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IACPM survey finds credit PMs still gloomy, but less so than last quarter
1 month ago
Respondents to the latest IACPM Credit Outlook Survey are still negative about future credit conditions, but less so than in previous surveys -
Credit PMs remain gloomy in latest IACPM survey
4 months ago
Survey participants in the latest IACPM Credit Outlook Survey believe the euphoria seen in global financial markets during the last few months of 2023 was overdone -
End on a high: institutional loan and HY bond issuance rises 44% YoY
4 months ago
Leveraged finance (LevFin) issuance across the US institutional loan and high-yield (HY) bond markets totalled USD 529bn in 2023, representing a 44% year-on-year (YoY) increase -
September 2023 US Leveraged Highlights
7 months ago
Refinancing continues to amplify leveraged debt volume in Debtwire's latest report featuring key trends in the leveraged loan and high-yield bond market -
May 2023 European Leveraged Highlights
10 months ago
High yield bond refinancing dominates a weak market according to Debtwire's May 2023 European Leveraged Highlights, featuring key trends in the leveraged loan and high yield bond markets. -
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 -
Skew opens up as indices pivot following broad sell off
1 year ago
The opening of the US session on Thursday has brought a firmer tone, after European and Asian markets extended their weak run. But the reversal in index direction has left single name credits still sitting at much wider spreads -
Beneath the triple C: CLOs take first knock since covid scrapes
1 year ago
CLO managers have been hit by a number of loan downgrades to triple C for the first time since the wave of pandemic-related cuts trickled to a halt in early 2021. Companies indirectly linked to the health sector suffered most in May -
You seem familiar
1 year ago
The overlap between European CLOs has risen to 51.6%, but the largest issuers are only slightly more aligned to their peers at 55.19% — so bonds are proving to be an important differentiator -
Russia oil ban accord unites markets in sell off
1 year 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 -
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 -
CLO managers in the mix for first US credit event auction since 2020
1 year ago
CDS contracts referencing Talen Energy Supply will be settled by credit event auction next month. And Talen's recovery levels will have relevance for a number of CLO managers that have held onto the company's debt - in some cases having bought more very recently -
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 -
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 -
Fund performance: Wasserstein's early 2021 performance drives it to the top
2 years ago
The final top 10 of 2021 featured a variety of funds as five different strategies were ranked among the best. US high yield was the most highly represented with two BlackRock funds and an Angel Oak in the top 10 -
Troubled high yield credits go against flow as market rallies
2 years ago
Credit markets are beginning February with a more buoyant mood, but idiosyncratic volatility is keeping investors on their toes with several European high yield single name credits making big moves -
Broad sell-off as market moves to price five or more Fed hikes
2 years ago
Financial market sentiment has taken another dive in the wake of the US Federal Reserve meeting on Wednesday, with many taking Fed chairman Jerome Powell’s comment that “this cycle is different from the previous one” to mean a steeper tightening than previously thought -
Travel, tech and financials give market boost ahead of Fed second day
2 years ago
Credit and equity markets are back in tandem with a sizeable rally ahead of Wednesday's closely watched US Federal Reserve meeting, following a volatile start to the week -
Credit gives up some gains after central banks’ hawk party
2 years ago
Credit markets are ending the week on a correction wider after central bank-led bullishness drove spreads to their tightest levels of the month -
Financials lead way as IG credit outperforms
2 years ago
European banks are among the biggest improvers as investment grade credit takes a sharp turn tighter on Thursday -
Global credit spreads trade out of time amid omicron whipsaw
2 years ago
The sharply oscillating action in credit spreads is evident for a fifth day straight on Thursday, but the timing of market reactions is taking US and European daily performance out of sync -
UK retailers get frosty reception after price hike warning
2 years ago
UK retailers face spread widening pressure on Tuesday against an otherwise flattish backdrop, as supply chain issues stack up prompting concerns of winter stock shortages and higher prices for goods -
Crossover names drive rally on strong earnings as European traders return
2 years ago
Several high yield borrowers have made strong improvements on Tuesday as the post-Jackson Hole credit market rally has extended from Friday, with European traders returning after their long weekend -
It's all relative: CDX HY touches record tights but junior US CLO tranches leak wider
2 years ago
Credit spreads are marching tighter, but someone forgot to tell the CLO market. European and US CDS spreads have moved in step with each other for the most part with investment grade and high yield tightening 4-6% in the last week, whereas CLOs have been losing ground
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