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DC sets Wirecard CDS auction date, obligations and settlement terms
3 years ago
The Determinations Committee for Europe, Middle East and Africa has set a date to settle CDS contracts referencing German digital payments company Wirecard -
Europe hits post-covid tights on hard-fought recovery package deal
3 years ago
European credit spreads are hitting their tightest prints since the coronavirus outbreak began, with European Union leaders having agreed a €750 billion recovery package following protracted talks -
Chesapeake auction delayed over convertibles question
3 years ago
A credit event auction to settle Chesapeake Energy Corporation CDS has been postponed for at least two weeks while the Determinations Committee seeks clarity on status of the company's convertible bonds -
Chesapeake auction could face delay over convertible conundrum
3 years ago
A credit event auction next week to settle Chesapeake Energy Corporation CDS could be postponed as uncertainty hangs over the status of the company's convertible bonds -
Wirecard CDS auction set to have two deliverables
3 years ago
Two notes look set to be deliverable into an auction to settle Wirecard CDS, according to an initial list published by the EMEA Determinations Committee -
Shot in the arm for US credit as vaccine results prompt outperformance
3 years ago
US credit markets have gained a chance to catch up with European improvement this week, after positive results from a coronavirus vaccine test prompted US outperformance, particularly in high yield -
Atlantia enters fast lane in market rally
3 years ago
Atlantia, the Italian infrastructure company, is one of today's biggest movers in the credit market, on reports of progress in its wrangle with the Italian government over a toll road concession as well as plans to sell this business arm -
US/Europe gap widens as states roll back reopening plans
3 years ago
Decoupling of US and European performance is the stand-out feature of credit this week, in which fears of a pandemic second wave and further US/China wrangles hold market improvement in check -
Wirecard splits DC on auction vote
3 years ago
Wirecard has caused a split at the Determinations Committee, whose members only narrowly reached a supermajority vote to hold a credit even auction for the German digital payments company -
Chesapeake deliverables point to big pay-out on CDS
3 years ago
An initial list of deliverable obligations to settle CDS referencing Chesapeake Energy Corporation at auction points to a pay-out of over 97 cents to protection buyers - higher than where five-year contracts are priced -
Chesapeake CDS auction date set
3 years ago
Dealers have set a date to settle Chesapeake Energy Corp CDS, in what will be the thirteenth credit event auction of 2020 -
California Res auction brings 99 cent problem for CDS protection sellers
3 years ago
An auction to settle CDS referencing California Resources Corp has settled at just 1.125 cents, meaning a 98.875 cents pay-out to protection buyers -
Tabula launches ETF to short US high yield credit
3 years ago
Tabula Investment Management, a fixed income exchange traded fund (ETF) provider, has added a product that offers short position exposure to North American high yield corporate credit -
Selecta Group CDS gets caffeine jitters
3 years ago
Against a general rallying trend in the European high yield market, Swiss coffee machine vendor Selecta Group is a big widener today in five-year CDS - even as its bonds and shorter tenor protection show much more stability -
Europe leads opening rally, with Asian boost to autos, banks and commodity traders
3 years ago
A bullish tone in Asia around the economic recovery from the coronavirus pandemic has carried over into the rest of the credit market at the start of the week, taking European spreads tighter and pointing to a solid opening for the US after its long weekend -
Europe outshines US despite caution on inflows and second wave
3 years ago
A week characterised by lower volatility and awash with returning European high yield issuance is ending on a cautious tone, with the US market on holiday and 'second wave' covid concerns bringing a pause to the credit rally -
2020 is a massive opportunity for change - and clinging to past achievements won't wash
3 years ago
Statues don’t serve much of a purpose. It’s time to move on — and credit investors can and should be part of the movement -
Curves and skews come back into play as CDS volumes swell
3 years ago
The rapid growth of the CDS market during the coronavirus pandemic has been consolidated in the second quarter, with investors putting on trades not seen in such volume since the 2008 financial crisis. -
High yield borrowers face pressure over social data
3 years ago
Two major themes of the credit market in 2020 are on a collision course: high yield issuers playing catch-up after a dearth of issuance and the Black Lives Matter movement putting the focus on the S of ESG investing -
Index tranche volumes go into overdrive as CSOs stall
3 years ago
CDS index tranche trading has gathered pace during the coronavirus pandemic, putting the asset class on course for a post-2008 crisis record. -
European ESG index kicks off 10bp tighter than parent index
3 years ago
A new version of the iTraxx Europe index screened for environmental, social and governance standards began trading three months after its intended roll-out was delayed by coronavirus volatility -
Wide-end credits sharply diverge in firming market
3 years ago
In an overall flattish market, Selecta Group and Novafives are today's standout big movers in European high yield credit, but are on very different trajectories -
Wirecard triggers first European CDS credit event of 2020
3 years ago
Wirecard has triggered a bankruptcy credit event, the Determinations Committee has ruled, making it the first European CDS name of 2020 to require settlement at auction -
DC agrees to rule on Wirecard, putting Europe's first 2020 CDS auction in sight
3 years ago
The European CDS market is moving closer to facing its first CDS auction of the year, with the Determinations Committee agreeing to rule on whether the German digital payments firm has triggered a bankruptcy credit event -
Chesapeake default takes CDS auctions to eight-year high
3 years ago
Chesapeake Energy has been confirmed as the latest CDX HY index constituent to require settlement at auction, after the Americas Determinations Committee ruled it has triggered a bankruptcy credit event
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