GFMI

Most everyone who has grown up with Walt Disney classic films will recall the valiant Prince on his noble steed slashing his way through the Forest of Thorns to reach Maleficent’s castle and rescue Sleeping Beauty. While the transition from Libor to SOFR (or more generally from IBORs to Risk Free Rates or RFRs) is […]

It seems that every now and then credit derivatives arise as the public whipping boy among financial products. Most recently, the case of Windstream has been publicized as another example of evil credit derivatives in an article, “What Hedge Funds Consider a Win Is a Disaster for Everyone Else,” by William D. Cohan in the […]

In an age where the short-hand language of Twitter and texts rules, why is formal credit writing still relevant for structured loans and leases? After all, when I have questioned analysts after reading an analysis that lacked depth, nearly every one could answer my questions and then some. They clearly understood their credits. So why […]

The first six months of 2015 saw the emergence of the “Reverse Yankee” bond market. What exactly is a Reverse Yankee, and what makes it of interest? Simply put, a Reverse Yankee is a bond issued by a US company, usually high grade, outside of the US and denominated in a currency other than US […]

As soon as Michael Lewis’s new book Flash Boys hit the Kindles, the debate over high-frequency trading (HFT) – and especially the “maker-taker” pricing prevalent for some time in the high-frequency trading world – hit a new high. So what are they all talking about? Those of you who have attended one of GFMI’s Introduction […]