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"Dispersion should manifest in potential fallen angel credits that are likely to proliferate"
1 year ago
IG and crossover names present a compelling alternative to shorting HY credit -
China property rescue plan keeps credit on front foot
1 year ago
China’s policy shift on covid rules and measures to prop up its ailing property market have brought a buoyant start to the week, despite financial markets having already rallied sharply last week -
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 -
Strong rally takes indices back below key levels
1 year ago
A big rally has greeted the start of the new week, in large part fuelled by easing recession concerns following Friday's encouraging US jobs number - but seeminly ignoring signs of further deterioration in the outlook for peripheral Europe -
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 -
Market jitters mount as US delivers May CPI
1 year ago
Credit spreads have moved sharply wider for the fourth day straight as investors digested the European Central Bank’s hawkish turn and watched with trepidation for the US to reveal its May consumer price index numbers -
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 -
US retailers hit hard as inflation and dollar spark big sell-off
1 year ago
Inflation worries and a strengthening US dollar have once again upended the credit market’s fragile confidence, taking spreads on a violent lurch wider with the US underperforming Europe -
Stalling growth engines leave market in deeper turmoil
2 years 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 -
Investors look to US response after Putin lights touch paper on Ukraine intervention
2 years ago
Credit investors are left facing a what-happens-next moment after Vladimir Putin recognised the Donetsk and Luhansk regions of Ukraine as independent states, paving the way for Russian forces to intervene. In response the US has moved swiftly to impose new sanctions targeting the two regions -
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 -
Italian banks widen sharply as risk-on drive falters
3 years ago
Italian banks are among Wednesday's underperformers as single name credits play catch up with a shift wider in indices, amid signs the recent bull run is petering out -
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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It's all relative: Euro CLO mezz rallies to follow month-long IG/HY compression
3 years ago
European credit suffered this week with Brexit talks between the UK and the EU dragging on and both sides conceding that a trade deal is unlikely to be reached by Sunday’s deadline. But European CLO tranches have held up reasonably well with mezzanine spreads tightening by almost 13% in December -
Single name shorters get improved entry point after conviction test
3 years ago
Returning market optimism has taken credit spreads back to ultra-tight levels. But for bears, this posits a better entry level for short trades, and the recent blow-out may have given strong pointers where to target them -
Oaktree mixes defensive with opportunistic in new fund for recent hire
3 years ago
Oaktree Capital Management has launched a standalone absolute return fixed income fund for recent hire Brad Boyd, according to market sources -
Good Thursday for credit, as Europe gains gusto from US resurrection
4 years ago
The Easter revival has come early for credit, with three straight days of global improvement and iTraxx Crossover today rallying again into the long weekend at its tightest print for a month
17 results found Showing page 1 of 1
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