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US rotation means euro credit will outperform, Axa says
11 years ago
Axa Investment Managers is set to keep faith with European credit markets in 2013, despite "eye -watering" returns this year, but is concerned that improving sentiment may prompt a shift out of US corporate bonds and into equities, the asset manager said in a note. -
European high grade credit will return 1.5% in 2013, says JP Morgan
11 years ago
Credit returns will be lower in 2013 than 2012, JP Morgan says, though CLOs look attractive -
Loans are now better value than high yield bonds, says Morgan Stanley
11 years ago
US leveraged loans offer compelling value compared to high yield bonds according to new analysis published by Morgan Stanley this week -
US CLO double Bs are hitting frothy secondary levels, says Wells Fargo
11 years ago
The spectacular recent rally in secondary CLO prices has driven prices of some US double Bs to frothy levels -
Market ignores senior bail-in risk, finds Morgan Stanley
11 years ago
Market implied recovery rates for senior financial bonds in Europe have changed little in recent years despite recent talk of senior bondholders taking losses -
Kinder Morgan's big deal could be a buying opportunity, says CreditSights
12 years ago
Kinder Morgan’s planned acquisition of El Paso, announced on Sunday, will see the gas pipeline operator’s debt balloon from $3.2 billion to $14.5 billion, probably leading to a sell-off in the company’s bonds -
Double A corporates are a safe haven in a storm, says RBC
12 years ago
Well capitalised, cash rich and with little liquidity risk, double A corporates offer value for money -
Smaller bonds give a high yield premium, says Barclays Capital
12 years ago
Smaller bond issues have historically outperformed the broader US high yield market with lower volatility, points out Barclays Capital -
Libor floors are still positive for US CLO equity, argues Morgan Stanley
12 years ago
A newly published Morgan Stanley report points out that Libor floors in US loans are still providing a strong boost to US CLO equity distributions -
Switch to Indonesian coal miners for spread pick-up, says Barcap
13 years ago
Barclays Capital says that there are good opportunities for investors in Asian high yield bonds, as the market in the region has grown and matured -
European single Bs are cheap to US counterparts, says Barcap
13 years ago
Investors looking to take advantage of relative value in high yield on a global basis should switch out of European double Bs in favour of their US equivalents, says Barclays Capital -
New Chesapeake Energy bond could see price boost, says KDP
13 years ago
Credit research firm KDP says that a planned new $1 billion bond from US high yield borrower Chesapeake Energy is attractive at the suggested price -
Beaten down corporate munis are a buying opportunity, says Barcap
13 years ago
The sell-off in muni bonds may provide an opportunity for investors to buy corporate credit risk at beaten down prices, suggests Barclays Capital -
Air Canada bonds are worth a look, says Goldman credit analyst
13 years ago
Goldman Sachs has highlighted 2015 and 2016 notes issued by Air Canada among its top credit picks, while panning the September 2014 bonds from rival airline Delta -
Go long "cyclical laggards", say Goldman Sachs credit analysts
13 years ago
US credits whose fortunes are highly correlated to the growth of the economy have lagged in terms of recent performance, says Goldman Sachs in a research report published on Friday -
Favour GenOn over NRG, recommends Goldman credit analyst
13 years ago
Goldman Sachs has added GenOn, the power producer recently created from the merger of Mirant and RRI Energy, to its list of “picks” and rival NRG Energy to its list of “pans” -
Goldman picks Edison over Constellation
13 years ago
Edison International’s bonds are undervalued based on fears that the company will need to pump money into its Edison Mission subsidiary, suggests Goldman Sachs -
Buy CLNs on investment grade basis credits, says Barcap
13 years ago
Barclays Capital recommends that investors buy credit-linked notes referencing investment grade credits that have a sizeable basis between credit default swap spreads and spreads on corporate bonds -
Short Italian banks’ debt, recommends Deutsche Bank
13 years ago
In a research report published on Friday, Deutsche Bank suggests several short candidates as cost effective hedges for systemic credit risk in Europe -
HealthSouth bonds should be attractive, says KDP
13 years ago
Independent credit research firm KDP Advisors believes that the eight and 12-year bonds announced by HealthSouth yesterday are attractive at price talk -
Goldman suggests reit switch
13 years ago
Goldman Sachs has added the 7.75% 2020 bonds issued by SL Green Realty to its list of recommended buys -
Swap railroad bonds, suggests Goldman
13 years ago
Goldman Sachs analysts have added Canadian National Railway’s 5.55% 2019 bonds to its list of “pans” -
Morgan Stanley trading desk recommends mining switch
13 years ago
Trading desk research suggests a switch out of Anglo-American -
Sell Wal-Mart: buy Texas, suggests Barcap
13 years ago
Switch from corporate bonds into higher yielding or better quality muni debt, suggest Barclays Capital -
Switch from secured to unsecured bonds, suggests Barcap
13 years ago
The growth of secured bonds and the expense of unsecured bonds in Europe may create opportunites to buy unsecured debt at attractive levels
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