ISDA 2014 CDS Credit Definitions On September 22, 2014, ISDA’s 2014 CDS Credit Definitions will become effective. This will be the first set of changes to the Credit Definitions since 2003, so it’s a pretty big deal. The key changes relate to Restructuring & Successor events. Four key terms: Bank & Sovereign Subordinated or...
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JPM's London CIO thought CDS would be a great investment for the secondary portfolio. But the people tasked with calculating correlation were overworked an unfocused. Burned by too much leverage, and wider markets as they try to exit (slippage)....
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Burning Down the House My house is out of the ordinary, that's right Don't want to hurt nobody Some things sure can sweep me off my feet Burning down the house! – Talking Heads As much as I love Jamie Dimon, I can’t help but hear this song as the...
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