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It's time for bullish reversal on IG credit to play decompression: JP Morgan
1 year ago
Having been bearish most of the year JP Morgan has changed its view on investment grade credit to neutral, saying value has become too cheap to ignore -
Euro credit woes vs US set to resume with cyclicals shock likely: JP Morgan
1 year ago
Further decoupling lies ahead between euro and dollar credit, despite the recent positioning squeeze, warn JP Morgan credit strategists -
Position cutting tames market rally and strategists warn on primary impact
1 year ago
Caution is the watchword across financial markets on Tuesday, with the strong recent run giving way to hedging and position cutting ahead of a much-anticipated US inflation reading on Wednesday -
Credit lacks 'good answer' on what could cap spread widening: JP Morgan
1 year ago
Without any clear candidates to put a lid on spread widening, investment grade and high yield credit markets look set to extend much wider than current levels, warn JP Morgan strategists -
Blackstone lands big name as bank's synthetic structured credit talisman joins buyside
2 years ago
Blackstone has hired a well known figure from the synthetic structured credit market, with a prominent name in CSOs joining the firm after 18 years working on the sell-side -
Europe leads relief rally with energy and peripheral bank credits outperforming
2 years ago
Credit spreads are making a broad move tighter on Tuesday, with European Central Bank president Christine Lagarde having tried to rein back rate hike expectations and oil company BP posting strong profits -
Brace yourselves for increasing ESG basis in credit
2 years ago
One of the safest bets in credit for 2022 is that ESG focus will intensify, with market participants anticipating a surge of green bond issuance as well as widening spread dispersion between climate leaders and underperformers -
Credit bull run falters as central bank glow abates
2 years ago
Thoughts that the credit market had taken a positive directional shift are turning, after Tuesday’s session has brought a sizeable retracement wider, but credit strategists predict an overall firming of tone into the end of the year off the back of dovish central bank meetings -
Rising star portfolio has room to run, says JP Morgan
2 years ago
The theme of 'rising stars' still has room to run and investors should consider a basket of candidates to benefit in the coming months, according to JP Morgan credit strategists -
Coronavirus delta dilemma puts reflation trades into reverse
2 years ago
Concern over the covid-19 delta variant dented investor optimism in July and looks set to hold back credit spread improvement in August, as focus turns to rising cases in the US and Germany -
China contagion fears linger as Huarong rebounds
3 years ago
China Huarong Asset Manager, the state-owned bad debt manager, is back on a path to improvement after shocking markets by delaying its annual report. But questions remain over the extent of government support and the ripple effects to the wider credit market -
Corp hybrid popularity mounts, but strategist outlooks diverge
3 years ago
Corporate hybrid bonds are becoming a focal point for investors in the second quarter, with one bank's credit strategy team making them a top pick to trade spread compression while another's has expressed caution on their likely performance -
TRS goes electronic on Tradeweb with iBoxx trade
3 years ago
Tradeweb Markets has completed what it says is the first ever fully standardised total return swap trade based on IHS Markit’s iBoxx US Dollar Liquid High Grade index -
LCH starts clearing US credit index options
3 years ago
LCH, the central clearing house of the London Stock Exchange Group, has expanded its CDSClear service to clear US credit index options -
Time to trade falling dispersion and high yield compression, says JP Morgan
3 years ago
Investors should position for falling dispersion by trading on-the-run versus off-the-run iTraxx Europe index series, say JP Morgan strategists. And Crossover / Main compression trades look attractive as high yield underperformance has gone too far -
The tranche market shines, whatever your view on credit
3 years ago
Index tranche volumes have reached record levels this year and CSOs have withstood the covid crisis. Panellists at the Credit Dimensions webinar outlined a range of trades in a thriving market -
Former JP Morgan credit correlation head launches $200 million fund
3 years ago
The former head of credit correlation trading at JP Morgan has launched a global credit fund management business with $200 million of assets, according to market sources -
Ohio pension injects $175 million into credit via JP Morgan and HPS
4 years ago
The School Employees Retirement System of Ohio has made a $175 million commitment to two strategies; high yield and direct lending -
Hedge against coronavirus, says JP Morgan, naming 40 most exposed credits
4 years ago
With novel coronavirus cases rising at what looks to be an exponential rate, JP Morgan strategists have proposed a high yield hedge to address the rising threat to European credit spreads and listed 40 borrowers they think are most exposed to impact -
Oil supply concerns grease CDS relative value trade
4 years ago
With credit spreads having begun 2020 circling post-crisis tight prints, there is not much room across the market for improvement and plenty of susceptibility to jitters. But at least one CDS index shows scope to narrow further and could form part of a relative value trade -
JP Morgan's head of European high yield trading leaves for $32 billion asset manager
4 years ago
JP Morgan's head of European high yield trading has left the firm and landed at global credit manager with a large CLO business -
Reality bites after credit traders abandon Brexit hedges
4 years ago
Rediscovered faith in the ability of the UK and European Union to reach an agreement before the 31 October Brexit deadline has helped fuel a surge tighter of credit spreads, led by UK financial names. But that break with caution faces an immediate reality check today, following admissions a lot more work is needed -
Go long CLO triple-A and pick cash bonds over CDS, says JP Morgan
4 years ago
Going long European CLO triple A paper remains one of JP Morgan strategists’ favourite trades following the European Central Bank stimulus announcement last week, despite these tranches having rallied 14bp on average since the bank first backed them. They also predict cash credit to outperform CDS -
Buy iTraxx Europe equity tranche risk but sell Crossover mezz, says JP Morgan
4 years ago
Investors should stick with ‘search for yield’ ideas in investment grade credit, say JP Morgan credit strategists, including selling iTraxx Europe 0-3% equity tranches delta hedged, going long the 10-year Europe index, and selling credit volatility through index options while buying equity market volatility -
Tabula launches ETF to capture iTraxx Crossover and CDX HY volatility premia
5 years ago
Tabula Investment Management, a European fixed income exchange traded fund (ETF) provider, has launched a product aimed at capturing the volatility premium embedded in index options on iTraxx Crossover and its US counterpart CDX HY
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