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The largest ever mortgage-backed securitization worth up to £6.2 billion ($11.2 billion) has been performed by Halifax, the UK mortgage provider. Oversubscribed despite the absence of traditional IR presentations to investors, the issuance was delivered through sterling, euro and the US dollar and constituted 19 different note classes.

A ground-breaking collateralized debt obligation offering a fixed level of recoveries targets investors who want a simpler structure.

The first investor poll to determine the best liquidity providers by asset class in Europe’s credit markets shows JPMorgan sweeping the board.

Asia's domestic wealth managers have to reassess their business models if they want to compete for the significant growth forecast for the market over the next three years.

With volume in the EMEA equity capital markets up 132% this quarter compared with the first quarter of 2003, according to Dealogic, European equity capital markets appear to be in rude health. The IPO market in particular, which raised $7 billion through 39 deals, is at its strongest since the fourth quarter of 2001.

Americans have been having a lot of fun with fundrace.org, a new website that searches the public record for political donations. Euromoney, of course, was most interested in gifts from US bank CEOs. George W Bush came out well on top, garnering the maximum $2,000 donation from almost every CEO on the list. But there were surprises among the Democrats. Dick Gephardt pulled in more donations than any other candidate and Howard Dean got none at all.

US treasury bond yields caught out many investors in the first quarter, tightening sharply below 4% in February and once more wrong-footing many who had been expecting that they would widen.

If you think loan trading is colourless and unexciting, take a look at Thomas Duetoft, head of European loan trading at Dresdner Kleinwort Wasserstein, and his colleague Tom Johannessen, vice-president of loan trading.

Last month, at Hong Kong's biggest party, the annual Rugby Sevens festival, an unusual trend emerged among Hong Kong's investment banks. The softer side of those hard-nosed masters of the universe was on display, manifested in the décor of their hospitality suites.

Several fund managers are taking advantage of the increased interest in currency markets by setting up high-margin currency hedge funds. But before they invest in such products, investors should examine the offerings closely. Julie Dalla-Costa reports.

Having suffered significant losses when the technology bubble burst, Scandinavia's high-net-worth individuals have become more demanding about products and services they expect from their banks. And with the number of wealthy predicted to rise, banks are being spurred to tailor their offerings to suit these clients. Helen Avery reports.

Money will, of course, remain cheap. Indeed, the forward market now forecasts that the Federal Reserve will not raise interest rates this year. But it has been cheap for a long time. It has already driven massive amounts into equities and reduced volatility to historical lows. In early January, the options put-to-call ratio reached levels indicating that no-one wanted to take out any insurance against equity markets falling. However, the recent turn in these indicators suggests that a wall of worry is now being built.