Blog

Our thoughts on news that matters.

Who is having a bond crisis?

The crisis in bond trading has been well forecast. Many have noted the steep drop in dealer inventories and the dramatic expansion in corporate issuance over the last 5 years. There must be a problem coming for investors. This past week Morgan Stanley missed estimates in large part because of lower bond trading revenue. So […]

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Lending Club Joins IPO Club

Clocking in at an $8+ Bn market cap, Lending Club is the latest IPO in the fintech space, and one that takes aim at the core functions of banking with person-to-person, or crowd-sourced, lending. Shares rallied 70% in early trading. Should this deal itself have been crowd-sourced, too?? Here at DealVector we were astonished by […]

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Small is Beautiful

The Economist has an article describing how small financial firms are flourishing; fragmentation is now reversing the decades-long consolidation trend on Wall Street. In M&A, for example, advisory fees for boutique firms have grown from about 8% of the total pot in 2000 to nearly 30% today. Such firms, where they are publicly listed, trade […]

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RMBS Reform: Can’t Test our Way to Trust

We may be working on the wrong issues. And when you’re in a hole—stop digging! Those were two thoughts I took from SFIG’s very well-designed conference on Reforming Private Label RMBS last week. Three moments stood out in particular: Treasury’s Michael Stegman announcing that the government has decided it is not appropriate to create an […]

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Fed Taketh; BOJ/ECB Giveth

As the Fed winds down its QE activity, the BOJ and ECB step up their interventions. The ECB purchase program for ABS is particularly supportive of structured credit markets. But the BOJ surprise shock and awe program will also inevitably transmit support to less liquid assets. Here at DealVector, our contacts indicate that any bonds […]

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Manning in NYC

This week Mike is in NYC, so if you are curious about the BWIC Board, legal notifications, InvestorLinks, or our other feature sets that are on the way, let us know and we can arrange a meeting. Mike is delivering our Google Glass giveaway to the winner (Eugene Xu), so if you catch Mike in […]

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ABS EAST Google Glass Giveaway

DealVector is all about improving visibility and surveillance, so we are pleased that our Google Glass Giveaway is such a hit here at ABS EAST 2014. The energy is high. The market feels as vibrant as it ever has. Congratulations to IMN on their 20th anniversary of this excellent event.    

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Dodd-Frank reprieve for CLOs

On Friday a bill was added to the House proposal schedule that could loosen the Dodd-Frank rules with respect to CLO ownership. The fact that equity holders have the right to vote to remove CLO managers has until now been a consideration that brings CLO ownership under Dodd Frank restrictions. Now, the right to remove […]

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Justice League Wall Street

Bankers seem to be emerging finally from the shadow of 2008, putting litigation behind them and, hopefully, moving forward to a better future. This week BoA settled for $16.65 billion with the DOJ with respect to cases involving fraud against federal and state authorities. It was announced Friday that Goldman would pay $3.15 billion for […]

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We have over $2 trillion of deals loaded on the platform already. And the industry has noticed.