Bloomberg | Brief » Structured Notes

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.

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.

SocGen, HSBC Rise in Global Note Sales as UBS Drops

rbedard2 — Thu, 02 May 2013 18:04:39 +0000

Page 1 of this week’s Structured Notes newsletter: There’s been a league table shakeup, as banks such as JPMorgan and Societe Generale have seen growing note sales (excluding the U.S. market), while volume for other issuers has sharply declined. Inside: How structured note holders contributed to the price drop in gold, and what one lawyer thinks could be the extensive impact of a U.S. tax proposal to mark derivatives to market for ordinary investors.

Drop in Gold Puts $1.1 Billion of Notes at Risk

rbedard2 — Fri, 19 Apr 2013 17:57:17 +0000

Page 1 of Structured Notes this week: Gold’s decline of about 14 percent in two days put more than a billion dollars of U.S. structured notes at risk. Inside the full edition: Rabobank makes deep cuts in its equity derivatives team amid tighter regulations, sales of notes in the Brazilian real tied to government debt are surging, and Made Artha talks about the structured note market in Indonesia.

Sales of Notes Tied to the S&P 500 Fall on Volatility

rbedard2 — Fri, 12 Apr 2013 19:53:54 +0000

Our front page this week: Low volatility of the S&P 500 is depressing issuance of notes linked to the benchmark. Inside: Sales of notes that mirror the bets made by the “London Whale” are increasing; uridashi note issuance in Japan is climbing because of early redemptions caused by rising stocks; Thomas Layton of Raymond James talks about why investors like short-dated securities right now.

Fees on U.S. Notes Tied to Stocks Climb to 3-Year High

rbedard2 — Thu, 04 Apr 2013 20:08:46 +0000

What we’ve got on our front page this week: Fees on U.S. structured notes tied to equities are at a three-year high. Inside we’ve got more on fees (a table and a few charts), after doing an analysis of all the fee-paying U.S. notes since January 2010. Also in this issue: China moves closer to letting brokers sell structured products, and Christian Katz talks about why SIX Group’s joint venture for the Scoach exchange fell apart.

Banks Tie More CLNs to Companies Than Governments

rbedard2 — Thu, 21 Mar 2013 20:35:47 +0000

Our page 1 this week: Global sales of credit-linked notes this year are basically flat, but what’s being sold is more often tied to corporates than sovereigns. And inside: The leading structured product sellers according to the latest Greenwich Associates survey, Bill Pang on Toyota’s issuance plans for the future, and sales of U.S. notes tied to the Brazilian real jump as the currency posts a strong year-to-date performance against the dollar.

‘Steepener’ Notes Stage a Comeback in the U.S.

rbedard2 — Thu, 14 Mar 2013 18:40:01 +0000

Take a look at our page 1 this week: U.S. notes that allow investors to profit from a steepening of the yield curve surged in January and February. Also inside this issue: Our exclusive, don’t-miss-it table on electronic platforms — who’s doing what, with lots of details. Plus, a look at the Japanese structured notes that are bending the U.S. long-term swap curve.

Sales Surge of U.S. Structured Notes Tied to Euro Stoxx 50

rbedard2 — Thu, 07 Mar 2013 20:21:17 +0000

Check out the first two pages of the newsletter this week: Euro Stoxx 50 notes were snapped up last month by U.S. investors. Inside the full version: BX Berne scraps a plan to go head to head with Scoach in trading of structured products and Edward Rogers talks about demand for notes in Japan.

Deutsche Bank, UBS Shift Note Issuance to SPVs Ahead of Basel Rules

rbedard2 — Thu, 28 Feb 2013 20:36:47 +0000

Here’s our page 1 for the newsletter this week: Banks trying to meet stricter Basel rules on capital holdings are moving structured note sales off their balance sheets. Also inside the full version: why South Korea is displacing Hong Kong and Singapore as an Asian leader in note sales, and details from an SEC letter to banks on new rules about fair value disclosures.