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Financials lead tightening as calm markets greet Biden inauguration
1 day ago
If there is any volatility around the transition on Wednesday to Joe Biden's US presidency, it looks unlikely to come from financial markets, with CDS indices among the better performing assets in an unruffled day -
Italian spreads signal Conte confidence ahead of Senate vote
2 days ago
Italian banks are among the best performers in credit on Tuesday as hopes rise for a vote of confidence in prime minister Giuseppe Conte's government and the CDS market returns to tighter spreads -
Comment: Europcar auction dented short-sellers but not CDS
3 days ago
Far from showing the CDS market is not fit for purpose, last week's Europcar Mobility Group credit event auction was a lesson that speculative short selling is a dangerous ploy - especially when the trade is crowded -
Financial CDS plan for CDX IG suffers third rejection
7 days ago
IHS Markit's index advisory committee has once again rejected a proposal to include financial borrowers in the CDX IG index at its next series, a move that would have put it more in line with European counterpart iTraxx Europe -
Europcar CDS auction shocks protection buyers with zero pay-out
8 days ago
Wednesay's auction to settle Europcar Mobility Group CDS has left protection buyers on the company with nothing to show for their investments and hedges, after dealers produced an unexpected 100% recovery on contracts due to a technical mismatch in bids and orders -
Europcar sets course for high recovery in 2021's first credit event auction
8 days ago
An auction to settle CDS referencing Europcar Mobility Group has generated an initial market midpoint of 73.5 cents, implying the pay-out to protection buyers could be only 26.5 cents - much lower than five-year CDS contracts had implied -
Jaguar accelerates tighter as CDS indices go their own way
9 days ago
UK carmaker Jaguar is on a rallying run and gathering pace in CDS, despite CDS indices underperforming the more bullish tone in other assets, including bonds -
Europcar CDS auction to include loan deliverables following challenge
9 days ago
An auction tomorrow to settle CDS contracts referencing Europcar Mobility Group will include a term loan facility agreement as a deliverable obligation, following a challenge to the initial list -
LCH reports 60% growth in CDS clearing
10 days ago
LCH, the central clearing house of London Stock Exchange Group, has reported growth in clearing of index, option and single name CDS during 2020 -
Primary weighs as pain contributor in credit slump
10 days ago
Credit is beginning the week on uncertain footing with spreads widening on worries about covid case numbers in Europe and investors trying to size up the scale of primary market activity in the coming weeks -
Europcar auction faces challenge with tight turnaround
10 days ago
The Emea Determinations Committee has little time to settle a challenge on Europcar Mobility Group deliverable obligations if an auction to settle CDS contracts referencing the defaulted French vehicle hire firm is to take place on time this week -
Full circle for credit as investors navigate stormy year-opener
13 days ago
Credit is ending 2021's politically tumultuous first week tighter in cash bonds and flattish in CDS spreads, but performance has noticeably lagged more emphatic improvements in stocks, commodities and the record-hitting Bitcoin -
Bet on beta compression - except in sub fin CDS, say BofA strategists
14 days ago
Beta compression will be a dominant theme in 2021 for high yield versus investment grade CDS and bonds, financial versus non-financial credit and subordinated versus senior financial bonds, say Bank or America strategists in a research note. Short volatility positions are also attractive, they add, while cautioning sub versus senior financial CDS could buck the trend -
High yield has primary bonds more than Georgia on mind in third day of underperformance
15 days ago
European high yield credit is on a run of underperformance as the first signs of primary market bond issuance appear, with spreads widening for a third day straight against improvement in other asset classes -
Disconnect as credit sells off as stocks and oil strengthen
16 days ago
Credit is a big underperformer today versus stocks, with the sell off that began yesterday afternoon starkly at odds with the positive tone with which the week began -
Financials lead as credit opens 2021 with optimism
17 days ago
Financial credits, and particularly banks, are among the big movers today with the market having opened 2021 in buoyant mood following agreements on a Brexit deal and US stimulus package -
Sharp reversal for banks, travel and commodity firms as EU shuts borders
1 month ago
About a month's worth of improvement in high yield credit spreads - and nearly two months in investment grade - has been wiped out today, with European countries banning flights from the UK and Brexit talks missing a key deadline -
Europcar CDS auction date set
1 month ago
The Emea Determinations Committee has set a date in January to settle CDS referencing Europcar Mobility Group -
Credit sell off gathers pace ahead of Brexit crunch day
With both sides in the EU-UK negotiations conceding that trade talks are most likely to conclude on Sunday without an agreement, credit is again a big underperformer today as more longs cut and run while hedging picks up -
Big push wider in high yield as traders cut their longs
1 month ago
Europe's iTraxx Crossover CDS index has given up a big part of its recent rally today, underperforming other indices amid signs traders are closing up books early for the end of the year -
Europcar triggers first credit event in Crossover series 34
1 month ago
Europcar Mobility Group has triggered a failure to pay credit event, the Emea Determinations Committee has ruled -
Index sell off hits at start of busy week for primary
1 month ago
Credit is stumbling into the week, with a widening of index spreads that noticeably underperforms stock markets -
LCH starts clearing US credit index options
1 month ago
LCH, the central clearing house of the London Stock Exchange Group, has expanded its CDSClear service to clear US credit index options -
No auction needed for Zambia CDS, says DC
1 month ago
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 -
ECB stimulus hopes bolster high yield outperformance
1 month ago
Spread compression has picked up again, with European high yield taking the lead as expectations mount for another round of European Central Bank stimulus at its meeting next week
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