Trade Notes: Is it Worth the Trouble Investing in GB Debt?

I first looked into Grameen Bank (GB) almost 3 years ago.  A Deutsche Bank research report in 2007 got us interested in potential MFI (Micro Finance Institution) loan portfolio investments. Continue reading “Trade Notes: Is it Worth the Trouble Investing in GB Debt?”

Page 19901 and the Weird and Wonderful World of Swap Pricing

The FT had a great story today about an obscure corner of international Finance:  how the official “market” price of dollar swaps are posted on Reuters screens (relayed by ICAP on Bloomberg) on page 19901 where prices:

are used as a reference when banks settle options on swaps and underwrite corporate bonds …They are also used to decide what rate of interest will be paid to investors holding structured instruments and for valuing asset portfolios. 19901 is also treated as a benchmark in official derivatives documents created by the International Swaps and Derivatives Association, an industry body.  Until 2002 the page was organised by Telerate, a data group, which posted prices using information supplied by Tullett Prebon, an interdealer broker. When Telerate went bust, Reuters acquired the service and Icap, the world’s largest interdealer broker, supplied swap prices. Continue reading “Page 19901 and the Weird and Wonderful World of Swap Pricing”