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European and Asian surge extends as inflation and gas improvements fuel rally
1 year ago
US credit remains the laggard as spreads elsewhere extend their strong start to the year, taking European and Asian indices back to the recent tight levels -
Brighter start for credit in 2023 as investors return with bid for risk
1 year ago
Credit markets have opened the year on a positive footing, with Europe particularly buoyant as investors lift CDS hedges they placed at the end of 2022 and some bonds receive enthusiastic bids in the secondary market -
Largarde snowballs puncture complacent calm and shocks spreads wider
1 year ago
Credit markets are ending the week on a big push wider, after European Central Bank chief Christine Lagarde delivered the surprise that had been missing from other central bank messaging -
Credit belatedly gives up gains after flurry of central bank hikes
1 year ago
Credit markets barely flickered on Wednesday’s US Federal Reserve announcements, but successive central bank rate hikes on Thursday have caused spreads to widen as traders prepare for the festive season slowdown -
CDS volume jumps by 50% as investors seek new ways to do business
1 year ago
Credit derivatives traders are wrapping up a bumper year, in which there was a big increase in volume and a growing number of use cases for the product -
Major fund withdrawals undermine credit momentum
1 year ago
Credit funds are extending their run of inflows into the end of the year, but investment grade momentum took a dent last week due to investors in one big fund pulling their money -
Credit and commodities diverge after China abandons zero-covid approach
1 year ago
Markets present a mixed picture at the start of the week, with Europe – still processing Friday’s US jobs numbers – opening cautiously after China’s retreat from strict zero-covid policies boosts commodity prices but raises fears of an infection wave -
Rebuke for optimism as US jobs send market bulls running for cover
1 year ago
Investors’ determination to maintain an optimistic outlook on US Federal Reserve policy hit a point of reckoning on Friday, with hot US jobs numbers adding weight to committee members’ message that there is still a lot more work for them to do -
Powell outlook brings risk buyers out in droves, but reality check looks soon to follow
1 year ago
Comments by US Federal Reserve chairman Jerome Powell on Wednesday on the pace of future rate hikes have prompted a sharp rally across global financial markets, including credit. But dissenting voices have already begun to point out the enthusiasm is likely overdone -
Europe regains momentum versus US despite bank concerns
1 year ago
European outperformance is extending this week, taking investment grade and high yield spreads alike to their tightest prints since June relative to their US peers. But Credit Suisse remains a blot on Europe’s record as the bank’s short term risk levels continue a worrying trend -
Credit Suisse slumps in bleak Monday, but high yield name sharply bucks trend
1 year ago
Financial markets are beginning the week on an uncertain footing, with anti-covid lockdown protests in China hitting commodity prices hard. But one European high yield company has bucked credit’s widening push with a massive rally -
Credit Suisse tests investor nerves as market preps for Fed-focused week
1 year ago
Credit Suisse, which has been subjected to another week of intense scrutiny, is heading into the weekend with its credit spreads extending wider, after warning on losses and undertaking a capital hike -
Swiss bank looks to plug holes but investors are hun-gruyere for risk
1 year ago
Credit Suisse is a rare, worrisome cloud in an otherwise brightening sky this week, as Europe extends its tightening trend in credit with the US standing at ease for the Thanksgiving holiday -
Bond tenders bring outperformance as credit fends off commodity woes
1 year ago
Credit markets are managing to stay remarkably robust this week despite high volatility in oil prices and covid deaths in China undermining hopes for its economy to reopen -
Outsized corporate rally puts financials RV in focus
1 year ago
The week is ending with resumption of credit’s recent rally after a brief pause, and Europe once again taking the lead over the US -
UK nerves rattle Europe/US relative value trades, as Hunt seeks to reassure investors
1 year ago
A palpable mood of trepidation on Thursday around the UK’s autumn budget has brought widening of credit spreads, with European indices giving back gains they have made in recent sessions versus their US counterparts -
European outperformance creates index options trading mismatch: Barclays
1 year ago
The recent outperformance of European credit over US has shifted the value of iTraxx index options, but CDX index volatility premiums stand out for having hit a new low -
China property rescue plan keeps credit on front foot
1 year ago
China’s policy shift on covid rules and measures to prop up its ailing property market have brought a buoyant start to the week, despite financial markets having already rallied sharply last week -
US lags as midterms, dollar and global slowdown weigh against broader rally
1 year ago
European and Asia outperformance over the US is extending at pace at the start of the week, with a strong improvement in spreads coming ahead of the New York market open -
Europe-US convergence in play as week ends on strong rally
1 year ago
A big push tighter in credit spreads on Friday has extended the theme of European outperformance, with iTraxx Crossover briefly trading inside US high yield index counterpart CDX HY for the first time since July -
Soft mood music abruptly dashed as Fed and BoE rile markets
1 year ago
The credit market’s strong run of improvement has come to an end this week, with the US Federal Reserve and Bank of England delivering a reality check to hopes of a more dovish path forward on interest rates -
Asia credit rallies sharply but rest of world holds firm ahead of Fed
1 year ago
While most of the global financial market hangs in the balance, Asian credit has undergone a second day of relief rallying having hit the year’s peak on 31 October -
Europe leads broad rally amid speculation on softening rates timeline
1 year ago
After a cautious start to the week, credit markets have rallied ahead of policy decisions by the US Federal Reserve and Bank of England, amid growing investor anticipation of a slowdown in rate hikes as well as hope of a reopening Chinese economy -
Credit pivots sharply as US returns to growth and ECB confirms record hiking cycle
1 year ago
After a wider start, credit markets reversed course Thursday having digested a strong US GDP reading and the European Central Bank lifting its base rate by 75bp – a move that confirms this as the region’s most aggressive ever hiking cycle -
Credit investors find bright spots in gloomy outlook: Credit Rendezvous Q4 2022
1 year ago
Clouds are looming over financial markets as the fourth quarter begins — so investors are moving away from diversified approaches in favour of tailored investments and relative value plays
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