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Hedge against coronavirus, says JP Morgan, naming 40 most exposed credits
4 years ago
With novel coronavirus cases rising at what looks to be an exponential rate, JP Morgan strategists have proposed a high yield hedge to address the rising threat to European credit spreads and listed 40 borrowers they think are most exposed to impact -
Volcker amendments will be good for CLO equity and bad for CLO debt, says Wells Fargo
4 years ago
Proposed changes to the Volcker rule announced last week by the Federal Reserve, which would allow CLO managers to hold 5% bond buckets, are positive for CLO equity and ‘marginally negative’ for CLO debtholders, according to a research paper from Wells Fargo -
Investors increasingly see ESG as fiduciary duty, State Street survey reveals
4 years ago
North American investors are most likely to view ESG as a fiduciary duty, while European investors are driven by regulation, performance and reputational risk, according to results from a survey conducted by State Street Global Advisors -
Boeing/Airbus dogfight widens spreads as WTO ruling exposes Europe's trade weaknesses
4 years 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” -
Political risk puts December in focus as CDS investors play index volatility
4 years 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 -
Go long CLO triple-A and pick cash bonds over CDS, says JP Morgan
4 years 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 -
Four sectors most favoured by bullish resumption of QE, say BAML strategists
4 years ago
Autos, healthcare, media and real estate bonds are likely to be the biggest initial beneficiaries if the European Central Bank reinvigorates its corporate sector purchase programme (CSPP) next week, say Bank of America Merrill Lynch credit strategists -
Buy iTraxx Europe equity tranche risk but sell Crossover mezz, says JP Morgan
4 years ago
Investors should stick with ‘search for yield’ ideas in investment grade credit, say JP Morgan credit strategists, including selling iTraxx Europe 0-3% equity tranches delta hedged, going long the 10-year Europe index, and selling credit volatility through index options while buying equity market volatility -
Credit pickers will win as high yield spreads widen in 2019, predicts Citi
5 years ago
After a volatile 2018 in the credit derivatives market, there are reasons to be optimistic this year for the best credit pickers, according to Citi’s global credit derivatives outlook -
Managers plan to lower fees after holding steady for two years, survey finds
6 years ago
More than one-fifth of US-based investment managers said they planned to lower their fees in 2017, according to the Callan Institute’s 2017 Investment Management Fee Survey -
Heading tighter into uncertainty
7 years ago
Tightening loan spreads are making the job of a CLO manager harder in both the US and Europe. But credit volatility could be on the horizon -
Barclays snaps up seasoned credit researcher in London
8 years ago
credit analyst leaves European lender after 10 years for UK rival -
CDS volumes are down but liquidity levels are healthy, finds Barclays
8 years ago
Single name CDS trading is down 30% on average, but there is more to the story, finds Barclays research -
Gimme Credit announces push into emerging market credit research
8 years ago
Credit research provider Gimme Credit has announced the launch of a service to provide recommendations on emerging market bonds. -
European high yield set to go tighter, says Credit Suisse
9 years ago
European high yield credit may be set for a reversal in fortunes following its recent underperformance versus sovereign bonds plays out, say analysts at Credit Suisse. -
High yield mutual funds continue to see outflows
9 years ago
Lipper research shows retail money exiting high yield in both US and Europe -
Swiss asset manager hires high yield analyst from ECM
9 years ago
Senior credit analyst leaves London for Geneva for high yield analyst role -
Deutsche Bank’s asset management arm hires senior credit analyst
9 years ago
High yield and leveraged loans analyst exits Canadian broker for buy-side role -
Head of research is latest exit from US credit hedge fund manager
9 years ago
Fund manager loses credit research head amid spate of departures -
Credit hedge fund manager hires senior analyst from Pimco
10 years ago
Credit research analyst switches West coast buy-side firms -
HSBC hires senior credit analyst in London
10 years ago
HSBC hires senior credit analyst from rival dealer -
Deutsche Bank desk credit research head switches to rival dealer
10 years ago
Credit analysis head switches banks in New York -
Senior credit strategist switches European banks in London
10 years ago
Former head of European credit strategy at German bank joins French bank in London -
Market fails to price in Telecom Italia downgrade, says BNP Paribas
10 years ago
BNP Paribas research says investors are not being compensated for the risk Telecom Italia will lose its investment grade status -
Credit strategist makes move to sell-side role
10 years ago
Former head of research at insurer takes chief credit strategist role in Australia
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