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Retailers, travel cos and Italian banks lead charge as market rally accelerates
1 year ago
Retail companies have been resurgent on Thursday as the credit market’s relief rally gathered pace, with Europe seeking to catch up with the US following its strong surge -
Bespoke bond baskets on the rise as investors seek targeted portfolio trades
1 year ago
High yield index replication and accessing illiquid exposure are two factors building momentum for a new investment approach that bundles bonds into a single risk piece -
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 -
Credit off to stronger start as dollar longs get squeezed
1 year ago
Financial markets are off to a better start this week, with risk assets repairing some of their recent damage as the US dollar eases back from the highs it has hit against other currencies -
Credit fund bleed out looks hard to stem, as hawks ignore macro gloom
1 year ago
Ever more investors are running to safety as risk assets tally up another rough week, with strategists warning there is no end in sight for credit fund outflows while central banks hold their course on rate hikes -
Bond / CDS basis in play as heavy market rout extends
1 year ago
The rout of financial markets has resumed at pace on Thursday, with sizeable moves that add to relative value disparities between cash and synthetic credit -
US retailers hit hard as inflation and dollar spark big sell-off
1 year ago
Inflation worries and a strengthening US dollar have once again upended the credit market’s fragile confidence, taking spreads on a violent lurch wider with the US underperforming Europe -
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 -
European markets give up some gains after outperforming US
1 year ago
Credit and stocks have improved on Tuesday, as investors attempted a momentum shift, but Europe is already giving up some of its gains after outperforming the US for a brief spell -
Investors hold tight amid Chinese slowdown and Nordic affront to Russia
1 year ago
Financial markets are opening the week on a cautious tone, as Chinese economic data weakens the global growth outlook and new Nato applications intensify the stand-off with Russia -
Credit retreats from wides, but worrisome test levels remain in view
1 year ago
Another rocky week for markets is ending with credit finding a firmer tone. But big questions remain unanswered about relative value and the levels some sectors could test -
Europe feels Arctic chill while currency and tech woes add to fear
1 year ago
European markets have again taken a bearish turn on Thursday, with Finnish Nato aspirations, the strengthening US dollar, persistent inflation and slumping tech stocks adding to investors’ deepening dismay -
Credit and equity retreat from extremes but oil slumps further
1 year ago
Financial markets are mounting a tentative recovery on Tuesday, having been hammered to new bearish extremes at the start of the week -
Stalling growth engines leave market in deeper turmoil
1 year ago
Financial markets are starting the week in another heavy slump, with credit hitting new wides as various asset classes take a beating from economic growth fears and the prospect of a recession in Europe -
Post-Fed volatility prompts stark reassessment of credit relative value
1 year ago
Central bank policy moves have caught markets off-guard, with volatility ensuing and spreads hitting new wides -
"Derivative longs versus cash corporate shorts looks attractive, especially if we see a market sell-off"
1 year ago
Technicals are keeping cash credit spreads tight, but as central banks reduce purchases there will be relative value opportunities -
US / European high yield compression trades win as Fed unveils new hiking regime
1 year ago
The remarkable recent outperformance of US credit derivatives index CDX HY has reached a key juncture, with reaction to the Federal Reserve's announcements causing it to trade inside European counterpart iTraxx Crossover -
Fund performance: Credit bounces back from February blues
1 year ago
March performance figures were a slight improvement from the market turn in February; 47% of funds made positive returns, an increase on 17% the previous month -
Credit hedge funds (May 2022)
1 year ago
Credit hedge fund returns -
Ucits at a glance: Robus stands tall among Ucits funds
1 year ago
27% of Ucits funds had positive returns in March, a slight improvement from 10% in February -
Dispersion begets dispersion in mixed bag of fund returns
1 year ago
Idiosyncratic risks are set to rise in credit, with fund managers becoming occupied with tail risks, and that has been seen in a scattered set of March hedge fund returns -
Credit Rendezvous: Pass masters
1 year ago
Most often, a credit market downturn has its roots mired in one big, blatant obstacle that credit managers have to focus their attention to overcome. But right now, it’s not the dominant risk factor that has to be defeated, it’s the sheer number of them... -
SEC's CDS proposals could impede market rather than help it: Barclays
1 year ago
New rules proposed by the US Securities & Exchange Commissions to tighten oversight of the CDS market could mean big changes for the market and have the effect of sapping activity, warn Barclays credit strategists in a note published on Thursday -
Tech and supply chain concerns take credit back to year's wides
1 year ago
A cocktail of bearish signals has taken credit markets back to their widest levels since March, with Tuesday's sell off spilling over into the Wednesday session -
Winton hires quant credit specialist as PM
1 year ago
Winton, a London-headquartered asset management firm that specialises in quantitative strategies, has hired an experienced trader to focus on credit alpha capture
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