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Credit Suisse rallies hard as rest of market suffers
1 year ago
After a tough week for Credit Suisse, the bank’s credit spreads have ended Friday’s session on a notably better tone than most others in the European market -
Picard and Cleveland-Cliffs underscore high yield single name sensitivity
3 years ago
Picard entered a relief rally on Friday after postponing a triple-tranche bond deal backing a refinancing and shareholder dividend -
French foodco CDS jumps on bond offering
3 years ago
Picard, the French frozen foods company, is a big underperformer in credit markets on Monday, as it limbered up to bring a triple-tranche bond deal -
It's all relative: CLOs march tighter as macro traders open positive CDS skews
3 years ago
Credit default swaps are back near where they started the year after giving up their early-February gains amid a rise in government bonds. CDS curves steepened over the past month and macro hedging has left indices trading with positive skews. But CLOs paint a calmer picture in which spreads have inched tighter -
Curve steepeners gain ground with inflation in focus
3 years ago
Credit performance this week has done little for market-directional trading strategies, but one area gaining traction beneath headline numbers is the steepening of curves -
It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
3 years ago
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018 -
It's all relative: senior CLO tranches tighten 18% in Europe as CDS indices sit out rally
The corporate credit rally in January is notable because some assets tightened to levels not seen in over a decade (loans), others rallied albeit with a lag (CLOs) and the most liquid stream of credit (CDS indices) defied moves in other asset classes to widen
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Credit touches November levels as nerves fray on France and Fed
3 years ago
Fears of a third national lockdown in France and the risk of disappointment from Wednesday's US Federal Reserve meeting have pushed credit wider along with a sell off in stocks -
Fallen angels and financials feel heat as CDS indices roll
3 years ago
CDS indices are rolling into new contracts today, with outgoing series of iTraxx Europe and Crossover widening sharply from the market’s open on technical as well as fundamental factors -
Investcorp targets most liquid loans for new European credit fund
3 years ago
Investcorp Credit Management is targeting “the largest and most liquid European issues” after raising €318 million for a levered credit fund that invests in European loans -
JC Penney bankruptcy weighs on CLO and CDX HY baskets
3 years ago
CLO managers hold nearly $250 million of the debt of JC Penney, which filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas on Friday -
Jump-to-default risk collapses after Senate backs biggest ever US relief package
4 years ago
The US Senate's agreement of a record $2 trillion stimulus package is shaking jump-to-default risk from high yield corporate credit today, with some iTraxx Crossover constituents shedding over 1,000bp from the front end of their CDS curves -
Credit traders' kickstand: ECB rocket boosts Europe's outperformance of US
4 years ago
Investment grade credit index iTraxx Europe has reopened a 5bp differential with US counterpart CDX IG, boosted by the European Central Bank’s stimulus plan -
LendingClub's asset management arm auctions five funds amid rebrand
6 years ago
Peer-to-peer lending company LendingClub has rebranded its asset management business, LC Advisors – and shut down five of its funds -
Credit market snapshot: isn’t it better when we all just get along?
9 years ago
Indices tighten as Greek finance minister strikes conciliatory tone with Europe -
Credit market snapshot: spreads tighten again as primary hits record
9 years ago
Yesterday saw spreads on credit indices hit new two-month lows as equities rose across the globe and oil prices fell again -
Credit market snapshot: spreads change direction with modest widening
9 years ago
Yesterday saw a reversal of the recent rampant tightening in credit market -
Credit market snapshot: spreads fall to lowest level this month
9 years ago
A third consecutive day of tightening saw credit spreads move back to levels not seen for the past two weeks -
Credit market snapshot: indices push wider but begin day better
9 years ago
Major credit indices continue to inch wider but progress in Ukraine helps sentiment -
Credit market snapshot: credit spreads give up gains immediately
9 years ago
Credit spreads move out to erase Wednesday's gains following Ukraine plane crash -
Credit market snapshot: credit keeps pace with government bonds
9 years ago
Cash credit yields keep pace with falling government bond yields while CDS stays steady -
Credit market snapshot: spreads continue to tighten ahead of ECB action
9 years ago
European credit continues to grind tighter as market expects action from the central bank -
Credit market snapshot: emerging markets pressure continues
10 years ago
Credit markets drift wider as a US proposal to back loans in Ukraine has little effect -
Credit market snapshot: spreads make small moves on low volumes
10 years ago
Europe outperforms the US on day of minimal trading and movement -
Credit market snapshot: US investment grade posts strong returns
10 years ago
On a flat day across the market US investment grade credit posts strong performance
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