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Redhedge launches European relative value fund with an eye on pair trades
3 years ago
Redhedge Asset Management has launched a Ucits version of its relative value credit strategy -
Curve steepeners gain ground with inflation in focus
3 years ago
Credit performance this week has done little for market-directional trading strategies, but one area gaining traction beneath headline numbers is the steepening of curves -
Credit returns to year-opening levels as bulls score five out five
3 years ago
Credit markets are on course for their fifth straight day of improvement, with CDS index spreads not only undoing last week's volatile move wider but regaining the tight levels at which they began the year -
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 -
Credit trends wider as it makes bad first compression in 2021
3 years ago
With credit spreads starting the year close to the absolute tights they reached in early 2020, investor emphasis is heavily on relative value. But so far the most signposted of these trading strategies are failing to perform, while market-neutral opportunities have greatly diminished -
High yield credits play catch up as central banks put brakes on bull run
3 years ago
High yield single names gained attention on Thursday, as financial markets took a breather after three days of improvement to digest UK and China central bank policy signals -
Biden buzz highlight's credit's growing pains
3 years ago
Stimulus and a “reflationary window” are the dominant themes of early 2021, particularly in the US, and they will favour growth assets over credit in the near term, say investors. -
Italy gives short-lived succour to credit short strategies
3 years ago
Events in Italy last month showed there is still opportunity for nimble short strategies in credit despite the weight of technical factors pushing down spreads -
Credit funds at a glance (February 2021)
3 years ago
A round-up of fundraising and people moves -
Fund performance: CLO funds keep up momentum as Napier Park finishes top
3 years ago
2020 ended with funds in our CLOs category taking the top few spots -
Ucits at a glance: Advent ends calendar year on top
3 years ago
Ucits ended 2020 on the rise as 89% of funds achieved positive returns in December -
Credit hedge funds (February 2021)
3 years ago
Monthly credit hedge fund tables -
Italian credits lead race tighter as Super Mario eyes new mission
3 years ago
Italian sovereign, bank and corporate spreads are in the spotlight today, after the country's president Sergio Mattarella asked former European Central Bank president Mario Draghi to lead a government in the wake of Giuseppe Conte's coalition collapse -
It's all relative: senior CLO tranches tighten 18% in Europe as CDS indices sit out rally
The corporate credit rally in January is notable because some assets tightened to levels not seen in over a decade (loans), others rallied albeit with a lag (CLOs) and the most liquid stream of credit (CDS indices) defied moves in other asset classes to widen
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Silver squeeze reaches credit in brighter trading mood
3 years ago
Financial markets are beginning the week and the month in a more positive mood after a volatile end to January. But retail investor power - the bane of hedge funds last week - is again exerting an influence that permeates through to credit -
Credit grasps for stability after midweek swoon
3 years ago
Credit markets look to have regained some composure at the end of a rocky week, with indices flattening out despite a continuing decline in stocks -
US looks for stronger open after sell off
3 years ago
US credit is opening slightly stronger on Thursday, after its sharp Wednesday rout, prompted by Federal Reserve messaging, carried over forcefully into Asian and European markets -
Credit touches November levels as nerves fray on France and Fed
3 years ago
Fears of a third national lockdown in France and the risk of disappointment from Wednesday's US Federal Reserve meeting have pushed credit wider along with a sell off in stocks -
Sun Life to liquidate publicly-traded IG credit fund
3 years ago
Sun Life Capital Management has decided to liquidate its publicly-traded credit fund, Ryan Labs Long Credit Fund, according to US regulatory filings. -
Credit Rendezvous: heading for homes
3 years ago
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. -
Credit beats fast retreat as Biden boost dissolves in sea of troubles
3 years ago
The improvement of financial markets following the inauguration of Joe Biden as US president on Wednesday is looking short-lived as the week comes to an end, with CDS indices once again among the poorer performers -
Financials lead tightening as calm markets greet Biden inauguration
3 years ago
If there is any volatility around the transition on Wednesday to Joe Biden's US presidency, it looks unlikely to come from financial markets, with CDS indices among the better performing assets in an unruffled day -
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 -
Financial CDS plan for CDX IG suffers third rejection
3 years ago
IHS Markit's index advisory committee has once again rejected a proposal to include financial borrowers in the CDX IG index at its next series, a move that would have put it more in line with European counterpart iTraxx Europe -
Jaguar accelerates tighter as CDS indices go their own way
3 years ago
UK carmaker Jaguar is on a rallying run and gathering pace in CDS, despite CDS indices underperforming the more bullish tone in other assets, including bonds
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