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"No-one talks about the part oil price surges played in the 2008/9 global financial crisis"
2 years ago
Investors eyeing inflation shocks and supply chain disruption should instead be paying attention to the brewing energy crisis -
Energy crunch grows as differentiator for EM and western credit
2 years ago
Surging energy prices are adding to the inflationary picture in global economies and point to a mounting crisis that could bring sharply divergent performance for different parts of the credit market -
Brookfield hires industry veteran as public securities CIO
2 years ago
Brookfield Asset Management has hired a long-serving credit and equity market professional as chief investment officer for its public securities group -
Sov yield surge finally weighs on IG fund flows, as credit turns corner
2 years ago
Investment grade credit funds have suffered their first net outflow in several months, as the uptick in rates volatility has finally weighed on appetite in this part of the credit spectrum -
Investors shrug at new Evergrande bond deadline a week on from roll havoc
2 years ago
Chinese real estate giant Evergrande looks unlikely to meet a $45 million bond payment due on Wednesday despite reports it plans to sell a $1.5 billion commercial bank stake. But credit markets are showing very little reaction despite initial default concerns having up-ended CDS index rolls only last week -
Chinese power crunch brings off day for credit as investor optimism dims
2 years ago
Concerns about a China slowdown, Germany's election result, rate hikes and the US government's inability to lift its debt ceiling have contributed to a sharp move wider in credit, as investors attempt to digest a variety of big unknowns -
Taliban takeover likely to have long-term credit impact
2 years ago
Afghanistan’s takeover by the Taliban has barely caused a ripple in credit even regionally, but the power shift has wide-reaching implications that investors have yet to take onboard, say frontier market specialists -
Reversal brings Chinese outperformance in credit
2 years ago
Credit market improvement hit an impasse in most jurisdictions during August, with range-trading in Europe, the US and much of emerging markets. But Asian credit, and Chinese markets in particular, enjoyed a strong run. -
Retailer jumps on PE rumours while markets stay rooted in Jackson Hole
2 years ago
UK supermarket retailer Sainsbury's has been a notable mover in credit this week, as the wider market waits tentatively on Friday's Jackson Hole movement in the US and fund outflows signal nervousness about US Federal Reserve policy and escalating turmoil in Afghanistan -
Chinese credit makes gains as Europe and US slump on Fed taper fears
2 years ago
Chinese credit spreads on Thursday depicted an island of optimism as global credit and stocks - including its own - slumped against a mounting confluence of concerns -
"China can act how it wants and when it wants in curbing the ambitions of tech firms… but sell offs tend to be opportunities for new buyer
2 years ago
China's latest moves to rein in private enterprise with new rules for education providers have certainly intensified the regulation risk landscape - but Welshcake asks whether this forthrightness could be instructive -
Commodity inflation sends Asia spreads back to wides
3 years ago
Asian credit and stocks added to a rough few days with further sell offs on Thursday, outpacing deterioration in other regions -
Saipem moves sharply on Mozambique moans
3 years ago
Saipem, the Italian energy engineering group, was a big underperformer in a flattish credit market on Wednesday, as uncertainty over a project in Mozambique weighed on first quarter results and its outlook for the year -
Huarong resumes sharp rally as China weighs asset support
3 years ago
China Huarong Asset Manager rallied sharply in the credit market on Wednesday amid media reports China’s central bank could assume some of the state-owned bad debt manager’s assets -
China contagion fears linger as Huarong rebounds
3 years ago
China Huarong Asset Manager, the state-owned bad debt manager, is back on a path to improvement after shocking markets by delaying its annual report. But questions remain over the extent of government support and the ripple effects to the wider credit market -
Corporates show resilience despite sovereign struggles
3 years ago
Turkey’s sovereign credit spread blow-out in the second half of March came as a shock for emerging market credit investors, adding to jitters Brazil had caused a month earlier. But it also highlighted a new trend of corporate borrowers shaking off sovereign weakness -
ESG basket grows and rising stars take focus in CDS index roll changes
3 years ago
Expansion of the ESG investing universe is a prominent feature of this month's roll of iTraxx and CDX indices into new series. Improved credit performance of high yield companies is also a focus, with several moving up into investment grade portfolios -
Brazil upheaval sends EM spreads to new wides
3 years ago
Emerging market credit spreads are reaching new wides, with Brazil holding focus in the sell off amid a spike of covid 19 cases and deaths well beyond the country’s previous peak. Elsewhere credit is in a stable range but underperforming a more buoyant turn in other asset classes -
Tale of two leaders as Brazil and Italy go separate ways
3 years ago
The intervention of governments has been a prominent factor in financial market performance during the coronavirus pandemic. But Italy and Brazil have provided stark examples of how individual leaders can drive credit performance sharply in opposite directions -
No auction needed for Zambia CDS, says DC
3 years ago
Investors will have to physically settle Republic of Zambia CDS as there are not enough contracts outstanding to merit a credit event auction, the Emea Determinations Committee has ruled -
Zambia triggers failure to pay credit event
3 years ago
The Republic of Zambia has triggered a failure-to-pay credit event, he EMEA Determinations Committee has ruled -
Zambia posed to DC as failure to pay credit event
3 years ago
The EMEA Determinations Committee has been asked to rule on whether the Republic of Zambia has triggered a failure-to-pay credit event, despite there being little CDS market exposure to the country's sovereign debt -
Algebris leads monthly returns in new world matrix
3 years ago
Algebris Macro Credit's return submission for May was among the best non-CLO/ABS fund performers out of those Creditflux tracks, adding to a strong turnaround for the strategy -
SocGen promotes cross-asset solutions specialist
3 years ago
Societe Generale has named a global head of economics, cross-asset and quant research -
Argentina auction deliverables list points to lower recovery than CDS
4 years ago
Over 30 bonds have made it onto an initial list of deliverable obligations for an auction next week to settle Argentina sovereign CDS. These notes are mainly denominated in US dollars and euros, but some also in Japanese yen and Swiss francs
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