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It's time for bullish reversal on IG credit to play decompression: JP Morgan
1 year ago
Having been bearish most of the year JP Morgan has changed its view on investment grade credit to neutral, saying value has become too cheap to ignore -
Euro credit woes vs US set to resume with cyclicals shock likely: JP Morgan
1 year ago
Further decoupling lies ahead between euro and dollar credit, despite the recent positioning squeeze, warn JP Morgan credit strategists -
Position cutting tames market rally and strategists warn on primary impact
1 year ago
Caution is the watchword across financial markets on Tuesday, with the strong recent run giving way to hedging and position cutting ahead of a much-anticipated US inflation reading on Wednesday -
Credit lacks 'good answer' on what could cap spread widening: JP Morgan
1 year ago
Without any clear candidates to put a lid on spread widening, investment grade and high yield credit markets look set to extend much wider than current levels, warn JP Morgan strategists -
JP Morgan splits global head of institutional structuring role as it promotes three
1 year ago
JP Morgan has rejigged part of its credit structuring business with a set of promotions for officials who have covered SRTs, CLOs and CSOs as part of cross-asset roles -
LCH extends credit index option product to buy side
2 years ago
BNP Paribas and JP Morgan are the first banks to offer client clearing of credit index options through LCH CDSClear -
Europe leads relief rally with energy and peripheral bank credits outperforming
2 years ago
Credit spreads are making a broad move tighter on Tuesday, with European Central Bank president Christine Lagarde having tried to rein back rate hike expectations and oil company BP posting strong profits -
Brace yourselves for increasing ESG basis in credit
2 years ago
One of the safest bets in credit for 2022 is that ESG focus will intensify, with market participants anticipating a surge of green bond issuance as well as widening spread dispersion between climate leaders and underperformers -
Credit bull run falters as central bank glow abates
2 years ago
Thoughts that the credit market had taken a positive directional shift are turning, after Tuesday’s session has brought a sizeable retracement wider, but credit strategists predict an overall firming of tone into the end of the year off the back of dovish central bank meetings -
Coronavirus delta dilemma puts reflation trades into reverse
2 years ago
Concern over the covid-19 delta variant dented investor optimism in July and looks set to hold back credit spread improvement in August, as focus turns to rising cases in the US and Germany -
Corp hybrid popularity mounts, but strategist outlooks diverge
3 years ago
Corporate hybrid bonds are becoming a focal point for investors in the second quarter, with one bank's credit strategy team making them a top pick to trade spread compression while another's has expressed caution on their likely performance -
TRS goes electronic on Tradeweb with iBoxx trade
3 years ago
Tradeweb Markets has completed what it says is the first ever fully standardised total return swap trade based on IHS Markit’s iBoxx US Dollar Liquid High Grade index -
ESG growth in CLOs has momentum in 2021, say JPM strategists
3 years ago
ESG investing in securitised products such as CLOs have 'momentum for growth in 2021' despite very slow volume growth and lack of progress in standardised scoring over the past year, say JP Morgan strategists in a research note -
The tranche market shines, whatever your view on credit
3 years ago
Index tranche volumes have reached record levels this year and CSOs have withstood the covid crisis. Panellists at the Credit Dimensions webinar outlined a range of trades in a thriving market -
Dealers power up as tranche trading hits new heights
3 years ago
A big year for index tranche trading has taken volume within grasping distance of full-year 2019, a post-financial crisis record, with a deepening pool of dealers adding support -
Former JP Morgan credit correlation head launches $200 million fund
3 years ago
The former head of credit correlation trading at JP Morgan has launched a global credit fund management business with $200 million of assets, according to market sources -
US swaps rule relaxation brings underperformance of bank CDS
3 years ago
US Federal Reserve changes to the Volcker rule has caused bank stocks to surge, but credit market perceptions are less positive -
Dealers zero in on pair of managed CSO formats
4 years ago
The eagerly awaited introduction of ‘managed’ CSOs is getting closer, with hopes still alive for an inaugural deal before the end of March and consensus forming around two alternative approaches. -
Oil supply concerns grease CDS relative value trade
4 years ago
With credit spreads having begun 2020 circling post-crisis tight prints, there is not much room across the market for improvement and plenty of susceptibility to jitters. But at least one CDS index shows scope to narrow further and could form part of a relative value trade -
CSO arrangers look to build on $65bn of issuance in 2019
4 years ago
The synthetic bespoke tranche market this year has fallen short of expectations in terms of overall issuance volume, but ends with transformative inroads being made. -
CLO supply set for double-digit drop in 2020, says JP Morgan
4 years ago
US CLO supply in 2020 will be as much as 20% down on 2019, while European issuance will fall 13% year-on-year, predict JP Morgan strategists in a research note. Even so, new CLOs should still outpace existing deal paydowns, as well as high yield primary market net new issuance -
Reality bites after credit traders abandon Brexit hedges
4 years 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 -
Arrival of five-year bespokes draws in CLO investors
4 years ago
Synthetic bespoke tranches are undergoing a major shift, with dealers projecting five-year business to supersede previously dominant shorter tenors by the end of 2019. -
Bespoke gains pull CLO buyers as market tipped to hit $100bn
5 years ago
Synthetic bespoke issuance could catch up with the more visible CLO market this year, say structured credit specialists -
Tabula launches ETF to capture iTraxx Crossover and CDX HY volatility premia
5 years ago
Tabula Investment Management, a European fixed income exchange traded fund (ETF) provider, has launched a product aimed at capturing the volatility premium embedded in index options on iTraxx Crossover and its US counterpart CDX HY
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