ET.

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SEC Money-Fund Rule Target Said to Be Narrowed

mkarsh — Fri, 10 May 2013 18:06:40 +0000

U.S. securities regulators have narrowed the target of new rules for money-market funds, according to a person familiar with the matter, limiting changes to a smaller set of funds than many executives anticipated.

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Electronic Note Services Face Regulatory Hurdles in U.S.

rbedard2 — Thu, 09 May 2013 18:28:48 +0000

Here’s page 1 of the Structured Notes newsletter this week: Electronic platforms for selling notes that have been popular in Europe are having more trouble catching on in the U.S., because of different regulations. Inside: We take a look at a new species of note, South Korea’s “king crab” securities, and a Swiss bank starts disclosing profit margins on structured products, getting out in front of expected regulations.

Bloomberg Brief Bankruptcy Index

Bloomberg Brief — Wed, 08 May 2013 12:45:34 +0000

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