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Credit market hits new wides as government outbreak measures intensify
4 years ago
Credit market are making another push wider at the start of the week, after governments tightened restrictions on movement to deal with the escalating coronavirus outbreak -
Credit traders' kickstand: rolling with the pain, as relative value trades come unstuck
4 years ago
What a difference a month - and a pandemic - make. This time in February, no-one could have imagined a global financial crisis would be unfolding, that credit performance would be a battle between a virus and some of the biggest government and central bank interventions on record, that today's iTraxx Europe and CDX index rolls would traverse unprecedented ranges, that option expiry strikes would be blown beyond recognition, or that cash and CDS differentials would be whipsawing with such violence -
Credit traders’ kickstand: roll nightmares haunt CDS market as indices whiplash
It’s Friday 13th, but CDS traders will be hoping the worst of the horror shows are behind them as they try to regather their shredded nerves in time for next week’s biannual index rolls -
Credit breakdown as one-day volatility outstrips financial crisis
4 years ago
Credit default swap markets have surpassed the record one-day volatility of the global financial crisis, with indices surging to new wide prints as the spiralling impact of the coronavirus outbreak brings government lockdowns on travel while wreaking havoc on oil prices and supply chains -
Credit event protocol goes into force with 60 extra sign-ups
4 years ago
The International Swaps & Derivatives Association is going live today with a protocol aimed at stamping out narrowly tailored credit events from the CDS market, having signed up 1,358 entities -
Isda tables plans to rid CDS market of narrowly tailored credit events
5 years ago
After lengthy deliberation, a working group of major firms is today set to publish proposals aimed at ridding the market of ‘narrowly tailored credit events’, whereby borrowers are persuaded to default on debt payments in order to trigger pay-outs for CDS holders
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