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Credit Suisse rallies hard as rest of market suffers
1 year ago
After a tough week for Credit Suisse, the bank’s credit spreads have ended Friday’s session on a notably better tone than most others in the European market -
Picard and Cleveland-Cliffs underscore high yield single name sensitivity
3 years ago
Picard entered a relief rally on Friday after postponing a triple-tranche bond deal backing a refinancing and shareholder dividend -
French foodco CDS jumps on bond offering
3 years ago
Picard, the French frozen foods company, is a big underperformer in credit markets on Monday, as it limbered up to bring a triple-tranche bond deal -
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 -
Curve steepeners gain ground with inflation in focus
3 years ago
Credit performance this week has done little for market-directional trading strategies, but one area gaining traction beneath headline numbers is the steepening of curves -
It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
3 years ago
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018 -
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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Credit touches November levels as nerves fray on France and Fed
3 years ago
Fears of a third national lockdown in France and the risk of disappointment from Wednesday's US Federal Reserve meeting have pushed credit wider along with a sell off in stocks -
Fallen angels and financials feel heat as CDS indices roll
4 years ago
CDS indices are rolling into new contracts today, with outgoing series of iTraxx Europe and Crossover widening sharply from the market’s open on technical as well as fundamental factors -
Investcorp targets most liquid loans for new European credit fund
4 years ago
Investcorp Credit Management is targeting “the largest and most liquid European issues” after raising €318 million for a levered credit fund that invests in European loans -
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 traders' kickstand: ECB rocket boosts Europe's outperformance of US
5 years ago
Investment grade credit index iTraxx Europe has reopened a 5bp differential with US counterpart CDX IG, boosted by the European Central Bank’s stimulus plan
12 results found Showing page 1 of 1
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