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Flat curves and decompression make waves below the surface
4 years ago
Hopes of using the summer slowdown to get to the beach may be tempered for credit relative value traders, where opportunities abound behind the uninspiring benchmark numbers of the slow market grind. -
Net short language could force lenders to sell at a loss
4 years ago
Signs are growing that ‘net short’ provisions in bonds and loans are getting closer to hitting CDS investors, with two instances in recent weeks of the language expanding both in geographical and functional remit. -
Back to basis (and skew) as relative value plays catch-up
4 years ago
Basis trades between bonds and CDS failed to gain traction during July as synthetic markets held ground or improved their position versus cash, but this is beginning to change, say market participants. -
Arrival of five-year bespokes draws in CLO investors
4 years ago
Synthetic bespoke tranches are undergoing a major shift, with dealers projecting five-year business to supersede previously dominant shorter tenors by the end of 2019. -
Investors regain nerve to trade the curve
4 years ago
Post-crisis, CDS curve trading languished as an unloved strategy, due to illiquidity outside the five-year tenor. But dealers note resurgent demand for both 3-5 year and 5-10 year positioning, albeit with mixed results. -
Credit traders' kickstand: Trump gives Europe the ghoulies as single B spectres haunt CLOs
5 years ago
Trade tariff terrors and things that go triple C rated in the night are top of the list of items spooking credit market sentiment at the end of this week -
Ice seeks consensus with credit risk analytics service
5 years ago
Intercontinental Exchange (Ice) has launched ICE Credit Risk, a suite of analytics it will provide in collaboration with financial risk assessment company Credit Benchmark -
Neiman Marcus loan slumps amid debt restructuring talks
5 years ago
The luxury fashion retailer’s $2.95 billion cov-lite term loan B, due October 2020, traded down 1.65%, according to IHS Markit -
SEC charges ex-Nomura CMBS traders with fraud
6 years ago
The SEC yesterday said that two former Nomura CMBS traders, James Im and Kee Chan, misrepresented price information to clients in trades where they were acting as intermediaries -
CLO equity bids soar above NAV as dealers dominate b-wics
7 years ago
Two of the most active CLO dealing desks snapped up three out of four positions available on a closely watched secondary sale yesterday -
Ex-Bear credit sales specialist sets up home in Brownstone
7 years ago
New York-based broker Brownstone Investment Group has hired a senior credit sales specialist, according to well placed sources
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