Interest rates - Fixed returns? Banks have reported huge profits this year in fixed income, with swaps desks benefiting from flows off the back of sovereign and corporate debt issuance. Exotic desks, in contrast, have seen a substantial decline in investor interest.

Inflation derivatives house of the year - Barclays Capital

Madigan, Peter, (2010)

Municipals - Misery for municipals - A year on from the collapse of the auction rate securities market, short-term variable-rate financing in the US remains scarce. In 2009, municipal issuers face surging costs and low interest rates most can't access.

Madigan, Peter, (2009)

Securitisation - The big clean-up - The US Treasury's Public-Private Investment Program aims to cleanse balance sheets of toxic assets and revive financial markets. But questions remain over who will participate, how assets will be priced and how big a dent the scheme will actually make on the amount of legacy securities still out there.

Madigan, Peter, (2009)