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Lebanon CDS auction set to include 15 cent bonds
4 years ago
The cheapest bonds to deliver into a credit event auction to settle Lebanese sovereign CDS could be worth only 15 cents in the dollar, according to a 27-note initial list published by the Determinations Committee -
US credit leads surge tighter on Fed package to close gap with Europe
4 years ago
What was already a much more positive week for credit has ended with a massive jump-start, as the US Federal Reserve unveiled a $2.3 trillion relief package targeting small businesses and municipalities but with additional support for bigger companies, including 'fallen angel' household names -
Europe/US credit gap extends as coronavirus curves part ways
4 years ago
The gap between European and US credit performance is widening as hopes rise in Europe the spread of the coronavirus could be slowing even as its impact extends in the US -
Creditflux unveils newsletter platform
4 years ago
Creditflux is today unveiling an online newsletter platform, which recreates our print magazine in a digital, user-friendly format. -
Financials lag as credit rallies on Chinese manufacturing pick up
4 years ago
Credit market improvement has continued this morning on signs of Chinese economic recovery, after the rally in spreads resumed yesterday afternoon in Europe and throughout most of the US session -
CDX HY and EM trade with fresh legs after defaulted names drop out
4 years ago
New series of US high yield index CDX HY and emerging market index CDX EM begin their first full day of trading today, having replaced outgoing versions on Friday amid a weakening of credit markets due to the spreading impact of the coronavirus outbreak -
Financials and commodity names lead credit widening as oil slumps
4 years ago
Credit markets ended last week going wider and the theme continues today, as the price of oil slumps further amid growing concern about how the impact of the coronavirus outbreak will stifle demand -
Credit traders' kickstand: market whipsaw throws tranche trades and index rolls into focus
4 years ago
Credit's relief rally was unlikely to last long, but hopes of reaching the weekend are dashed on today's sharp reversal, right as CDX HY and CDX EM roll into new series -
Last chance to get Crediflux newsletter delivered to your door
4 years ago
The last few weeks have affected the way everyone goes about their daily routine. To make things slightly easier for our readership, we can send the April Creditflux newsletter to subscribers' home addresses - simply fill out the form -
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 markets rally, but hopes rest on US stimulus vote
4 years ago
Credit spreads are rallying back today, along with other financial markets, as hopes rise the US congress will agree a massive fiscal stimulus package and other governments in major economies echo a "whatever it takes" line to combat the coronavirus outbreak -
Creditflux newsletter delivered to your door
4 years ago
The last few weeks have affected the way everyone goes about their daily routine. To make things slightly easier for our readership, subcribers can receive the April Creditflux newsletter at their home addresses -
Credit market hits new wides as government outbreak measures intensify
4 years ago
Credit market are making another push wider at the start of the week, after governments tightened restrictions on movement to deal with the escalating coronavirus outbreak -
Credit traders' kickstand: rolling with the pain, as relative value trades come unstuck
4 years ago
What a difference a month - and a pandemic - make. This time in February, no-one could have imagined a global financial crisis would be unfolding, that credit performance would be a battle between a virus and some of the biggest government and central bank interventions on record, that today's iTraxx Europe and CDX index rolls would traverse unprecedented ranges, that option expiry strikes would be blown beyond recognition, or that cash and CDS differentials would be whipsawing with such violence -
CDS index rolls to proceed on time despite record volatility and lockdowns
4 years ago
This Friday's move into new CDS index series will go ahead as scheduled, administrator IHS Markit has said, having sought advice on whether to postpone the roll date due to coronavirus-led market volatility -
CDS index roll day threatened with delay by virus volatility
4 years ago
This week's scheduled move to new series of iTraxx and CDX indices has been thrown into doubt by the extent of coronavirus-led volatility, with IHS Markit consulting on whether to postpone the roll day -
Credit hits new wides as US and Europe ramp up coronavirus battle plans
4 years ago
An emergency weekend rate cut by the US Federal Reserve as well as population lockdowns in France and Spain underscore that measures of economic risk have moved to a more systemic level as world governments scramble to deal with the impact of the coronavirus outbreak -
Credit traders’ kickstand: roll nightmares haunt CDS market as indices whiplash
It’s Friday 13th, but CDS traders will be hoping the worst of the horror shows are behind them as they try to regather their shredded nerves in time for next week’s biannual index rolls -
Metrics pulls plug on direct lending fundraising
4 years ago
Australian direct lender Metrics Credit Partners has pulled the plug on fundraising for its listed private debt fund -
Curve inversion for airlines and freight as Trump travel ban sparks sell-off
4 years ago
Airlines, travel firms and shipping companies are among some of the credits hit hardest by US president Donald Trump’s imposition of a ban on travel from mainland Europe, a move that sent the iTraxx Crossover index back to its widest level since October 2012 -
Credit breakdown as one-day volatility outstrips financial crisis
4 years ago
Credit default swap markets have surpassed the record one-day volatility of the global financial crisis, with indices surging to new wide prints as the spiralling impact of the coronavirus outbreak brings government lockdowns on travel while wreaking havoc on oil prices and supply chains -
Credit traders' kickstand: this is not a drill
4 years ago
Freefall in financial markets has brought one of the credit market’s most volatile sessions on record, as coronavirus cases globally near 100,000 and the WHO has warned governments are not doing nearly enough. iTraxx Crossover one-day volatility is up with the 2008 global financial crisis and 2011 European sovereign crisis -
Huge CDS gap yawns between US and Europe, despite Fed intervention
4 years ago
Having crossed paths in a rare moment of compression on Monday, iTraxx Europe and its US counterpart CDX IG have since undergone one of their biggest moments of dislocation since the global financial crisis, as an emergency rate cut by the Federal Reserve failed to comfort investors about the impact of the coronavirus on the US economy -
Europe rallies hard after CDX IG closes tighter for first time since June
4 years ago
Volatility in credit remains heightened due to the coronavirus outbreak, but movement has become two-way, with European CDS indices surging tighter today after US index CDX IG ended yesterday’s session tighter than iTraxx Europe for the first time in nine months -
Another EM portfolio manager leaves NNIP for William Blair
4 years ago
William Blair Investment Management has hired Johnny Chen as a portfolio manager in SIngapore, in what marks the latest defection from NN Investment Partners' emerging market debt team to William Blair
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