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Retailers, travel cos and Italian banks lead charge as market rally accelerates
2 years ago
Retail companies have been resurgent on Thursday as the credit market’s relief rally gathered pace, with Europe seeking to catch up with the US following its strong surge -
US retailers hit hard as inflation and dollar spark big sell-off
2 years ago
Inflation worries and a strengthening US dollar have once again upended the credit market’s fragile confidence, taking spreads on a violent lurch wider with the US underperforming Europe -
Russia CDS won't be orphaned in credit event but could pay big, say investors
2 years ago
Contrary to a flurry of recent media reports, Russian Federation CDS contracts are highly likely to have deliverable bonds in the event the country triggers a credit event - and this could come soon with high pay outs for protection holders -
Fund performance: Déjà vu as April leaders dominate
3 years ago
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns -
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 -
Ucits at a glance: Year-to-date returns head for double figures
3 years ago
Ucits funds generally performed well in October as 75% achieved positive returns -
Spread compression resumes with US passing key milestones
3 years ago
Credit markets have resumed their crunch tighter today, with an absence of any obviously negative brakes to offset strengthening Asian industrial numbers and applications by vaccine makers for emergency approval in the US and Europe -
High yield shorts and basis trades abound as borrowers race to issue
3 years ago
Discrepancies between high yield bonds and CDS could be a rich mine of activity in the coming months, say investors, with volatility set to rise while defaults and late cycle signals avail trading opportunities -
Selecta splashes CLOs with bankruptcy credit event
3 years ago
Selecta Group has triggered a bankruptcy credit event, the Emea Determinations Committee has ruled -
Tranche traders smell the coffee as Crossover default percolates
3 years ago
Selecta Group looks set to become the third European credit event in as many months to hit series 33 of the iTraxx Crossover index and tranches based on series 32 -
IG tranches look 'boring' after distressed names ejected at roll
3 years ago
September’s index rolls brought tranche traders some of the starkest portfolio changes in recent years, with fallen angels and defaults shifting correlation dynamics. This creates relative value openings, but investors will take longer to move into new series as they require extra analysis, say dealers. -
Europe/US high yield gap re-opens with roll, but raises fair value questions
3 years ago
The semi-annual roll of US high yield index CDX HY has once again put daylight between it and European counterpart iTraxx Europe. But the new series has come in tighter than some market participants had anticipated -
Credit event auctions mount as European resistance breaks
4 years ago
Two constituent defaults in iTraxx Crossover — the first to hit the European on-the-run index in almost two years — have made 2020 the second busiest year ever for credit event auctions -
Credit fundraising: distressed keeps in favour but CLO ETFs emerge
4 years ago
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies -
French and travel names lead sell off as UK widens quarantine list
4 years ago
European credit is pushing wider at the end of the week, following the UK's decision to remove France, the Netherlands and other countries from its list of those safe to travel to without quarantine -
Nine bonds make list to settle Noble, positing 98-cent CDS pay out
4 years ago
Nine bonds are on an initial list of deliverable obligations to settle at auction CDS referencing Noble Corporation, the latest CDX HY index constituent to trigger a bankruptcy credit event -
Fund performance: Credit funds post double-digit gains
4 years ago
June returns have once again been led by CLO funds, as seven out of the top 10 belong to our CLOs category. -
Distressed to the nines: Noble joins CDX HY default tally
4 years ago
Noble Corporation, a US offshore drilling company, has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled - making it the ninth default in the on-the-run CDX HY index -
Chesapeake deliverables point to big pay-out on CDS
4 years ago
An initial list of deliverable obligations to settle CDS referencing Chesapeake Energy Corporation at auction points to a pay-out of over 97 cents to protection buyers - higher than where five-year contracts are priced -
Chesapeake CDS auction date set
4 years ago
Dealers have set a date to settle Chesapeake Energy Corp CDS, in what will be the thirteenth credit event auction of 2020 -
California Res auction brings 99 cent problem for CDS protection sellers
4 years ago
An auction to settle CDS referencing California Resources Corp has settled at just 1.125 cents, meaning a 98.875 cents pay-out to protection buyers -
Ucits at a glance: Ucits recover lost ground
4 years ago
The foot has come off the gas for many funds - 57% of funds did not break the 2% return barrier. -
Chesapeake default takes CDS auctions to eight-year high
4 years ago
Chesapeake Energy has been confirmed as the latest CDX HY index constituent to require settlement at auction, after the Americas Determinations Committee ruled it has triggered a bankruptcy credit event -
Chesapeake bankruptcy points to hit for CDS and loan holders
4 years ago
Chesapeake Energy looks set to become the latest in a string of defaults to hit US high yield index CDX HY, after the Oklahoma City headquartered shale producer filed for chapter 11 protection -
California Resources auction set as CLOs hold loans and recoveries look low
4 years ago
The Americas Determinations Committee has set a date to resolve CDS referencing California Resources Corp, which has triggered a failure-to-pay credit event
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