Refine Search
Article Categories
Strategy Tags
- Direct lending (1)
- Emerging markets (17)
- High yield bonds (94)
- Investment grade credit (60)
- Structured credit (2)
- CLO (7)
- Distressed debt (44)
- Leveraged loans (3)
- Synthetic/SRT (104)
Geography Tags
-
Casino failure to secure requisite default waivers, non-payment of social security charges and taxes prompt questions on CDS triggers
9 months ago
Casino Group announcements that it failed to obtain the requisite consent from its bondholders and RCF lenders to effect a payment standstill and to waive any defaults for the duration of its conciliation proceedings and that it deferred payment of its tax and social security liabilities have led market participants to submit credit event requests to the Credit Derivatives Determination Committees (DC). -
UK nerves rattle Europe/US relative value trades, as Hunt seeks to reassure investors
1 year ago
A palpable mood of trepidation on Thursday around the UK’s autumn budget has brought widening of credit spreads, with European indices giving back gains they have made in recent sessions versus their US counterparts -
Credit euphoria follows CPI, but analysts warn of comedown
1 year ago
Softer than expected US inflation numbers have ignited a spectacular rally in financial markets. But strategists and economists warn against the exuberance, arguing more pain is likely on the way -
U-turns abound as markets pivot sharply on government and central bank rethinks
1 year ago
A big rally in financial markets on Tuesday has driven credit spreads sharply tighter, with a softening outlook for central bank actions building on relief that the UK government has opted to U-turn on its poorly received high bracket tax cut plan -
Ukraine auction settles CDS below expected recovery
1 year ago
An auction to settle sovereign CDS contracts referencing Ukraine produced a final price slightly below expectations, despite net buying demand for bonds to physically settle contracts -
US-led sell off shifts index roll technicals with key rates decisions looming
1 year ago
Further deterioration in global economic outlook is causing credit spreads to move back to the midpoint or wide end of their recent range, after a week of reversal from the previously more optimistic September trading run -
Euro credit hits new tights against US after months of underperformance
1 year ago
The gap between European and US credit has closed, with indices trading at their tightest relationship for several months, after US economic data introduced a fresh bout of volatility -
Chinese real estate hit for six as Powerlong triggers credit event
1 year ago
Powerlong Real Estate Holdings has triggered a credit event, the Credit Derivatives Determinations Committee has ruled – taking the stack of Chinese housing sector contract defaults to six since December -
Telcos show strength amid worrisome start to week
1 year ago
Telecommunication companies have had a good start to the week in credit markets, despite caution around latest Chinese economic numbers and reports of droughts in Europe adding to that continent’s energy concerns -
ECB acts on inflation but gas and other worries grow worse
1 year ago
If European Central Bank officials breathed a sigh of relief when their first hike in 11 years did not immediately rattle markets — or even dared believe a more hawkish signal helped confidence — the reprieve was short-lived -
Powerlong joins rising pile of Chinese real estate casualties
1 year ago
Powerlong Real Estate Holdings is the subject of a failure-to-pay credit even question – a potential trigger that would build the pile of Chinese real estate debt defaults the Determinations Committee has considered since December to six, with five this year -
Market rides out China-US fray with oil, rates and jobs back in focus
1 year ago
US and European credit markets are exhibiting a firmer tone on Wednesday, with investor focus having shifted from Taiwan concerns to Opec+ oil supply. But a looming Bank of England rate hike and US jobs data mean caution remains the watchword -
Italian rally extends as Europe opens week on stronger tone than US
1 year ago
Improvement in Italian spreads is helping the European market maintain its better tone at the start of the week, but after July’s rally many investors will be wary at entering a month that has often been negative for credit performance -
Fed gives boost to markets, but warm glow may wane fast
1 year ago
Financial markets are carrying over the rally they began on Wednesday, after the US Federal Reserve appeared to signal it could ease its foot off the pedal with future rate hikes -
Russia and retail put stop to credit rally with big spread reversal
1 year ago
Russia’s move to cut gas supplies once again to Europe, as well as a Walmart profit warning in the US, are weighing heavily on markets Tuesday and sending credit spreads sharply wider -
Italian rout gathers pace as credit relationships warp well beyond historical norms
1 year ago
Renewed selling pressure on Thursday has taken credit spreads back towards the year’s wides, with financial borrowers underperforming as Chinese covid cases, US inflation and a drought in Italy all weigh on sentiment -
Mixed signals abound but European weakness persists
1 year ago
European financial markets are losing further ground against the US in a cautious start to the week, as the euro approaches parity with the dollar for the first time and latest data supports the Federal Reserve maintaining a hawkish approach to policy -
Skew opens up as indices pivot following broad sell off
1 year ago
The opening of the US session on Thursday has brought a firmer tone, after European and Asian markets extended their weak run. But the reversal in index direction has left single name credits still sitting at much wider spreads -
Asia sets pace for Europe as rally extends in US absence
1 year ago
Credit market investors have resumed their optimistic stance on Monday, buoyed by a weaker US dollar and China reopening its economy after lengthy covid-19 restrictions -
Fund outflows extend despite sharp improvement in credit performance
1 year ago
This has been a much better week for credit and equity market performance than last, but that has not stopped the tide of investors looking to withdraw their money from funds for such risk assets -
Bespoke bond baskets on the rise as investors seek targeted portfolio trades
1 year ago
High yield index replication and accessing illiquid exposure are two factors building momentum for a new investment approach that bundles bonds into a single risk piece -
Property giant takes a tumble as European fortunes diverge
1 year ago
Adler Group, the German real estate giant, is once again coming under intense pressure in the credit market amid reports the country’s financial watchdog has begun a criminal investigation into its dealings -
Bond / CDS basis in play as heavy market rout extends
1 year ago
The rout of financial markets has resumed at pace on Thursday, with sizeable moves that add to relative value disparities between cash and synthetic credit -
CLO managers in the mix for first US credit event auction since 2020
1 year ago
CDS contracts referencing Talen Energy Supply will be settled by credit event auction next month. And Talen's recovery levels will have relevance for a number of CLO managers that have held onto the company's debt - in some cases having bought more very recently -
Stalling growth engines leave market in deeper turmoil
1 year ago
Financial markets are starting the week in another heavy slump, with credit hitting new wides as various asset classes take a beating from economic growth fears and the prospect of a recession in Europe
Want all the latest news, comment, analysis and data?