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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 -
California Res deliverables list points to 98 cents CDS pay-out
3 years ago
Three bonds have made it onto the final list of obligations to settle CDS referencing California Resources Corp, which triggered a failure-to-pay credit event earlier this month -
Chesapeake bankruptcy points to hit for CDS and loan holders
3 years ago
Chesapeake Energy looks set to become the latest in a string of defaults to hit US high yield index CDX HY, after the Oklahoma City headquartered shale producer filed for chapter 11 protection -
Wirecard bankruptcy credit event question put to DC
3 years ago
Wirecard, the German digital payments company at the centre of a €2.1 billion accountancy scandal, has been posed as a bankruptcy credit event to the Determinations Committee for Europe, Middle East and Africa -
Lufthansa spreads guided down after heavy turbulence
3 years ago
A volatile week for Deutsche Lufthansa is ending with spreads tighter, after shareholders came around to backing a German government bailout -
US swaps rule relaxation brings underperformance of bank CDS
3 years ago
US Federal Reserve changes to the Volcker rule has caused bank stocks to surge, but credit market perceptions are less positive -
Algebris leads monthly returns in new world matrix
3 years ago
Algebris Macro Credit's return submission for May was among the best non-CLO/ABS fund performers out of those Creditflux tracks, adding to a strong turnaround for the strategy -
Ouch it Hertz! CDS auction result hits index and protection sellers
3 years ago
Hertz Corporation CDS has been settled at auction at 26.375 cents, much lower than protection sellers might have hoped for only last week. But the final price was slightly better than initial bidding signalled -
VW gives EuropCar a lift
3 years ago
EuropCar is one of the biggest movers in the credit markets today, on reports that German carmaker Volkswagen is in talks to buy the French car rental firm -
Pimco stands alone in Hertz CDS tussle as recovery hopes fall
3 years ago
The Americas Determinations Committee has resolved a challenge on Hertz Corp deliverable obligations in time for tomorrow's credit event auction. But it was not a unanimous decision, with Pimco voting against other members -
Lufthansa climbs as shareholder airs bailout grievances
3 years ago
Deutsche Lufthansa is among today's biggest underperformers in credit and stock markets, as a battle brews with its largest shareholder over the terms of a €9 billion government bailout for the airline -
DC rejects Valaris credit event request
3 years ago
The Americas Determinations Committee has rejected a request to rule on whether UK headquartered offshore driller Valaris has triggered a restructuring credit event -
Hertz CDS widens sharply ahead of auction with DC challenge unresolved
3 years ago
The Americas Determinations Committee has extended its deadline to resolve a challenge to obligations for next week's Hertz Corp CDS auction -
Bond and CDS surge caps remarkable chicken run for Boparan
3 years ago
Boparan, the UK-based restaurant group and chicken supplier, has surged tighter in bonds and CDS today, capping a remarkable turnaround in recent months for a company that had long been one of the riskiest in the European high yield universe before the coronavirus outbreak -
US jitters set in ahead of monthly options expiry
3 years ago
A gap has opened up again in the performance of European credit versus US ahead of this month's CDS options expiries, after a shakier trading session in New York yesterday -
CLOs dodge offshore driller as restructuring credit event question posed
3 years ago
The Americas Determinations Committee has been asked to rule on whether UK headquartered offshore driller Valaris has triggered a restructuring credit event -
DC sets tight deadline to resolve Hertz challenge
3 years ago
The Americas Determinations Committtee has set a deadline of 5pm New York time tomorrow to resolve a challenge to obligations for next week's Hertz Corp CDS auction -
SocGen promotes cross-asset solutions specialist
3 years ago
Societe Generale has named a global head of economics, cross-asset and quant research -
Deutsche Bank hires CDS index and single name trading head
3 years ago
Deutsche Bank has bolstered its CDS market making capabilities with the hire of a head of US index and single name trading. -
Hertz Corp CDS auction faces delay amid deliverables challenge
3 years ago
The Americas Determinations Committtee has received a challenge to obligations submitted for use in an approaching auction to settle Hertz Corp CDS -
California Resources auction set as CLOs hold loans and recoveries look low
3 years ago
The Americas Determinations Committee has set a date to resolve CDS referencing California Resources Corp, which has triggered a failure-to-pay credit event -
Big reverse rally as hopes rise for US stimulus
3 years ago
Credit markets are rallying sharply today, along with rising stocks, on expectations the US is about to deliver another stimulus package to help address the damage caused to its economy by covid-19 -
Market sell-off takes Europe on convergence path with US
3 years ago
Convergence between European and US credit has gathered pace, with the differential between both investment grade and high yield CDS indices reaching new recent tights
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