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Euro credit should outperform, says SocGen, as central banks ramp up
7 years ago
Central bank bond buying programmes matter much more to credit markets than pronouncement by Fed officials, says Societe Generale -
Buy credit payers to take advantage of September volatility, says BAML
7 years ago
Primary credit markets and volatility both usually increase in September: investors can take advantage by buying September payers on iTraxx main -
Dealers fall silent as banks get to grips with communication rules
7 years ago
Dealers in Europe have spent the past month scrambling to implement new rules regarding how they pass on trade ideas to their clients -
Credit index play offers Brexit protection, says Societe Generale
8 years ago
Buying Crossover protection while selling Main protects against both Brexit and peripheral weakness -
Switch into off-the-run IG bonds for a spread pick-up, says Barclays
8 years ago
The illiquidity premium is back in US investment grade bonds, argues new Barclays research -
Don’t put your big short on auto ABS, warns Citi
8 years ago
There has been explosive growth lately in hedge funds looking to short auto ABS, according to a note put out by Citi yesterday -
Sabre tops list of CDS-hedgeable loans, says Barclays
8 years ago
The recent loan market sell-off has created growing opportunities to put on positions in loans hedged with unsecured credit default swap protection, says Barclays -
Go up the curve in European IG, says BAML
8 years ago
European high grade credit investors should consider swapping their medium-term holdings for long-dated debt -
Barclays picks J Crew, Teck and Fortescue as best of the stressed
8 years ago
A spike in the number of credits that are trading at stressed prices has created opportunities, says Barclays -
Barclays suggests DirecTV convergence trade with AT&T bonds
8 years ago
Barclays pinpoints DirecTV bonds as a good way to get exposure to AT&T with a spread pick-up -
Sell high yield straddles, suggests Citi, as implied vol stays wide
8 years ago
Volatility implied by North American credit options is high relative to spreads, according to research published by Citi last week -
Buy Chaparral, says Barclays
9 years ago
Bonds from energy companies Key Energy, Enquest and Chaparral Energy are the most undervalued in the US high yield market, analysis by Barclays suggest -
Citi touts long-short credit trade in index tranches
9 years ago
Citi says it is a good time to go long mezz tranches of the North American investment grade index and hedge unexpected single name moves by buying protection on the high yield index -
Switch from euros to dollars for an IG pick-up, suggests Barclays
9 years ago
Investors can pick up 89 basis points by switching from euro-dominated bonds issued by Glencore into dollar securities from the same borrower, notes Barclays -
European CDS underperform bonds as US CDS tightens
9 years ago
European investment grade credit default swaps have underperformed bonds in recent sessions, while US investment grade CDS have outperformed, leading to a widening of the 'basis spread' between the two markets to the most in a year. -
The corporate bond secondary market is broken, says BlackRock
9 years ago
Asset management giant calls bond standardisation to slash the number of outstanding bond issues and increase liquidity -
Seven-year Main is the best credit long, says Citi
9 years ago
Investors looking for long positions in credit should sell seven-year protection on the Markit iTraxx Europe index, says Citi -
Oversupply could hit spreads of yankee bank bonds, says SocGen
9 years ago
Societe Generale's US credit research report suggests switching into US bank debt out of that of European rivals -
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.
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