- Direct lending (28)
- Emerging markets (34)
- High yield bonds (125)
- Structured credit (44)
- CLO (39)
- Distressed debt (38)
- Credit derivatives (remove)
- Leveraged loans (47)
- Marketplace lending (16)
- Real assets (23)
Complacency rules after rally in run-up to UK election3 days ago
UK credits rallying was a familiar sight for much of November, mainly due to investors cutting their previous short positions ahead of the country’s 12 December election, but dealers reported little appetite to replace long, short or hedging trades going into the final stretch.
Deep dive trade is on, but single name risks still abound3 days ago
High yield CDS is reversing its previous underperformance versus investment grade, reflecting an investor shift down the quality spectrum in cash bonds.
Fund performance: Long-short funds rule in October as CLO funds struggle3 days ago
A round-up of fund performance
- A round-up of ucits fund performance3 days ago
- A round-up of CLO performance3 days ago
No 2020 recession, cyclical bonds will outperform and CLOs won't crash, says BNP Paribas6 days ago
There will not be a recession in 2020 and investors should stay long credit with the expectation that high yield cyclical and non-financial borrowers will outperform in a bullish market, BNP Paribas strategists have confidently predicted
Corporate credit performance expected to catch up with financial borrowers as European quantitative easing begins1 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 protocol1 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 performance1 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 access
Traders face Monday deadline for manufactured credit event protocol1 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 deadline
Credit traders’ kickstand: UK vote brings profit-taking and corporate catch up1 month ago
Profit-taking has reversed some of the previous outperformance of European financial credits ahead of Saturday’s crunch UK parliament vote on the latest Brexit agreement with the European Union, but UK names continue to trade bullishly as trader concerns about the chances of a no-deal exit on 31 October recede
Reality bites after credit traders abandon Brexit hedges2 months 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 needed
Credit traders' kickstand: curves in focus as market overcomes mid-week wobble2 months 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 names
Credit 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 trade
LCH and Ice prepare to battle it out over options clearing2 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 weaknesses2 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 places2 months ago
CDS traders navigate a much-changed landscape in October, after one of the most impactful index rolls in recent times.
Fund performance2 months ago
A round-up of fund performance
Ucits at a glance2 months ago
A round-up of ucits fund performance
Credit funds at a glance2 months ago
A round-up of fundraising and people moves in credit
Political risk puts December in focus as CDS investors play index volatility2 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 trades
Mediobanca hires former credit derivatives trading head2 months ago
Mediobanca has hired an experienced credit trader to its office in Milan
Go long CLO triple-A and pick cash bonds over CDS, says JP Morgan2 months ago
Going long European CLO triple A paper remains one of JP Morgan strategists’ favourite trades following the European Central Bank stimulus announcement last week, despite these tranches having rallied 14bp on average since the bank first backed them. They also predict cash credit to outperform CDS
China ambitions checked in final roll lists for iTraxx and CDX indices3 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 changes
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