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European high yield converges on US as credit pushes wider
3 years ago
A worrisome week is ending with spreads pushing to new local wides and underperformance of European high yield versus US credit -
Spreads gap wider as slowdown fears sink in
3 years ago
Concern over the gathering coronavirus second wave, economic slowdown and the need for further central bank interventions has pushed credit spreads sharply wider, with yesterday’s US late session downturn spilling over to Asia and Europe -
Banks regain composure to lead rallying charge
3 years ago
Financial names are among today's outperformers, reversing the trend of the early part of this week, as credit spreads return tighter -
Curves steepen as roll shifts risk from the front end
3 years ago
CDS index curves have steepened with the September roll, with the reformulation of iTraxx and European portfolios having a noticeable impact on the front end of the curve -
Index roll brings sea change for US/Europe relative value
3 years ago
The roll of CDS indices to new series has shifted relative value measures between Europe and the US, with CDX indices trading in a tighter context to their new iTraxx counterparts -
Fallen angels and financials feel heat as CDS indices roll
3 years ago
CDS indices are rolling into new contracts today, with outgoing series of iTraxx Europe and Crossover widening sharply from the market’s open on technical as well as fundamental factors -
Green credit advocate launches research body
3 years ago
Stockholm-based portfolio manager and green credit advocate Ulf Erlandsson has today announced the launch of research body Anthropocene Fixed Income Institute (AFII) -
Credit retreats from tights as central banks offer reality check
3 years ago
European credit is following Asia wider today, picking up from where the US left off yesterday as the Federal Reserve vowed to keep overnight rates near zero for the coming years -
Pictet launches unconstrained global credit fund
3 years ago
Pictet Asset Management has launched a new global credit Ucits fund, Pictet-Strategic Credit fund -
Cautious open sets credit at odds with equity
3 years ago
A positive open to the week for European stock markets is not reflected in cautious credit trading, with spreads generally flat to slightly wider -
Credit spreads see-saw as US tech slump puts market in reverse
3 years ago
A sharp about-face in sentiment, driven in part by US tech sector weakness, has put credit markets back to more or less where they began the week - having hit new post-covid tights in between -
HY rallies as curve steepening picks up
3 years ago
Credit spreads may have normalised since the March/April peaks of the coronavirus sell-off, but relative value investors are still finding a wide array of trading dislocations beneath the headline numbers -
Financial CDS move points to relative value boost
3 years ago
The credit derivatives market could take an important step towards greater versatility with the 21 September roll, as participants again consider whether to begin including financial names in the CDX IG investment grade index -
Credit hedge funds (September 2020)
3 years ago
Monthly credit hedge fund tables -
Ucits at a glance: Five funds lift YTD returns above 5%
3 years ago
Five funds have managed to pull their year to date figures above 5%; Loomis Sayles (7.50%), Algebris (5.82%), Pictet (5.53%), Amundi (5.36%) and Advent (5.11%) -
Credit funds at a glance (September 2020)
3 years ago
A round-up of fundraising and people moves -
Fund performance: Almost a third of credit funds reach positive YTD returns
3 years ago
July has been a successful month for many credit funds, despite the recovery peaking in May and June -
CLO funds top rankings, but still have ground to make up
3 years ago
CLOs may have taken a hammering in March but, for the fourth consecutive month, funds that invest in these assets dominate our ranking of the top performing credit funds -
Push tighter takes credit indices back to pre-March levels
3 years ago
Credit markets are hitting new tights this week, with European spreads today following the example set by the US on Monday -
Credit fundraising: distressed keeps in favour but CLO ETFs emerge
3 years ago
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies -
BlueCrest goes live on CDSClear with index trade
3 years ago
Fund manager BlueCrest has signed up to LCH clearing service CDSClear and has run its first index trade through the central clearing counterparty -
US financial CDS basket plans dropped for September
3 years ago
Plans to develop trading of US financial CDS have hit a second set-back, after several CDX IG committee members said they are not ready to begin including these in the index at the September roll -
Credit hits new tights as US covid treatment fuels hope
3 years ago
Credit markets are starting the week on a strong tone much as they traded on Friday, as optimism for a US approved coronavirus treatment and the Federal Reserve's Jackson Hole virtual meeting on Thursday outweighed concern about rising European covid-19 cases -
High yield inflows return as appetite moves to long end
3 years ago
A heavy slant in preference for investment grade credit has been underscored by high grade funds recording their 20th week of inflows in a row, but high yield funds are also back to positive flow for the first time in three weeks on returning European appetite -
Changes in scope for CDS indices and tranches ahead of roll
3 years ago
Structural changes look to be afoot globally for CDS indices and tranches ahead of the September roll, with IHS Markit weighing amendments to products in all three traded regions
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