Updates
A reverse convertible pays an above-market coupon because the investor has sold the issuer downside protection. The size of the coupon is the size of the risk.
A buffer and a barrier can be printed with the same headline number and the same reassuring word, and behave in opposite ways when the market falls.
Equity-linked notes are the core of the US structured note market. Let's look at what ELNs are, three choices that define them, and why single stocks are surging.
Most multi-index structured notes are worst-of: they pay on the weakest index alone. Adding names adds risk, and dispersion decides how much it costs the holder.
Most classified structured notes generate phantom income: taxable income owed before any cash is received. The tax classification is what tells you which ones.
Most reference data on US structured notes captures the headline of the term sheet and stops. SQX's new feed covers 350,000+ notes at full term-sheet depth.
This guide looks at how muni bond insurance works, who's writing it, what it does to spreads, and how to treat insured muni bonds in a pricing or portfolio workflow.
Two muni bonds with the same rating/maturity/coupon can trade at different yields. Let's look at the difference between general obligation bonds and revenue bonds.
As winter turned to spring, the SQX team was hard at work. Read on to find out what we’ve been up to.
Two of the deepest, most actively-quoted option markets in the world are foreign exchange options and interest rate swaptions. Let's dig into them.
