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Bond Wizards Find Exotic Ways to Profit From Negative Yields

It’s the bond market equivalent of alchemy: converting negative interest rates into a bonanza of yield via the magic of derivatives. In a $15 trillion world of sub-zero debt, investment banks are creating exotic solutions for investors looking to bet on everything from ever-lower rates to the bullish credit cycle. Powered by swaps and options,…

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Wall Street’s FANG Notes for Mom and Pop Buckle on Tech Pain

Retail investors who have ridden the boom in technology companies via exotic bonds are facing a reality check. With banks selling $2 billion of structured products linked to one or more of the now-struggling FANG members this year alone, investors are getting schooled on the risks lurking in complex debt securities — even those laden…

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A lookback at 2016

If you look at Brexit, everyone was expecting a massive volatility spike, but what happened was very short-term. A lot of structured products have longer maturities and actually volatility decreased in the long end of the curve. It was the same thing with the U.S. election. With Trump’s election, people expected the market to go…

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Peering ahead to 2017

We expect very large volumes for structured products for the first quarter in 2017 in Europe. Most European markets are quite bullish. It’s very likely that we see a switch from euro- to USD-denominated notes. Arthur Teixeira Read Bloomberg’s brief here.

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First Quarter Had Some Bright Patches

For many sellers of structured notes in the first quarter, it was one to forget, with global sales tumbling from a year earlier. But pockets of the market still saw growth, particularly in regions where volatility kicked up or interest rates remained depressed. Global sales in the first quarter got off to their worst start…

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French Boutique Aims at Tier One Banks with New Lifecycle Management Tools

HPC Investment Partners is targeting tier one banks to help them “respond quicker and more efficiently to the needs of investors”, after launching a new set of lifecycle tools in its click-and-trade platform at the end of 2017. SRP spoke to Pierre-Yves Breton, founding partner and Jordan Sfez, managing partner at the French structured products…

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