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Corporate credit performance expected to catch up with financial borrowers as European quantitative easing begins
1 month ago
The return of European Central Bank quantitative easing on 30 October portends a catch up this month of corporate credit performance with other parts of the market, such as financial borrowers, say strategists.Over 1,200 sign up to CDS protocol
1 month ago
Plans to improve CDS market integrity have received a boost, with the International Swaps & Derivatives Association drawing a stronger than expected response to its protocol aimed at stamping out narrowly tailored credit events (NTCEs).Fund performance
1 month ago
A round-up of fund performance click here.Credit traders' kickstand: QE and dispersion sever 'haves' from 'have nots'
1 month ago
The underperformance of European high yield credit has picked up this week, on rising concerns about dispersion in funding accessTraders face Monday deadline for manufactured credit event protocol
1 month ago
Interested parties have until Monday to sign up to a protocol aimed at stamping out narrowly tailored credit events from the CDS market, with the International Swaps & Derivatives Association having given extensions on the original deadlineReality bites after credit traders abandon Brexit hedges
1 month ago
Rediscovered faith in the ability of the UK and European Union to reach an agreement before the 31 October Brexit deadline has helped fuel a surge tighter of credit spreads, led by UK financial names. But that break with caution faces an immediate reality check today, following admissions a lot more work is neededCredit traders' kickstand: curves in focus as market overcomes mid-week wobble
1 month ago
Credit markets have had a more positive week overall than last, and that was given a couple of extra twists today by UK/European Union and US/China talks. But this masks weakness mid-week and, following a brief steepening of curves, improvement is mainly exhibited by financial sector namesCredit traders' kickstand: trade troubles threaten volatility "sooner than you think"
2 months ago
Most of the credit market goes into the coming week in a more nervous mood than it began this week, with hopes for the resuming US-China trade talks tempered by the US’s opening of a new front with Europe on tradeLCH and Ice prepare to battle it out over options clearing
2 months ago
A fully cleared market for CDS options is getting closer, with the two largest central clearing counterparties (CCPs) set to expand their services.Boeing/Airbus dogfight widens spreads as WTO ruling exposes Europe's trade weaknesses
2 months ago
The World Trade Organisation’s go-ahead for the US to impose $7.5 billion of tariffs on imports from the EU has sent credit spreads sharply wider. And, according to latest credit research from Bank of America Merrill Lynch, it exposes Europe’s “Achilles heel”Roll week leaves CDS in strange places
2 months ago
CDS traders navigate a much-changed landscape in October, after one of the most impactful index rolls in recent times.Fund performance
2 months ago
A round-up of fund performanceUcits at a glance
2 months ago
A round-up of ucits fund performanceCredit funds at a glance
2 months ago
A round-up of fundraising and people moves in creditPolitical risk puts December in focus as CDS investors play index volatility
2 months ago
Selling implied volatility has been prominent among CDS investors since last month’s iTraxx and CDX index rolls, says BNP Paribas in a research piece, with December a popular point of focus for tradesChina ambitions checked in final roll lists for iTraxx and CDX indices
2 months ago
The index roll lists for iTraxx Europe, iTraxx ex-Japan and CDX EM, have all undergone a rethink since IHS Markit published provisional lists earlier this week, with final lists showing name changesDraghi sends European credit to 2019 tights, as Trump demands Fed response
2 months ago
European investment grade credit – and particularly the financial sector – surged tighter today as European Central Bank president Mario Draghi, in the penultimate meeting of his reign, unveiled a ‘whatever it takes’ stimulusUS spreads reconverge on Europe as traders hold breath for ECB
2 months ago
Credit markets are finely poised ahead of today’s meeting of the European Central Bank in Frankfurt today, with some positivity around US-China tariff talks allowing US spreads to gain ground as European expectation remains tempered by German recession fearsiTraxx and CDX roll provisional lists reveal effects of index overhauls
2 months ago
Eagerly awaited provisional lists are out for this month’s index CDS rolls, with big changes signalled across iTraxx and CDX productsCDS data snapshot: central bank positioning and index rolls drive flows
2 months ago
Welcome to the inaugural run of what will become a weekly insight into credit derivatives trading. Each week, Creditflux will highlight trends and dynamics from most recently available market data. We welcome feedback on measures of the market readers would like to see here in futureCredit traders' kickstand: Financials lead compression as pre-ECB and index roll bulldozers flatten spreads
3 months ago
Caution does not appear to be an operative word in financial markets ahead of next week’s key European Central Bank meeting, with financial names leading the way as credit spreads return to this year’s tightest levels and stocks ascend towards post-crisis peaksCredit funds at a glance
3 months ago
A round-up of fundraising and people moves in creditFund performance
3 months ago
A round-up of fund performanceCredit traders' kickstand: Europe ascendant as high yield pipeline returns
3 months ago
The high yield bond primary market grinds back into gear this week just as European credit reaches an extreme point of outperformance over the US, and comes on the back of Europe’s busiest week of investment grade issuance in 18 monthsCredit traders’ kickstand: it’s a tough time to go short
3 months ago
Credit derivative indices are ending the week back at very tight levels, with a re-convergence of spreads, with little appetite to bet against presumed central bank dovishness or the upcoming CDS rolls in September
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