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China pledges and Russia/Ukraine peace hopes drive relief rally
2 years ago
Credit markets have surged tighter on Wednesday, with China's pledge to support covid-hit markets and hopes rising for Russia-Ukraine peace discussions ahead of US Federal Reserve policy moves that are widely thought to have been priced in -
China's covid response fuels regional dislocation and slowdown fear
2 years ago
Asian credit divergence has extended into a second day, with China's move to address rising covid numbers driving regional spreads as investors elsewhere await a closely watched Federal Reserve meeting -
Europe leads rally ahead of Fed despite mounting concerns from Asia
2 years ago
Credit markets have begun the week on a firmer tone, with Europe outperforming, despite concerns that rising covid-19 cases in China could add a further source of supply disruption -
Russia debt repudiation / moratorium question lands with Determinations Committee
2 years ago
The Russian Federation looks to be edging closer towards triggering a credit event, having been referred to the Credit Derivatives Determinations Committee for a 'potential repudiation / moratorium' on its bonds -
Russia’s long EM index tenure cut in one swoop
2 years ago
Various constituent changes have been tabled for the forthcoming March roll of CDX and iTraxx credit derivative indices into new series, but one stand out is the administrator’s decision to eject Russia from all series of CDX EM -
Euro volatility outpaces US with pivotal hours ahead in Ukraine
2 years ago
Financial markets took another battering on Tuesday, as Russia's war with Ukraine ramped up and western countries moved to enact new sanctions -
Russia debt hits default levels amid FX and asset lock-up
2 years ago
Russia appears to be on the brink of default on its debt, with bonds and CDS pricing in the likelihood of an imminent trigger -
Ukraine crisis takes EU and Russian markets into new territory
2 years ago
Credit spreads went back to the wides again on Monday, after the European Union intensified its pressure on the Russian economy and reached an unprecedented agreement to supply Ukraine with weapons -
Market whipsaws tighter as west holds out on Russian sanctions
2 years ago
Extreme market volatility is extending into the weekend, with a big gap tighter in spreads on Friday as the credit market see-saws due to Russia’s invasion of Ukraine and the uncertain response of both western countries and China -
European credit rallies in stark discord with deepening Ukraine crisis
2 years ago
Cognitive dissonance looks to be afoot in the credit market on Wednesday, with indices rallying for a second day even as Russian and Ukrainian spreads move to new wides -
Investors look to US response after Putin lights touch paper on Ukraine intervention
2 years ago
Credit investors are left facing a what-happens-next moment after Vladimir Putin recognised the Donetsk and Luhansk regions of Ukraine as independent states, paving the way for Russian forces to intervene. In response the US has moved swiftly to impose new sanctions targeting the two regions -
French co rattles investors on micro level as Russia overclouds macro
2 years ago
After a cautious opening, investors in the European credit market have resumed hedging as western leaders continue to talk up the prospect of Russia invading Ukraine and the Kremlin has dismissed hopes of a Biden-Putin summit as premature -
Investors rush to hedge Russia as barrage of threats tee up nervous weekend
2 years ago
The prospect of a flare-up between Russia and Ukraine has left credit spreads back at their recent wide levels going into the weekend, with European investment grade credit particularly feeling the heat following 'false flag' headlines on Friday -
Credit fund rout extends as storm winds buffet from all sides
2 years ago
Another choppy week for financial markets has extended the run of fund outflows, with investors fleeing from all parts of credit and even equity suffering a drop, with government bonds gaining traction -
Scramble to cover shorts extends rally, but analysts stub out tobacco
2 years ago
European outperformance of US credit is picking up despite the UK posting record inflation numbers, as optimism on Ukraine combines with the wrong-footing of investors that had positioned extremely bearishly -
Europe drives relief rally after Russia signals troop withdrawal
2 years ago
European financial market volatility has brought another reversal of relative value dynamics versus the US, with Russia/Ukraine developments extending their sway -
European panic over Ukraine pushes market to new wides
2 years ago
European underperformance of US credit has resumed at the start of the week, with the market waking up on Monday morning to another sharp sell off. But the lengthening downturn has some believing spreads have overshot, while others insist worse is to follow -
Ukrainian volatility speaks loud and clear after Russia talks fail
2 years ago
Ukrainian and Russian credit are ending the week with renewed volatility, as failed attempts at diplomatic talks appeared to exacerbate rather than simmer down tensions between the countries -
Credit unprepared as Russia and Ukraine spreads go on march
2 years ago
Huge moves in Russian and Ukrainian credit spreads have exposed the growing mismatch between assessments of a likely conflict between the two countries, and the neglect of investors to price in its impact on broader markets -
Heavy market rout takes credit back to November 2020 levels
2 years ago
High volatility is gripping financial markets at the end of a week that has been decisively bearish for credit spreads, as concerns about the end of central bank stimulus and warnings of a Russian invasion of Ukraine next month layer on pain for investors -
Biden remarks add extra twist to Ukraine / Russia credit volatility
2 years ago
The war of words around Russia's intentions regarding Ukraine is keeping both countries' credit spreads volatile, with US president Joe Biden's latest remarks leaving room for interpretation on both the perceived threat and how Ukraine's allies are prepared to respond -
Ukraine and Russia volatility steps up amid political trial and conflict fears
2 years ago
Ukrainian and Russian spreads are among the market's biggest movers at the start of the week, as developing tensions between the two countries ramp up another notch and former Ukrainian president Petro Poroshenko has arrived in Kyiv to face treason charges -
Euro bonds set to outperform US despite big fund outflows: BofA
2 years ago
The November credit crash has left Euro investment grade bonds wider than those in the US, a rare occurrence that sets the scene for a January rally, say Bank of America credit strategists -
Reality check for credit as omicron research timeline extends
2 years ago
Another dose of harsh reality has sunk into financial markets on Tuesday, as investors continue to reappraise the impact of tightening travel restrictions and the timeline for pharmaceutical work to address the omicron covid-19 variant -
Traders hunt for Monday bargains in Black Friday debris
2 years ago
The turmoil of Black Friday has given way to a counter-wise move on Monday, with financial markets latching onto scraps of hope over the weekend following the panic of a newly discovered covid-19 variant
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