The CDS Trader

The road to hell is paved with positive carry.

[The CDS Trader @thecdstrader]

@sdav1986 I'll get over it.

[The CDS Trader @thecdstrader]

@DanielSLoeb1 Hard enough to get my credit derivative strategies to hedge my bond book..

[The CDS Trader @thecdstrader]

@JoePompliano Hope he bought some CDS on the Dodgers. That's some significant unsecured risk.

[The CDS Trader @thecdstrader]

@NickatFP Yes, especially before we sell bank capital to investors.

[The CDS Trader @thecdstrader]

@its_GOP We're all taken sorry

[The CDS Trader @thecdstrader]

@JamesMarsh79 @boazweinstein It's what all the cool kids do.

[The CDS Trader @thecdstrader]

@jimcramer 40 points upfront + 500 running, I got u covered.

[The CDS Trader @thecdstrader]

Reminiscing of the good old days when Swiss bank AT1 was 30 times over-subscribed at new issue.

[The CDS Trader @thecdstrader]

The new Julius Baer AT1 today (4.75% Perpetual non-call 7y) was 30x over-subscribed, a $9bn book for a $300mm issue. Is this a record?

[The CDS Trader @thecdstrader]

@GregoireFavet @jeuasommenulle Because CDS traders have social lives.

[The CDS Trader @thecdstrader]

@Cokedupoptions @The_MMW

[The CDS Trader @thecdstrader]

@JohnRalfe1 @AlasdairMSmith @DominicLindley I may have to take this back..

[The CDS Trader @thecdstrader]

I'd like to nominate this as the greatest trade of all time:

In 2000-01, Boots moved its entire pension fund from equities to long-term £ bonds.

In 20yrs, gilts have gone from 4.5% to 0.5%, whilst FTSE is up <10%.

No trading, auto reinvestment => tiny management charges.

[The CDS Trader @thecdstrader]

I see the tourists have arrived to comment on CDS spreads.

[The CDS Trader @thecdstrader]

@LairdElmski A classic

https://t.co/ImRbR7t8b6

[The CDS Trader @thecdstrader]

10cc!

🎶Do the Wall Street shuffle
Hear the money rustle
Watch the greenbacks tumble
Feel the Sterling crumble🎶

🎶You need a yen to make a mark
If you want to make money
You need the luck to make a buck
If you want to be Getty, Rothschild
You've gotta be cool on Wall Street🎶

[The CDS Trader @thecdstrader]

The cashtag $XOVER has only been used 3 times ever on Twitter (and 2 of those by @subfincredit!), I think we should adopt it for everyone's favourite index.

[The CDS Trader @thecdstrader]

@jeuasommenulle @PaulGoat Perhaps a decent art collection and wine cellar too.

[The CDS Trader @thecdstrader]

@IvanTheK Bank defaults have been permanently cancelled, no need to worry about the bottom of the capital stack any more.

[The CDS Trader @thecdstrader]

@jeuasommenulle @BondHack @tasosvos You've done it, the perfect bank capital thread.

[The CDS Trader @thecdstrader]

Just one of many examples of the CDS market changing after an "unforeseeable" event!!

[The CDS Trader @thecdstrader]

Always seems to take a crisis to improve the market.

CDS effective date used to be T+3 working days...until Railtrack, which was put into administration on a weekend (2001), so trades done the previous Wed-Fri were ineffectual.

It was after that, CDS moved to T+1 calendar days.

[Vlad Tenev @vladtenev]

It’s time for T+2 to go. (1/9)

[The CDS Trader @thecdstrader]

Where's GameStop CDS anyway? $GME