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IACPM survey finds credit PMs still gloomy, but less so than last quarter
1 year ago
Respondents to the latest IACPM Credit Outlook Survey are still negative about future credit conditions, but less so than in previous surveys -
Global Loan Highlights 1Q24: Don’t call it a comeback
1 year ago
Loan refinancing share hits historic high, but IG issuance stymies YoY global growth -
Credit PMs remain gloomy in latest IACPM survey
1 year ago
Survey participants in the latest IACPM Credit Outlook Survey believe the euphoria seen in global financial markets during the last few months of 2023 was overdone -
Loan Highlights 3Q23: Loan volumes remain significantly lower than historical averages
1 year ago
Capital markets loan activity continued to struggle in the third quarter of 2023, as issuers in the Americas and Europe held off from tapping markets -
New IACPM survey points to a global recession
1 year ago
Respondents to the latest IACPM Credit Outlook Survey overwhelmingly expect global economies to fall into recession either later this year or sometime in 2024. -
Largarde snowballs puncture complacent calm and shocks spreads wider
2 years ago
Credit markets are ending the week on a big push wider, after European Central Bank chief Christine Lagarde delivered the surprise that had been missing from other central bank messaging -
Major fund withdrawals undermine credit momentum
2 years ago
Credit funds are extending their run of inflows into the end of the year, but investment grade momentum took a dent last week due to investors in one big fund pulling their money -
Rebuke for optimism as US jobs send market bulls running for cover
2 years ago
Investors’ determination to maintain an optimistic outlook on US Federal Reserve policy hit a point of reckoning on Friday, with hot US jobs numbers adding weight to committee members’ message that there is still a lot more work for them to do -
Powell outlook brings risk buyers out in droves, but reality check looks soon to follow
2 years ago
Comments by US Federal Reserve chairman Jerome Powell on Wednesday on the pace of future rate hikes have prompted a sharp rally across global financial markets, including credit. But dissenting voices have already begun to point out the enthusiasm is likely overdone -
Credit Suisse tests investor nerves as market preps for Fed-focused week
2 years ago
Credit Suisse, which has been subjected to another week of intense scrutiny, is heading into the weekend with its credit spreads extending wider, after warning on losses and undertaking a capital hike -
Swiss bank looks to plug holes but investors are hun-gruyere for risk
2 years ago
Credit Suisse is a rare, worrisome cloud in an otherwise brightening sky this week, as Europe extends its tightening trend in credit with the US standing at ease for the Thanksgiving holiday -
Outsized corporate rally puts financials RV in focus
2 years ago
The week is ending with resumption of credit’s recent rally after a brief pause, and Europe once again taking the lead over the US -
European outperformance creates index options trading mismatch: Barclays
2 years ago
The recent outperformance of European credit over US has shifted the value of iTraxx index options, but CDX index volatility premiums stand out for having hit a new low -
Soft mood music abruptly dashed as Fed and BoE rile markets
2 years ago
The credit market’s strong run of improvement has come to an end this week, with the US Federal Reserve and Bank of England delivering a reality check to hopes of a more dovish path forward on interest rates -
Credit pivots sharply as US returns to growth and ECB confirms record hiking cycle
2 years ago
After a wider start, credit markets reversed course Thursday having digested a strong US GDP reading and the European Central Bank lifting its base rate by 75bp – a move that confirms this as the region’s most aggressive ever hiking cycle -
"Ugly" eurozone inflation numbers cap off torrid week for credit
2 years ago
Credit spreads are heading tighter into the weekend, as investors rebalance positions against a backdrop of easing currency pressures but a challenging array of European inflation numbers and a highly charged Brazilian election month about to kick off -
Investors nurse wounds after UK scuppers credit expectations
2 years ago
Financial markets are picking up the pieces on Thursday following an extremely volatile session ignited in large part by UK economic mishap, which sparked fears of a financial crisis and necessitated the central bank’s intervention -
Down in the hole: investors hedge their bets ahead of pivotal Powell
2 years ago
Credit spreads are shifting wider on Friday, after an initial improvement, as investors try to balance positions ahead of what could be a pivotal speech by US Federal Reserve chairman Jerome Powell -
Spreads gap wider with UK inflation adding to cocktail of concerns
2 years ago
Evidence of financial markets hitting a resistance point after three weeks of improvement is growing, with Monday’s bearish shift extending over into early trading Tuesday -
Relief rally extends despite US and EU sending mixed signals on recession
2 years ago
Growth and inflation data on Friday has added impetus for the European Central Bank to maintain a hawkish stance at its September meeting, despite US signals suggesting that economy is in recession -
Italian rout gathers pace as credit relationships warp well beyond historical norms
2 years ago
Renewed selling pressure on Thursday has taken credit spreads back towards the year’s wides, with financial borrowers underperforming as Chinese covid cases, US inflation and a drought in Italy all weigh on sentiment -
Go long duration in consumers and industrials: BofA
2 years ago
The year’s wides still lie ahead in the second half, but China reopening is bullish for consumer and industrial spreads and investors should extend duration in high-quality credit, according to Bank of America strategists -
EU inflation prints frame challenge ahead as horror show first half ends
2 years ago
Financial markets are heading into the weekend with a rare stationary session, but the mood is more one of shellshock than considered positioning, after one of the worst first halves to a year on record -
Europe trades heavier than US as market baulks at new hikes
2 years ago
Credit spreads have resumed their push wider, with European indices once again under more pressure than their US counterparts -
Market jitters mount as US delivers May CPI
2 years ago
Credit spreads have moved sharply wider for the fourth day straight as investors digested the European Central Bank’s hawkish turn and watched with trepidation for the US to reveal its May consumer price index numbers
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