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Credit traders' kickstand: European financials outperform as Trump-Xi meeting looms
4 years ago
Credit markets are finely poised going into the weekend, when US president Donald Trump’s crunch G20 meeting with Chinese president Xi Jinping likely could set the direction of trade from Monday -
Credit traders' kickstand: synthetic credit leads the way as spreads swoop on dovish wings
4 years ago
Dovish comments by the European Central Bank and US Federal Reserve, along with thin bond issuance, contributed to a pronounced rally this week in credit market. But a nervy week may lie ahead as suspense grows before G20 summit talks between the US and China next Friday and Saturday -
Barclays rehires high yield credit trader from Goldman Sachs
4 years ago
A high yield specialist has become the second credit trader in as many months to rejoin Barclays from Goldman Sachs -
US and European basis trades in play as bonds lag CDS rally
4 years ago
A recent outperformance of CDS indices versus cash bonds has opened up basis trade opportunities on both sides of the Atlantic, say credit strategists -
CDX IG and iTraxx back to level pegging as oil and trade weigh heaviest
4 years ago
Credit markets, along with stocks, enter the week on a flattish tone with focus once again on the next developments between the US and China over trade tariffs. This follows European credit faring better than the US last week as the mood strengthened around Italian and UK risks, say strategists -
Trump tariffs and oil slip dent Europe vs US credit decompression trades
4 years ago
Underperformance of US credit derivative indices at the end of last week has created a trading entry point for those still convinced that Europe has more problems. But bearish factors continue to coalesce on both sides of the Atlantic -
Credit traders' kickstand: nervous equilibrium gives way to weakness as earnings and tariffs weigh
4 years ago
Healthy fund inflows, European and US holidays, and a thinning primary market helped sustain credit spreads this week, but a weaker turn today shows this is a fragile equilibrium and company earnings misses are starting to be punished more severely -
Credit traders' kickstand: grave times for UK banks and corps as May goes away
4 years ago
UK banks have been among the main underperformers in credit this week, with market sources noting that today’s notice of Prime Minister Theresa May’s intention to resign on 7 June increases the likelihood of a no-deal Brexit. And UK 'zombie' companies appear to be forming a herd -
Credit traders' kickstand: widening catalysts gather force with focus on financials
4 years ago
Credit markets are once again ending the week on a negative tone, having regained some posture over previous sessions following last week’s tariff-driven sell-off. Credit index spreads appear inclined to trade within a range, but potential catalysts for that range to shift wider outweigh any obvious reasons to return to the tight prints of last month -
Credit traders' kickstand: Trump gives Europe the ghoulies as single B spectres haunt CLOs
4 years ago
Trade tariff terrors and things that go triple C rated in the night are top of the list of items spooking credit market sentiment at the end of this week -
Ice seeks consensus with credit risk analytics service
4 years ago
Intercontinental Exchange (Ice) has launched ICE Credit Risk, a suite of analytics it will provide in collaboration with financial risk assessment company Credit Benchmark -
Short resets take CDS indices wider at March roll
5 years ago
CDX and iTraxx credit derivative indices are rolling into new series today, with short position resets taking the incoming series 31 of the Europe main index wide of where series 30 closed yesterday -
US and UK sound post-Brexit derivatives regulatory accord
5 years ago
The US Commodity Futures Trading Commission (CFTC) and the Bank of England have issued a joint statement assuring derivative market participants of continued access to trading and clearing after the UK’s exit from the European Union -
CDS sell-off brings profit-taking opportunity for basis trade players
5 years ago
Profit-taking on basis trades between CDS and cash bonds has begun, with the strong run for credit markets since the start of the year having hit a bump yesterday -
Credit spread improvement is calm before the storm, warn strategists
5 years ago
European and US credit markets have begun 2019 with a more buoyant tone than they ended 2018, but strategists warn that bearish factors still outweigh and suggest the overall direction of spreads this year is likely to be wider -
Creditex obtains CFTC swap execution facility exemption
5 years ago
Creditex, the electronic brokerage for corporate bonds and credit default swaps, has been granted an exemption from a requirement to register with the US Commodity Futures Trading Commission as a swap execution facility -
Credit sell-off has room to run and pricing is out of whack, says BNP Paribas
5 years ago
The credit market sell-off could have further to go despite recent widening and is “in the process of a late-stage business cycle unwind”, according to a strategist note seen by Creditflux -
European CDS index tightens inside US even as bonds languish
5 years ago
Credit derivatives markets have hit a key point of trend reversal this week, with the iTraxx Europe five-year CDS index trading inside its US counterpart CDX IG for the first time since May -
Market rout drives US/Europe credit convergence, as Brazil leads Latin widening
5 years ago
Credit spreads have sharply widened globally as financial markets are being rocked by concerns for a trade war and rising US rates. An equity-led rout in the US yesterday afternoon -
CBOE launches first ever US high yield corporate bond index futures
5 years ago
CBOE Global Markets has launched trading of US high yield corporate bond index futures
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