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Turkey stuffs investors with surprise rate cut
1 year ago
Turkey’s rollercoaster ride in debt markets is on another upswing to vertiginous spread levels, with the country having shocked participants with a counterintuitive rate cut -
Powerlong CDS contracts must be physically settled, says DC
1 year ago
As with other Chinese real estate defaults this year, holders of CDS protection on Powerlong Real Estate Holdings will have to physically settle contracts, after the Credit Derivatives Determinations Committee said no auction is needed -
Spreads gap wider with UK inflation adding to cocktail of concerns
1 year 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 -
Chinese real estate hit for six as Powerlong triggers credit event
1 year ago
Powerlong Real Estate Holdings has triggered a credit event, the Credit Derivatives Determinations Committee has ruled – taking the stack of Chinese housing sector contract defaults to six since December -
Ukraine posed as credit event after country defers debt
1 year ago
Ukraine has been posed to the Credit Derivatives Determinations Committee as a restructuring credit event, following the country’s agreement last week to defer debt payments -
Telcos show strength amid worrisome start to week
1 year ago
Telecommunication companies have had a good start to the week in credit markets, despite caution around latest Chinese economic numbers and reports of droughts in Europe adding to that continent’s energy concerns -
Spreads retreat ahead of pivotal US inflation report
1 year ago
Investors are holding their breath on Wednesday ahead of the latest US inflation numbers, with any change from last month’s reading likely to dictate a sizeable move in financials markets -
Russian Federation auction list features eight bonds
1 year ago
The lengthening endeavour to organise a Russian Federation credit event auction has taken another step forward, with the publication of a preliminary list of deliverable obligations -
Powerlong joins rising pile of Chinese real estate casualties
1 year ago
Powerlong Real Estate Holdings is the subject of a failure-to-pay credit even question – a potential trigger that would build the pile of Chinese real estate debt defaults the Determinations Committee has considered since December to six, with five this year -
Market rides out China-US fray with oil, rates and jobs back in focus
1 year ago
US and European credit markets are exhibiting a firmer tone on Wednesday, with investor focus having shifted from Taiwan concerns to Opec+ oil supply. But a looming Bank of England rate hike and US jobs data mean caution remains the watchword -
Relief rally extends despite US and EU sending mixed signals on recession
1 year 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 -
US tech earnings fuel relief rally even as Europe's gas supply drops
1 year ago
Stronger than anticipated earnings at US tech giants have boosted financial market sentiment and brought a relief rally to credit following yesterday’s sell-off -
Russia and retail put stop to credit rally with big spread reversal
1 year ago
Russia’s move to cut gas supplies once again to Europe, as well as a Walmart profit warning in the US, are weighing heavily on markets Tuesday and sending credit spreads sharply wider -
Credit PM pair seek galaxy of opportunities with long/short fund manager launch
1 year ago
Two experienced portfolio managers have set up a new venture to take advantage of volatile markets -
Italian rout gathers pace as credit relationships warp well beyond historical norms
1 year 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 -
Algebris adds second PM in two months to credit opportunities team
1 year ago
Algebris Investments has hired a co-portfolio manager for its Global Credit Opportunities strategies -
Go long duration in consumers and industrials: BofA
1 year 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 -
Credit tacks sharply as hiking talk brings choppy start to week
1 year ago
European financial markets opened the week on a cautious footing, after a weak Asian session, with credit indices oscillating between wider and tighter prints over the course of Monday morning -
Shimao credit event auction not needed, rules DC
1 year ago
Holders of CDS protection on Shimao Group Holdings will have to physically settle contracts -
EU inflation prints frame challenge ahead as horror show first half ends
1 year 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 -
Consumer confidence shock sends spreads back to wides
1 year ago
Weak US consumer confidence numbers on Tuesday sent shockwaves through markets that are continuing to reverberate in Wednesday's trading session -
Chinese property industry suffers fourth credit event of year
1 year ago
Shimao Group Holdings has triggered a failure-to-pay credit event, making it the fourth Chinese property firm this year to do so -
Fourth Chinese real estate firm posed as credit event
1 year ago
Shimao Group Holdings is the subject of a failure-to-pay credit event question, making it the fourth Chinese property firm this year to be referred to the Credit Derivatives Determinations Committee -
Fed hike speculation holds sway over Europe and Asia despite US holiday
1 year ago
Credit markets have opened the week marginally tighter, with Europe and Asia cautious on Monday in the absence of a US trading session, and US Federal Reserve statements likely to drive sentiment in the rest of the week -
Internet company triggers restructuring credit event at third time of asking
1 year ago
Yandex, the multinational internet and search engine company that predominantly serves Russian and Russian language users, has triggered a restructuring credit event
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