High yield resumes compression as IG seeks direction
High yield companies are once again among the best performers today as compression resumes with the investment grade credit market, despite an absence of compelling signals from stock indices or oil prices

Wide-end names gain ground as market hits impasse
Financial markets appear to have a hit resistance points in several asset classes today, with credit, stocks and oil prices struggling to find traction despite encouraging signals from the UK on rolling out the Pfizer/BioNTech covid vaccine

Ziegler buys stake in credit SMA specialist
Ziegler Capital Management has acquired a minority stake in a US credit asset manager that invests across investment grade, high yield and emerging market corporate bonds along with mortgage-backed securities

Spread compression resumes with US passing key milestones
Credit markets have resumed their crunch tighter today, with an absence of any obviously negative brakes to offset strengthening Asian industrial numbers and applications by vaccine makers for emergency approval in the US and Europe

Blackstone buys $7.5 billion quantitative credit manager
Blackstone has bought DCI, a $7.5 billion technology-driven quantitative credit manager

Bulls give up some gains as IG banks and energy lead market wider
In a cautious opening to the week, credit spreads are edging wider against a backdrop of faltering oil prices but marginally strengthened stocks

Compression plays out as HY and European CLO double Bs outperform
Investment grade and high yield credit spreads have tightened in sync with each other this week, but CDS and CLOs alike underline that the big theme over the past month has been compression between investment grade and high yield

Europe keeps to the grind with wide-end driving improvement
Credit exhibits a firm tone as the week draws to a close, with index spreads grinding back towards their tights despite a mixed picture for oil prices and much of the US market away after the thanksgiving holiday

Stressed credits push tighter even as index bulls take profit
A cautious tone has returned to financial markets ahead of the US thanksgiving holiday, with the strong push tighter of credit spreads in recent sessions giving way to a widening move

Investment grade rallies hard on hopes of end to US deadlock
In a change from the recent trend investment grade credit is the front mover today, playing catch up on high yield as the market-wide rally gathers pace

Energy and transport names lead way as compression trades gain
High yield is leading the way again in credit - continuing last week's theme - as positive results from another covid-19 vaccine test and buoyant oil prices bring a strengthening tone to financial markets

European high yield stays positive as rest of market hits resistance point
Credit markets are taking a cautious step back following the recent rally, with only European high yield spreads still exploring their best prints of the week 

Covid toll puts reality check on market rally
Credit markets look to have hit a point of resistance, with spreads retracing today amid a rising likelihood of stricter covid-19 measures be applied in places such as New York, Tokyo and Madrid

Compression gains mount as Moderna vaccine result boosts confidence
Compression trades are paying off today, with a new covid-19 vaccine announcement prompting a broad tightening of credit spreads in which high yield corporate indices lead the charge and financial names are outperforming investment grade corporate borrowers

IG and crossover indices converge while European CLO double Bs rally
iTraxx Crossover is again outperforming Main today with the investment grade index widening 0.11bp to 52.56bp while the crossover index is 2.42bp tighter to 296.99bp. Meanwhile bank research signals that junior CLO tranches could benefit as investors look at covid industries through a different lense 

CDS indices edge wider and positive skew opens as Pershing Square puts on new hedge
Credit indices have widened a touch this week but they’re back in focus with reports that Pershing Square Capital Management, led by Bill Ackman, has this week used CDS indices to hedge parts of its equity portfolio

European CLO double Bs jump wider amid October macro worries - but seniors stand firm
The fortunes of investment grade and high yielding European CLO tranches have gone in opposite directions in the last month. In a year where relative value has shifted several times, Creditflux analysis shows that new issue European CLO double Bs have blown out by 16.5% in October versus September, while triple A-rated notes have tightened 6.7% in that time

Single name shorters get improved entry point after conviction test
Returning market optimism has taken credit spreads back to ultra-tight levels. But for bears, this posits a better entry level for short trades, and the recent blow-out may have given strong pointers where to target them

UK pension pool takes management in-house for £1.5 billion index-linked bond fund
The UK’s Border to Coast Pensions Partnership has launched a £1.5 billion sterling index linked bond fund

Compression and curves in play amid second day of vaccine rally
Credit spreads are converging as they edge tighter again today, following their forceful improvement to pre-covid levels yesterday due to a successful covid-19 vaccine test

Primary pumped as Trump gazumped and vaccine hopes jump
A 'yuge' rally is underway in credit markets today, with optimism over Joe Biden's apparent victory in the US presidential election turning to elation following a big covid-19 vaccine breakthrough

Skews flip in Europe after IG credit indices lead rally
Credit spreads are budging wider this morning after a relentless rally this week which culminated in iTraxx Main tightening 4.2bp (7.2%) and iTraxx Crossover tightening 18.8bp (5.54%) at the close yesterday

Robots rise for credit ratings
A fintech platform is launching this month that aims to use artificial intelligence to democratise credit ratings.

Fund performance: Structured finance finds its footing with credit rally
For the first time this year we have seen a structured finance fund take the top spot, as Serone Key Opportunities Fund leads a multitude of other funds in this category in the top 10 of our monthly fund rankings

Ucits at a glance: European funds and CLOs head rankings
Ucits fund returns