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Sell Conoco, buy Williams bonds, suggests Goldman Sachs
14 years ago
Williams Company’s 2019 7.625% bonds, trading at a yield of 6% or a spread of 225 basis points, offer good relative value compared to the energy company’s peers, says Goldman Sachs -
Go long sovereign versus corporate credit risk, recommends Barcap
14 years ago
Barclays Capital researchers argue in their most recent European Credit Alpha report that some European corporates trade too tight relative to their respective sovereign, with many trading inside sovereign -
Citi goes online with Expedia crossover basis trade
14 years ago
In its latest High Yield Weekly research report, Citi says that crossover credits continue to offer attractive opportunities for basis trades despite the narrowing in the basis for many investment grade names -
UniCredit recommends buying protection on Fiat
14 years ago
UniCredit analysts recommend selling five-year protection on Fiat at 325 basis points and buying five-year protection on Renault at 290bp. -
Buy iTraxx super-senior protection, says BofA/Merrill
14 years ago
In light of central banks’ intentions to sustain base rates, Bank of America/Merrill Lynch credit derivatives strategists recommend buying protection on the iTraxx super-senior tranche. -
Citi touts relative value play on oil credits
14 years ago
Citi suggests a relative value trade in the US high-yield energy sector to take advantage of technical distortions in the cash and credit default swap market -
Goldman closes out correlation short recommendation
14 years ago
Goldman Sachs credit strategists closed their investment grade short correlation trade yesterday -
JP Morgan recommends correlation shorts
14 years ago
In the latest issue of its Global Tranche Trader report, JP Morgan recommends several trends that will benefit from a fall in implied credit correlation -
Buy Gazprom 2015 bond, recommends UniCredit
14 years ago
UniCredit analysts recommend buying Gazprom’s 2015 bond. -
Barcap suggests high yield positive basis package
14 years ago
In a recent research article Barclays Capital suggests a positive basis package to take advantage of the wide credit default swap spreads of many high yield index constituents compared to their cash bonds -
Swap paper maker's first liens for second liens, suggests Goldman
14 years ago
Goldman Sachs says that Verso Paper’s second lien bonds offer better risk-adjusted returns that its first lien paper -
Switch from Renault to Fiat bond, says UniCredit
14 years ago
UniCredit analysts recommend switching from Renault’s bond into the Fiat’s bond. -
Maintain credit positions for sluggish recovery, recommends Deutsche
14 years ago
Investors should maintain credit positions for now, while accumulating long-spread positions by either selling treasuries, or paying fixed on interest rate swaps, says Deutsche Bank -
UniCredit recommends CDS pair trade in electricity sector
14 years ago
UniCredit analsts recommend a credit default swap pair trade on Edison and Gas Natural, by buying five-year CDS on Edison. -
Goldman identifies refi-risk corporate curve opportunities
14 years ago
In its credit research this week, Goldman Sachs posited potential curve steepeners, identifying names with higher-than-normal refinancing risk. -
HeidelbergCement is still cheap, say trading analysts
14 years ago
BNP Paribas’ trading analysts recommend buying HeidelbergCement’s bonds and buying protection on the name. -
UniCredit recommends Portuguese bank negative basis trade
14 years ago
UniCredit analysts recommend a negative basis trade on Banco Comercial Portuguese -
Go long Owens Corning, says Goldman Sachs
14 years ago
Goldman Sachs recommends selling protection on fibre glass producer Owens Corning, given its wide spread of 235 basis points relative to peers -
Buy iTraxx Lo-Vol protection and sell SovX, says Goldman
14 years ago
Goldman Sachs strategists recommends buying protection on iTraxx Lo-Vol and selling protection on iTraxx SovX. -
Buy Imperial Tobacco's bond, says UniCredit
14 years ago
UniCredit analysts recommend a cash bond trade on Imperial Tobacco for their relative value trading idea. -
UniCredit suggests negative basis trades on Volvo
14 years ago
UniCredit suggests negative basis trades on Volvo -
Goldman Sachs recommends credit correlation trade
14 years ago
Asserting that credit correlation will take time to come down and is hence the last risk premium to normalise, Goldman Sachs strategists in their latest research make two trading recommendations. -
Roll early to grab Crossover positive skew, says Barcap
14 years ago
Looking forward to the iTraxx series 12 roll, Barclays Capital analysts argue that investors should focus on skew, liquidity, curves, and fundamentals in order to exit from series 11 and enter series 12 as profitably as possible. -
Go long Telenor and short TKA, recommends UniCredit
14 years ago
In expectation of Telenor’s spreads tightening, UniCredit recommends selling five-year protection on Telenor and buying protection on TKA. -
Buy into options smile, recommends Morgan Stanley
14 years ago
Declining demand for payer credit options (the right to buy protection) in recent weeks means that it is now cheaper to buy these options than at any time since the collapse of Lehman Brothers in absolute price terms, says Morgan Stanley
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