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Buy a straddle instead of going long CDX, says Morgan Stanley
9 years ago
Research expects minimal upside from credit indices in the near term and suggests using options -
Citi proposes algo trading strategy for high yield credit and equity
9 years ago
Citi researchers come up with a novel way to trade credit and equity indices against each other -
This high yield correction has further to run, predicts Morgan Stanley
9 years ago
Morgan Stanley argues that the high yield market is experiencing what it calls a bull market correction -
Celanese profits jump and refi talk are positive for its bonds, says Citi
9 years ago
Stronger than expected results from chemicals maker Celanese on Friday, along with management comments about potential debt refinancing, could increase the chances of the company making investment grade -
Fiat offers record negative basis opportunity, says BNP Paribas
9 years ago
The cost of shorter-dated default protection on Italian car maker Fiat has fallen significantly below the price of the company's bonds, offering a negative basis trading opportunity -
SocGen backs coco 'death spiral' trade
9 years ago
Investors should consider buying put options on the equties of banks issuing alternative tier 1 bonds (AT1), a play that could lead to a so-called 'death spiral'. -
JP Morgan recommends trading equity options against credit payers
9 years ago
Credit is trading in line with equity-implied levels for the first time in at least 18 months, leading to opportunities in options, says JP Morgan. -
Tui CDS holders could end up with more than they bargained for
9 years ago
Research suggests buying CDS on TUI as the deliverables will increase, not decrease -
SocGen's mean reversion model says buy protection on Senior Fin
9 years ago
Investors should consider buying protection on Markit iTraxx Europe Senior Financials index because the current index level is significantly over-valued on a mean reversion basis -
Switch into credit default swap sin US high yield, suggests Barclays
9 years ago
Barclays research highlights cash bond to CDS switches in the US high yield market. -
Get paid to be short through loan-CDS trades, suggests Barclays
9 years ago
Sabre, Rite Aid and iStar Financial top the list of credits where being long loans and short through credit default swaps generates a positive carry -
Go short weapons makers, suggest Barclays
10 years ago
Barclays points out that spreads on defence companies Raytheon and General Dynamic are close to their five-year tights, and suggests buying protection on them -
Go long United Utilities credit and short Eon, suggests BNP Paribas
10 years ago
Research from BNP Paribas suggests CDS trade as LBO premium is overhyped for UK water company -
US credit is cheap versus Europe, says Credit Suisse
10 years ago
Investment grade euro-denominated corporate bonds are now expensive on a relative value basis, says Credit Suisse. -
Banks offer widest positive basis plays, notes Credit Suisse
10 years ago
A large positive basis on Deustche Bank and Santander present a short-term basis opportunity, according to analysts at Credit Suisse. -
Discount IG bonds may tempt hedge funds back, says Morgan Stanley
10 years ago
A creature rarely spotted in the past years of spread-tightening reappears: the sub-par investment grade corporate bond -
RWE looks good for BNP despite underperforming CDS
10 years ago
BNP Paribas research suggests underperforming CDS of RWE is temporary and suggests going long against more cyclical names -
Ditch Spain for triple-B core non-financials says Credit Suisse
10 years ago
Credit Suisse research points to outperformance of core non-financial European notes and weakness in Spain. -
Lagging iTraxx S9 9-12% offers value, BNP Paribas says
10 years ago
Recent underperformance in investment grade mezz tranches offers a relative value opportunity says BNP Paribas -
Tranches offer relative value as European correlation soars
10 years ago
European correlation levels have remained stubbornly high compared to US counterparts -
Cash cash credit offers value as CDS correlation rises, says JP Morgan
10 years ago
Relative value investors should focus their attentions on cash bond markets rather than CDS, JP Morgan analysis suggests -
Steep Spanish bank curves suggest flattener, Credit Suisse says
10 years ago
Spanish bank two-five years curves are at the steepest level since 2009, making a curve flattening trade increasingly attractive, according to strategists at Credit Suisse. -
European triple B-rated credit still offers value, says Credit Suisse
10 years ago
Triple B-rated European credit is still a good buy for managers looking to beat their benchmarks, Credit Suisse says -
Put on European high yield flatteners, suggests Morgan Stanley
10 years ago
European high yield credit curves are too steep, says Morgan Stanley -
Go short “lo-vol”, says BofA Merrill
11 years ago
High quality investment grade credits will be the worst performers in Europe this year, says Bank of America Merrill Lynch
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