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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 -
US pension to cut long-term private markets pacing plan by 10%
4 years ago
The Educational Employees' Supplemental Retirement System of Fairfax County is considering reducing its 10-year private markets pacing plan commitments by around 10%, according to board documentation seen by Creditflux -
McClatchy whacks out killer headline as CDS pays 98 cents
4 years ago
A month ago, when US newspaper company McClatchy triggered a bankruptcy credit event, sellers of CDS protection may have consoled themselves they were only looking at paying out around 27 cents on the contracts. But yesterday’s credit event auction set the final price at just two, meaning a whopping 98 cent windfall for protection buyers -
McClatchy bonds point to 50 cent CDS pay-out as auction deliverables finalised
4 years ago
McClatchy CDS in on course to pay out around 50 cents, based on cheapest bonds to deliver, after the Americas Determinations finalised five deliverable obligations for the media company’s credit event auction next week -
Bloodbath in primary as credit bleeds months of profit
4 years ago
Some primary market bond issues that investors lapped up in the heady weeks of January are being put to the sword as February ends, while the coronavirus-led downturn in credit has squandered several months of gains in the CDS market -
McClatchy initial list points to 48 cent CDS pay-out
4 years ago
McClatchy CDS looks set to pay out around 47.5 cents to protection holders, if bonds on an initial list of deliverable obligations for the media company’s credit event auction make it to the final list -
West coast pension looks to step up direct lending allocations
4 years ago
The City of Fresno Retirement System will commit $140-160 million to private credit for the next two years, according to board documentation seen by Creditflux. This comes amid a pause in direct lending commitments for the pension fund, which has not committed any capital to this market in 2019 -
Anti-CDS tactics enter European bond market as high yield pipeline builds
4 years ago
‘Anti-net short’, or ‘anti-CDS’, provisions are set to enter the European corporate bond market for the first time, as Merlin Entertainments and Kantar wrap up roadshows for deals financing their acquisitions by private equity firms -
Credit traders' kickstand: Europe ascendant as high yield pipeline returns
4 years ago
The high yield bond primary market grinds back into gear this week just as European credit reaches an extreme point of outperformance over the US, and comes on the back of Europe’s busiest week of investment grade issuance in 18 months -
BlackRock adds new ETF to $1.8 trillion iShares platform
6 years ago
BlackRock has unveiled a new addition to its suite of target maturity fixed income ETFs, with the iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) rolling out this week -
Saba's lawsuit highlights failings of high yield liquidity
7 years ago
Saba recently settled a lawsuit with a client, which highlights how liquidity can evaporate in the high yield market -
Accounting costs drive Hertz spreads wider
9 years ago
US Car rental firm spreads are hit as company looks back over its books -
CDX HY participants eye trading opportunity as energy name widens
12 years ago
A CDX HY constituent continues to head back towards the level of its widest prints this year, with the name’s five-year credit default swap two points wider -
Buy the negative basis, says Goldman Sachs
15 years ago
With structural changes to the credit default swap market pending, Goldman Sachs expects CDS spreads to be driven wider and closer to bonds over the coming months. -
Goldman recommends five credit trades for 2009
15 years ago
On Friday, Goldman Sach analysts published five credit trade recommendations for 2009. -
Barcap recommends basis trades, front-end protection
15 years ago
Barcap recommends basis trades, front-end protection -
Venezuela and Argentina make slow recovery after bond dump
16 years ago
Venezuela and Argentina credit markets are still recuperating from a bond dump by an ABN Amro fund in recent weeks. -
Latin CDS players shrug off Chavez comments
17 years ago
While Latin debt markets have largely shrugged off coments by Venezuelan president Hugo Chavez that Venezuela might withdraw from the International Monetary Fund, others are bracing for the worst with CDS flattener trades.
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