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Triple Bs in the firing line as Fed turns hawkish, says BofA
2 years ago
Triple B and long duration credit are likely to be casualties of tightening central bank policy, Bank of America strategists have warned. But high yield and cyclical investment grade sectors could fare better -
Credit indices hit impasse after US high yield returns to pre-covid tights
2 years ago
Credit improvement looks to be taking a breather on Thursday after the compression play in CDS indices took US high yield index CDX HY to its tightest prints since February 2020, before the outbreak of covid-19 began to blow out spreads -
Focus shifts to macro views amid blurry relative value picture
2 years ago
Relative value trading has become a difficult place to operate in credit, with previously effective strategies such as compression, pairs and basis hard to discern and opportunities difficult to source, according to portfolio managers. -
Single Bs bomb as beta narrative shifts
2 years ago
Few signalled themes in credit have died away as quickly as that of the outperformance of single B rated credit, which several firms proposed at the start of May but soon found crushed by a cocktail of worries around inflation, central bank policy, supply and high yield fund outflows -
Fund performance: CLO funds outperform as two hit over 100% 12-months return
2 years ago
CLO funds swatted away the competition in April on their way to dominating our top 10 credit hedge fund return table after an upbeat month -
Credit hedge funds (June 2021)
2 years ago
Credit hedge fund returns -
Ucits at a glance: Altana sits atop tables as credit bounces back
2 years ago
Ucits funds picked up in April as 79% made positive returns -
Credit bull run picks up amid commodities surge
2 years ago
European credit spreads have made a sharp turn for the tighter, building on last week's strong run, even after Asian spreads weakened on rising commodity costs -
Credit grind makes it five days out of five in bullish week
2 years ago
Credit markets are heading into the weekend on a fifth straight day of improving spreads, amid signs of returning economic confidence and appetite to invest in the asset class -
Financials and high yield outperform as rally gathers momentum
2 years ago
Credit spreads are enjoying a second day of improvement to regain some of the ground they lost last week, with Italian banks, commodity traders and higher yielding borrowers among outperformers in a broad rally of both indices and single name borrowers -
Sell-off regathers momentum as inflation signals mount
3 years ago
A glum mood has returned to financial markets, beginning with the US session on Tuesday and overspilling into global trading on Wednesday -
Financials and high yield corps retrace tighter after inflation shake out
3 years ago
Credit markets firmed up on Tuesday, with European single name CDS finding a chance to recover some ground after Monday's inflation-led weakness. But credit indices underperformed, struggling to return tighter even as stock indices advanced once again and oil prices hit new highs -
Credit underperformance resumes as equity turns corner
3 years ago
Credit markets are pushing wider once again on Wednesday, even though stock markets look to regaining some composure following Tuesday's steep sell off -
Fund performance: Lightning strikes twice as range of credit funds deliver
What seemed like a chance occurrence in February has struck again in March, as seven categories make our top 10 best performing hedge funds -
Credit hedge funds (May 2021)
3 years ago
Credit hedge fund returns -
Ucits at a glance: Altana moves into pole position
3 years ago
March marked a drop in pace for Ucits funds as only 62% of funds made positive returns, compared to 80% in February -
Credit and stocks regain composure on rates as oil hits new heights
3 years ago
Credit and equity markets have improved again on Wednesday morning, after US treasury secretary Janet Yellen's comments about possible rate rises spooked markets on Tuesday afternoon -
M&A drives movers in high yield and investment grade
3 years ago
Acquisition talks are having the biggest impact on European credit spreads on Tuesday following the UK bank holiday, with several names moving against an otherwise flat market -
Banks set to offer client clearing of credit index options
3 years ago
Bank members of LCH, the London Stock Exchange's clearing arm, will soon start offering client clearing of CDS index options, as the industry prepares for its next ramp up of margining requirements -
Tobacco splutters in broad market sell off
3 years ago
Credit and equity are under pressure on Tuesday as markets pull back from their improved levels amid concerns about the worsening global covid-19 picture. But tobacco companies have their own problems to contend with, with the US considering a proposal to require lower nicotine levels in cigarettes and other countries also looking to curb sales -
Lord Abbett prepares special situations interval fund
3 years ago
Lord Abbett is preparing to launch a new special situations fund in the form of an interval fund -
Credit Rendezvous: ready and waiting
3 years ago
In Creditflux's quarterly review of credit, portfolio managers tell us that Inflation is likely to nudge higher but they are optimistic because dispersion will pick up and windows of volatility will emerge, rather than elongated phases of stress -
Credit fundraising: Goldman Sachs direct lending fund takes March figures to $23 bn
3 years ago
Credit funds sprung forward in March as $23 billion was raised alongside $2.6 billion worth of allocations to credit managers. -
"IG investors might want to rethink the instrument, but they need not fear rising rates just yet"
3 years ago
In his latest column for Creditflux, Cheyne's Duncan Sankey writes that the sharp rise in 10-year US treasuries could be positive for investment grade investors, but value is in CDS rather than bonds -
Hermes seeks ESG alpha in companies making changes
3 years ago
Buy-side demand to tick boxes for ESG standards has fuelled a boom in green and social impact bonds that is extending into high yield issuance. But as investment opportunities mount, so does soul-searching about the next phase
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