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US tech earnings fuel relief rally even as Europe's gas supply drops
2 years ago
Stronger than anticipated earnings at US tech giants have boosted financial market sentiment and brought a relief rally to credit following yesterday’s sell-off -
Russia and retail put stop to credit rally with big spread reversal
2 years 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 -
Italian rout gathers pace as credit relationships warp well beyond historical norms
2 years ago
Renewed selling pressure on Thursday has taken credit spreads back towards the year’s wides, with financial borrowers underperforming as Chinese covid cases, US inflation and a drought in Italy all weigh on sentiment -
Go long duration in consumers and industrials: BofA
2 years ago
The year’s wides still lie ahead in the second half, but China reopening is bullish for consumer and industrial spreads and investors should extend duration in high-quality credit, according to Bank of America strategists -
Credit tacks sharply as hiking talk brings choppy start to week
2 years ago
European financial markets opened the week on a cautious footing, after a weak Asian session, with credit indices oscillating between wider and tighter prints over the course of Monday morning -
EU inflation prints frame challenge ahead as horror show first half ends
2 years 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
2 years ago
Weak US consumer confidence numbers on Tuesday sent shockwaves through markets that are continuing to reverberate in Wednesday's trading session -
Fed hike speculation holds sway over Europe and Asia despite US holiday
2 years ago
Credit markets have opened the week marginally tighter, with Europe and Asia cautious on Monday in the absence of a US trading session, and US Federal Reserve statements likely to drive sentiment in the rest of the week -
Market jitters mount as US delivers May CPI
2 years ago
Credit spreads have moved sharply wider for the fourth day straight as investors digested the European Central Bank’s hawkish turn and watched with trepidation for the US to reveal its May consumer price index numbers -
Russia oil ban accord unites markets in sell off
2 years ago
EU leaders’ compromise agreement on banning Russian oil imports by sea has presented a united front few may have thought possible only days ago. But financial markets have not reacted positively, with risk assets selling off as the euro slumps and oil hits its highest level since March -
Fund outflows extend despite sharp improvement in credit performance
2 years ago
This has been a much better week for credit and equity market performance than last, but that has not stopped the tide of investors looking to withdraw their money from funds for such risk assets -
Europe feels Arctic chill while currency and tech woes add to fear
2 years ago
European markets have again taken a bearish turn on Thursday, with Finnish Nato aspirations, the strengthening US dollar, persistent inflation and slumping tech stocks adding to investors’ deepening dismay -
Stalling growth engines leave market in deeper turmoil
2 years ago
Financial markets are starting the week in another heavy slump, with credit hitting new wides as various asset classes take a beating from economic growth fears and the prospect of a recession in 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... -
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 -
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 -
Tech and supply chain concerns take credit back to year's wides
2 years ago
A cocktail of bearish signals has taken credit markets back to their widest levels since March, with Tuesday's sell off spilling over into the Wednesday session -
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 -
Big swing for high yield property co as bears make new push
2 years ago
Credit trading has turned decidedly bearish again as the weekend approaches, with investors bracing for a host of market-impacting developments. This has brought a particularly volatile reversal in performance for one European high yield borrower -
Heavy mood greets Europe’s return as earnings and rates policy weigh
2 years ago
The European market on its return after the long weekend is greeted with another sizeable push wider in spreads, with focus on US Federal reserve policy, this week’s round of corporate earnings and the prospect of US 10-year inflation linked bond yields turning positive for the first time in two years -
US oil drive boosts credit, but property firm goes against the flow
2 years ago
US moves to increase oil supply have prompted financial markets to resume rallying, after Russia dampened optimism on peace in Ukraine. But one European company is moving sharply in the other direction -
Credit rally extends as investors welcome hawkish but clearer Fed message
2 years ago
Credit markets have carried their rally over to another day, fuelled in part by what investors have interpreted as a hawkish but clear message from the US Federal Reserve on policy tightening -
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
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