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Fund performance: European CLO funds lead the way
1 year ago
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January -
Fund performance: Credit funds end difficult 2022 on a positive note
1 year ago
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black -
Buy-out rumours send US high yield company back to January spread levels
1 year ago
Not many single name credits are ending 2022 at the same spread levels they entered the year, but one US high yield company has that profile after its rally of the past three weeks picked up speed following buy-out rumours -
Powell outlook brings risk buyers out in droves, but reality check looks soon to follow
1 year ago
Comments by US Federal Reserve chairman Jerome Powell on Wednesday on the pace of future rate hikes have prompted a sharp rally across global financial markets, including credit. But dissenting voices have already begun to point out the enthusiasm is likely overdone -
Europe regains momentum versus US despite bank concerns
1 year ago
European outperformance is extending this week, taking investment grade and high yield spreads alike to their tightest prints since June relative to their US peers. But Credit Suisse remains a blot on Europe’s record as the bank’s short term risk levels continue a worrying trend -
China property rescue plan keeps credit on front foot
1 year ago
China’s policy shift on covid rules and measures to prop up its ailing property market have brought a buoyant start to the week, despite financial markets having already rallied sharply last week -
Weak opening for markets as BoE makes new intervention and Asia sell-off extends
1 year ago
In the absence of the US market on Monday for the country’s Columbus Day holiday, global markets have extended their bearish direction following US jobs numbers on Friday that point to further hawkishness in the outlook for rate hikes -
US jobs strength sends traders scrambling to cut Fed pivot trades
1 year ago
Credit spreads are ending the week on a sharp move wider, with a heavy sell off hitting financial markets in the wake of US jobs numbers that suggest any notions of a Fed pivot on rates are premature -
Powell moves set to surpass power moves as credit spreads head wider
1 year ago
Hedging has been a prominent feature of financial markets ahead of Wednesday’s hotly anticipated US Federal Reserve statements, but Russia’s move to escalate its war efforts in Ukraine has injected another layer of uncertainty -
US-led sell off shifts index roll technicals with key rates decisions looming
1 year ago
Further deterioration in global economic outlook is causing credit spreads to move back to the midpoint or wide end of their recent range, after a week of reversal from the previously more optimistic September trading run -
Euro credit hits new tights against US after months of underperformance
1 year ago
The gap between European and US credit has closed, with indices trading at their tightest relationship for several months, after US economic data introduced a fresh bout of volatility -
Spreads trace worryingly familiar arc as investors take good news as bad and bad new worse
1 year ago
Credit spreads are pushing ever closer towards the year’s peak levels, continuing Wednesday a sell off that began on Tuesday, with positive US economic data perversely sparking a bearish shift in financial assets that negative European data has since compounded -
Jackson Hole fears and Chinese drought bring bearish start to week
1 year ago
The US Federal Reserve's Jackson Hole Economic Symposium is a key point of focus for investors from the outset this week, with many nervous about the possibility of more hawkish statements arising from that meeting -
Euro IG credit outperforms as US inflation measure fuels euphoric rally
1 year ago
Hopes of the US economy having passed peak inflation have driven global markets on an emphatic rally, beginning on Wednesday and carrying over to the Thursday trading session -
Position cutting tames market rally and strategists warn on primary impact
1 year ago
Caution is the watchword across financial markets on Tuesday, with the strong recent run giving way to hedging and position cutting ahead of a much-anticipated US inflation reading on Wednesday -
Strong rally takes indices back below key levels
1 year ago
A big rally has greeted the start of the new week, in large part fuelled by easing recession concerns following Friday's encouraging US jobs number - but seeminly ignoring signs of further deterioration in the outlook for peripheral Europe -
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 -
"If anything is to be salvaged from the rest of 2022, the economy needs a hero — and quickly"
1 year ago
Something has gotta give as a recession looms in the US. Might it be energy? -
Shimao credit event auction not needed, rules DC
1 year ago
Holders of CDS protection on Shimao Group Holdings will have to physically settle contracts -
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 -
Fund outflows extend despite sharp improvement in credit performance
1 year 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 -
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 -
Ucits at a glance: Long-short funds provide resistance in tough month
2 years ago
In February, Ucits funds followed market sentiment as 90% made negative returns -
Skew in focus for second day as single names move sharply against index
2 years ago
Credit indices are trading out of sync with their underlying constituents for a second day this week, with single names broadly widening despite investors seeking to maintain flattish macro positioning
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