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Black Swan

About Black Swan

Opinion dedicated to risk management. Our columnist Black Swan offers up informative insight into derivatives, credit, FX, interest rates, hedging strategies, collateral management, counterparty and contractual risk.

May 13, 2013 19:19 Monday | by Black Swan

Final nail in the Libor coffin

With more allegations of market manipulation, the concept of a collaborative interbank lending benchmark has all but died. Read full article

Comments

Apr 2, 2013 16:22 Tuesday | by Black Swan

Bashing the banker on bonuses

Curbing bankers pay may have a dampening effect on risk taking, but the real issue is what the bonus incentives are attached to Read full article

Comments

Jan 21, 2013 21:44 Monday | by Black Swan

Asia's treasurers need to trumpet their needs

Treasury associations are baring their teeth as financial regulations threaten to hurt their interests, but Asia lacks a unified voice. Read full article

Comments

Dec 18, 2012 03:33 Tuesday | by Black Swan

Zee Germans are coming!

New European proposals to introduce mandatory margining for forward FX trades will eliminate a risk that does not actually exist. Read full article

Comments

Nov 26, 2012 22:33 Monday | by Black Swan

Fighting securitisation with securitisation?

As a result of Basel III Banks are trying to offload their exposure to trade finance via securitisations, but they are struggling to get anywhere. Read full article

Comments

Oct 8, 2012 19:50 Monday | by Black Swan

Threat of compulsion is good for Libor

The Wheatley report on Libor leaves questions unanswered but its thrust is very positive for treasurers and CFOs. Read full article

Comments

Sep 27, 2012 14:07 Thursday | by Black Swan

Asia is right to stand together on extraterritoriality

Standing against the CFTC’s Gary Gensler on derivatives is justified. Ceding to his aims will only damage the ability to hedge risk. Read full article

Comments

Jul 10, 2012 09:28 Tuesday | by Black Swan

Saving Libor: Place your head above the parapet

The motivations behind Libor manipulation were not just about making money. Read full article

Comments

May 22, 2012 09:39 Tuesday | by Black Swan

Why JP Morgan must be open about trading loss

JP Morgan's lack of transparency is not helping itself or the derivatives industry. Read full article

Comments

Apr 18, 2012 14:12 Wednesday | by Black Swan

Gambler’s fallacy

Banks’ oblique attitude to risk transfer is damaging to the over-the-counter industry Read full article

Comments

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Markets

Hedging

Ref Rates

Comms

Econ Data

Currency	Bid	Ask	% Daily Chg
EUR /USD	1.2881	1.2882	-0.01%
GBP /USD	1.5228	1.523	-0.17%
USD/CAD	1.0259	1.0264	+0.19%
AUD /USD	0.9803	0.9808	-0.03%
USD/CNY	6.1314	6.132	-0.12%
USD/JPY	102.69	102.71	+0.42%

More Currencies

	6 Months		1 Year
Forwards	Bid	Ask	Bid	Ask
AUD/USD	-125.68	-125.07	-240.78	-239.39
USD/CAD	43.27	44.77	85.75	88.25
USD/CHF	-20.8	-20.2	-48.79	-46.04
EUR/USD	17.32	17.62	39.98	40.98
USD/JPY	-12.05	-11.85	-33.08	-32.68

More Forward Rates /
Interest Rate Swaps

Interbank	1 mth	3 mths	6 mths	12 mths
EURIBOR (365)	0.114	0.202	0.298	0.484
HIBOR	0.20714	0.37786	0.53857	0.84786
TIBOR *	0.25	0.33333	0.46333	0.75333
KLIBOR	3.1	3.21	3.25	3.35
PHIBOR	-	-	-	-
SIBOR *	0.2025	0.275	0.4225	0.6925

* IN USD

More Reference Rates

Commodities	Bid	Ask	% Daily Chg
Gold	1385.9	1386.81	-0.51%
Silver	22.57	22.62	-1.53%
Platinum	1465.5	1475.5	-1.48%
Palladium	742.47	748.02	-0.61%

More Commodities

Date	Indicator	Actual	Period
21 May	DE PPI mm	-0.2%	Apr
21 May	DE PPI yy	0.1%	Apr
21 May	GB CPI mm	%	Apr
21 May	GB CPI yy	%	Apr
21 May	GB RPI mm	%	Apr
21 May	GB RPI yy	%	Apr

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Country profile

With more allegations of market manipulation, the concept of a collaborative interbank lending benchmark has all but died. Read full article

Curbing bankers pay may have a dampening effect on risk taking, but the real issue is what the bonus incentives are attached to Read full article

Treasury associations are baring their teeth as financial regulations threaten to hurt their interests, but Asia lacks a unified voice. Read full article

New European proposals to introduce mandatory margining for forward FX trades will eliminate a risk that does not actually exist. Read full article

As a result of Basel III Banks are trying to offload their exposure to trade finance via securitisations, but they are struggling to get anywhere. Read full article

The Wheatley report on Libor leaves questions unanswered but its thrust is very positive for treasurers and CFOs. Read full article

Standing against the CFTC’s Gary Gensler on derivatives is justified. Ceding to his aims will only damage the ability to hedge risk. Read full article

The motivations behind Libor manipulation were not just about making money. Read full article

JP Morgan's lack of transparency is not helping itself or the derivatives industry. Read full article

Banks’ oblique attitude to risk transfer is damaging to the over-the-counter industry Read full article

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