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Weak opening for markets as BoE makes new intervention and Asia sell-off extends
1 year ago
In the absence of the US market on Monday for the country’s Columbus Day holiday, global markets have extended their bearish direction following US jobs numbers on Friday that point to further hawkishness in the outlook for rate hikes -
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 -
US jobs strength sends traders scrambling to cut Fed pivot trades
1 year ago
Credit spreads are ending the week on a sharp move wider, with a heavy sell off hitting financial markets in the wake of US jobs numbers that suggest any notions of a Fed pivot on rates are premature -
One-year CSOs come to fore as investors predict widening
1 year ago
With credit spreads entering the fourth quarter at much the same elevated levels they began Q3, investors are increasingly looking to bespoke tranches as a way of taking advantage while mitigating the market’s tail risks. -
Euro credit rallies in disconnect from US, Asia and equities
1 year ago
Credit spreads are heading tighter in Europe on Thursday, despite weakness in other markets, as this week’s volatile oscillation brings another change of direction -
Dispersion picks up as candidates for distress emerge
1 year ago
Dispersion will be a concern for all parts of the global credit market in the fourth quarter, say traders who are focused on relative value -
"Kwasi Kwarteng’s ‘mini budget’ will be remembered like a forklift truck disaster video"
1 year ago
Welshcake sees the funny side as bunga bunga returns -
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 -
Credit Suisse blow out puts financials in spotlight
1 year ago
Credit spreads have pushed wider on Monday, with underperformance in investment grade, as sharp oil price moves accompanied intensified focus on the banking sector amid a slew of worrying commentary on Credit Suisse -
"Ugly" eurozone inflation numbers cap off torrid week for credit
1 year ago
Credit spreads are heading tighter into the weekend, as investors rebalance positions against a backdrop of easing currency pressures but a challenging array of European inflation numbers and a highly charged Brazilian election month about to kick off -
Investors nurse wounds after UK scuppers credit expectations
1 year ago
Financial markets are picking up the pieces on Thursday following an extremely volatile session ignited in large part by UK economic mishap, which sparked fears of a financial crisis and necessitated the central bank’s intervention -
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 -
UK and Italy in focus as credit rout extends
1 year ago
UK and Italy sovereign credit spreads are heading wider on Wednesday, as the market-wide sell-off takes indices to new extremes for the year -
Ukraine auction looks set to avoid Russia-style bond squeeze
1 year ago
An auction to settle sovereign CDS contracts referencing Ukraine looks set to produce a final price much more in line with bond trading levels than the result earlier this month for Russian Federation contracts -
So long! US high yield index jumps tighter with roll from old to new series
1 year ago
Credit spreads have retraced tighter on Tuesday, after two days of heavy selling pressure, as investors in US high yield index CDX HY get set for its roll into a new series -
European credit returns to peak covid levels with UK getting pounded
1 year ago
What looks set to be another challenging week for financial markets has opened as bearishly as last week ended, with credit spreads in Asia and Europe once again surging to new wides -
Surge in hedging sends credit spreads to year's wides
1 year ago
A busy and bearish week is ending with credit spreads surging beyond their previous widest levels of the year, with Italian elections this weekend adding to caution in Europe after a string of central bank policy decisions reshaped the global economic outlook and the UK government scrambled to address rising energy costs -
Bruises start to swell, despite BoE pulling its punch
1 year ago
Market mood is growing uglier as the week progresses, with global investors increasingly looking for safety as the impact of central bank interventions combines with escalating fear over Russia’s campaign against Ukraine -
Powell moves set to surpass power moves as credit spreads head wider
1 year ago
Hedging has been a prominent feature of financial markets ahead of Wednesday’s hotly anticipated US Federal Reserve statements, but Russia’s move to escalate its war efforts in Ukraine has injected another layer of uncertainty -
Big push wider for credit index spreads as traders navigate challenging roll
1 year ago
The roll of CDX and iTraxx credit indices is proceeding, with traders scrambling to respond to a big shift in relative dynamics between the US and Europe following London's long weekend -
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 -
Spreads trace worryingly familiar arc as investors take good news as bad and bad new worse
1 year ago
Credit spreads are pushing ever closer towards the year’s peak levels, continuing Wednesday a sell off that began on Tuesday, with positive US economic data perversely sparking a bearish shift in financial assets that negative European data has since compounded -
Russia and Ukraine debt recovery outlooks diverge as DC publishes auction lists
1 year ago
The credit event auction to settle Russian sovereign CDS will have eight bonds deliverable, while 15 bonds have made it onto a preliminary list for Ukraine’s auction -
Down in the hole: investors hedge their bets ahead of pivotal Powell
1 year ago
Credit spreads are shifting wider on Friday, after an initial improvement, as investors try to balance positions ahead of what could be a pivotal speech by US Federal Reserve chairman Jerome Powell
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