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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 -
Egypt works its Sharm on credit markets
1 year ago
Egypt looks to be reaping the benefits of hosting the Cop 27 climate summit in Sharm el-Sheik, with the country’s credit spreads on a sharp rally this week -
Credit faces blind spot as borrowers enter higher default cycle: BNP Paribas
1 year ago
With short term rates outstripping nominal GDP growth, the credit cycle is entering its next and final stage – one in which corporate defaults will pick up but high quality borrowers should outperform -
Chicken company rallies sharply against widening market as revenues find their wings
1 year ago
European retail related credit is in focus on Thursday, with Boparan among the market’s big outperformers following latest earnings results -
US and Europe divide honours between HY and IG as market rally extends
1 year ago
A second straight day of improvement is adding to this week’s gathering rally, but while US high yield is outperforming European the reverse is true in investment grade -
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 -
Ukraine triggers restructuring credit event
1 year ago
Ukraine has triggered a restructuring credit event, the Credit Derivatives Determinations Committee has ruled -
German firm takes big hit even as most of Europe gains ground
1 year ago
Adler was an outlier in Thursday trading as it bucked overall market improvement following the collapse of a deal to sell shares in a subsidiary. But the Bank of England soon took the shine off credit sentiment in any case -
Russia and retail put stop to credit rally with big spread reversal
1 year ago
Russia’s move to cut gas supplies once again to Europe, as well as a Walmart profit warning in the US, are weighing heavily on markets Tuesday and sending credit spreads sharply wider -
Europe vs US arb hits resistance as dislocation becomes more extreme
1 year ago
Recession fears have pushed several different asset classes to key psychological levels, while leaving European and US credit markets at a high level of dislocation -
EU inflation prints frame challenge ahead as horror show first half ends
1 year ago
Financial markets are heading into the weekend with a rare stationary session, but the mood is more one of shellshock than considered positioning, after one of the worst first halves to a year on record -
Consumer confidence shock sends spreads back to wides
1 year ago
Weak US consumer confidence numbers on Tuesday sent shockwaves through markets that are continuing to reverberate in Wednesday's trading session -
Property firm's troubles mount while rest of market rallies
1 year ago
Financial markets have opened the week brightly on a mix of improved sentiment and technical repositioning. But one European high yield company is heading further into stress, against the flow -
Real estate stock manoeuvre sparks credit spread blow out
1 year ago
Adler Group's move to 'squeeze out' equity from a subsidiary business has prompted a sharp sell off in bonds and CDS attached to the company -
Retailers, travel cos and Italian banks lead charge as market rally accelerates
1 year 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 -
Property giant takes a tumble as European fortunes diverge
1 year ago
Adler Group, the German real estate giant, is once again coming under intense pressure in the credit market amid reports the country’s financial watchdog has begun a criminal investigation into its dealings -
US retailers hit hard as inflation and dollar spark big sell-off
1 year 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 -
Credit Rendezvous: Pass masters
2 years ago
Most often, a credit market downturn has its roots mired in one big, blatant obstacle that credit managers have to focus their attention to overcome. But right now, it’s not the dominant risk factor that has to be defeated, it’s the sheer number of them... -
German real estate co volatility spikes after auditor refuses earnings sign off
2 years ago
Adler Group has hit new levels of volatility in financial markets after auditor KPMG refused to certify the company's full-year 2021 results and board members offered their resignations -
Russia looks to avoid default as deliverable list points to 27-cent recovery
2 years ago
The Credit Derivatives Determinations Committee has published a preliminary list of bonds it deems deliverable into Russian Federation CDS contracts, even though reports suggest Russia may have avoided default with just one day left on the country's grace period for overdue international bond payments -
German real estate co troubles mount on short-seller response and earnings no-show
2 years ago
Friday is proving a bad day to end a bad week in a bad year for Germany's Adler Group, with debt risk measures hitting new levels as short-seller Viceroy responds to the firm's recent investigation by KPMG and the market rumour mill goes up a gear -
Earnings wait puts German firm’s investors in real state
2 years ago
The credit market’s brief relief rally on Thursday morning has given way to a resumption of the bearish run, with one European high yield borrower entering dangerous territory and Tesla coming under pressure in US credit after its share price took a hit -
Prep work begins for Russia credit event auction
2 years ago
The Credit Derivatives Determinations Committee has started preparing for a credit event auction to settle CDS referencing the Russian Federation, which stands on the brink of triggering sovereign contracts -
German property co hits new wides as investors scrutinise investigation report
2 years ago
The bearish momentum that gripped financial markets on Friday has spilled over the weekend into Monday's session, with an especially big move in the debt of one German real estate borrower taking it to worrisome spread levels -
German real estate firm leads way as credit makes another lurch tighter
2 years ago
Adler, the German real estate investment group, is among the outperformers in Friday's rallying credit market, despite an audit by KPMG having been unable as yet to refute allegations made against the company
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