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Refinancing continues to dominate headline figures in latest European leveraged highlights
9 months ago
Debtwire has released its July 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets -
Swiss bank looks to plug holes but investors are hun-gruyere for risk
1 year ago
Credit Suisse is a rare, worrisome cloud in an otherwise brightening sky this week, as Europe extends its tightening trend in credit with the US standing at ease for the Thanksgiving holiday -
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 -
Italian rout gathers pace as credit relationships warp well beyond historical norms
1 year 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 -
Fund performance: Rocky May piles on the misery for credit hedge funds
1 year ago
Negative fund performance soared in May -
Credit retreats from wides, but worrisome test levels remain in view
2 years ago
Another rocky week for markets is ending with credit finding a firmer tone. But big questions remain unanswered about relative value and the levels some sectors could test -
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 -
Caution returns to credit trading following tech sector rout
2 years ago
After a strong Tuesday session, financial markets are taking a more cautious step back on Wednesday amid returning inflation concerns and following a weak session for Chinese tech stocks -
Telco and retailer gap wider as PE firms circle
2 years ago
Telecom Italia is one of the Monday credit market's biggest underperformers, in an otherwise finely poised start to the week -
Credit Fundraising: Private credit and CLO captive equity feature strongly as closes mount up
2 years ago
Credit funds have made a fair start to the fourth quarter, although the $21 billion raised during October is down substantially on September’s impressive record for 2021 -
Fund performance: CLOs lead but variety is the spice of life
2 years ago
.An assortment of funds have made their mark in August as five different strategies make it into our top 10 for the month -
Ucits at a glance: Angsana recovers from July slump
2 years ago
Just under 75% of Ucits funds made positive returns in August, holding steady from June and July -
China crackdown and Fed meeting rattle nerves
2 years ago
Credit spreads widened as financial markets began the week on a less certain footing amid panic stock selling in China and a retreat to treasuries ahead of the US Federal Reserve two-day monetary policy meeting -
It's all relative: IG index drifts wide of 50bp as European CLO triple Bs outperform
2 years ago
US investment grade credit has been an underperformer in the last few weeks with CDX IG trading north of 50 basis points again. But European CLO triple Bs are looking strong while there is a stronger bid for two- to three-year paper in the US -
Credit bull run picks up amid commodities surge
3 years ago
European credit spreads have made a sharp turn for the tighter, building on last week's strong run, even after Asian spreads weakened on rising commodity costs -
It's all relative: CLOs march tighter as macro traders open positive CDS skews
3 years ago
Credit default swaps are back near where they started the year after giving up their early-February gains amid a rise in government bonds. CDS curves steepened over the past month and macro hedging has left indices trading with positive skews. But CLOs paint a calmer picture in which spreads have inched tighter -
Compression trades grind into gear as spreads narrow
3 years ago
Compression between high yield and investment grade credit looks to be finally gaining traction in February, having been identified by some strategists at the start of the year as a key 2021 theme -
ESG was factor when firing managers for 42% of investors, survey reveals
3 years ago
The latest survey from investment consultant Bfinance shows the coronavirus pandemic increased focus on ESG issues for over a third of investors - and ESG is important when selecting external asset managers -
It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
3 years ago
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018 -
Italian spreads signal Conte confidence ahead of Senate vote
3 years ago
Italian banks are among the best performers in credit on Tuesday as hopes rise for a vote of confidence in prime minister Giuseppe Conte's government and the CDS market returns to tighter spreads -
Comment: Europcar auction dented short-sellers but not CDS
3 years ago
Far from showing the CDS market is not fit for purpose, last week's Europcar Mobility Group credit event auction was a lesson that speculative short selling is a dangerous ploy - especially when the trade is crowded -
Europcar CDS auction shocks protection buyers with zero pay-out
3 years ago
Wednesay's auction to settle Europcar Mobility Group CDS has left protection buyers on the company with nothing to show for their investments and hedges, after dealers produced an unexpected 100% recovery on contracts due to a technical mismatch in bids and orders -
LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
3 years ago
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates -
Big push wider in high yield as traders cut their longs
3 years ago
Europe's iTraxx Crossover CDS index has given up a big part of its recent rally today, underperforming other indices amid signs traders are closing up books early for the end of the year -
No auction needed for Zambia CDS, says DC
3 years ago
Investors will have to physically settle Republic of Zambia CDS as there are not enough contracts outstanding to merit a credit event auction, the Emea Determinations Committee has ruled
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