Credit Suisse slumps in bleak Monday, but high yield name sharply bucks trend
Financial markets are beginning the week on an uncertain footing, with anti-covid lockdown protests in China hitting commodity prices hard. But one European high yield company has bucked credit’s widening push with a massive rally

Telco bucks market trend with relief rally
United Group, the Balkan-focused, Netherlands-registered telecom group, rallied sharply in credit markets on Wednesday after the company addressed how it would meet approaching debt maturities

Russia auction prep on pause after last minute scramble
The Credit Derivatives Determinations Committee has put on pause its preparation for a credit event auction to settle Russian Federation CDS, amid reports the country has made good on sovereign debt payments right at the wire

Heavy mood greets Europe’s return as earnings and rates policy weigh
The European market on its return after the long weekend is greeted with another sizeable push wider in spreads, with focus on US Federal reserve policy, this week’s round of corporate earnings and the prospect of US 10-year inflation linked bond yields turning positive for the first time in two years

Russia extends rally as DC rules against repudiation / moratorium
Russian Federation CDS contracts rallied strongly for a second day on Thursday, after the Credit Derivatives Determinations Committee ruled a repudiation / moratorium had not occurred on the country's sovereign debt

No auction needed for Zambia CDS, says DC
Investors will have to physically settle Republic of Zambia CDS as there are not enough contracts outstanding to merit a credit event auction, the Emea Determinations Committee has ruled

Fund performance: CLO tranches move up
April returns managed a partial bounce back after a tumultuous March. 82% of funds listed in the Creditflux database made positive returns, showing at least small signs of recovery after 90% of all funds listed posted negative returns in March

Mirabaud to launch emerging debt fund with fixed term
Mirabaud Asset Management has announced the setup of a new fixed maturity emerging markets debt strategy, available for euro-based investors