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Credit rallies on Fed and BofE rates signals, but starting gun fires on tapering
2 years ago
Credit and equity markets have responded well to the US Federal Reserve unveiling much anticipated plans to begin tapering asset purchases, while vouching it will stay patient on hiking interest rates. The Bank of England followed this on Thursday by holding its rates at 0.1% -
Dispersion trades in play as transatlantic rift opens
2 years ago
The return of idiosyncratic risk at the wide end of US and European high yield markets has put index equity tranches for the two jurisdictions on noticeably divergent paths, say correlation traders -
Energy crunch grows as differentiator for EM and western credit
2 years ago
Surging energy prices are adding to the inflationary picture in global economies and point to a mounting crisis that could bring sharply divergent performance for different parts of the credit market -
Rental firm accelerates bullish drive despite credit market's heavy braking
2 years ago
Vehicle rental firm Avis Budget and UK retailer Iceland are among rare single name big movers in credit this week, as a tone of caution continues to hold sway over broader directional signals -
There's still time to pick up pennies in credit before steamroller arrives: BNP Paribas
2 years ago
Declining dealer inventories, rising fund cash balances, and a greater prevalence of hedging have added up to produce a credit market that is positioned too short, according to BNP Paribas strategists -
Zais and BNP Paribas strike ESG breakthrough with climate change CSO
2 years ago
The growing theme of environmental, social and governance standards helping to revitalise the market for collateralised synthetic obligations appears to have taken a big step forward, with Zais Group and BNP Paribas partnering on a first-of-its-kind deal that could lay a template for future transactions -
Brookfield hires industry veteran as public securities CIO
2 years ago
Brookfield Asset Management has hired a long-serving credit and equity market professional as chief investment officer for its public securities group -
Chemical co beats widening blues as earnings and inflation drive sell-off
2 years ago
Ineos Group leads a small group of tightening credits that are bucking widening pressure in what is turning out to be a negative end to a choppy week -
Banks soak up selling pressure ahead of key ECB meeting
2 years ago
Banks - and particularly those in Italy and Spain - are among the main underperformers in credit as the market cautiously awaits messaging from this week's meeting of the European Central Bank -
Adler spreads return to earth as TUI gains altitude
2 years ago
German real estate company Adler is among stronger performers as credit markets strike an improved tone on Tuesday, while travel company TUI is an outlier to the wide side -
Real estate relief boosts high yield but retail rout gathers pace
2 years ago
A mixed week for credit has taken German real estate company Adler back to safer levels while sending two supermarket retailers further into the realms of most risky in the iTraxx Crossover universe -
Sov yield surge finally weighs on IG fund flows, as credit turns corner
2 years ago
Investment grade credit funds have suffered their first net outflow in several months, as the uptick in rates volatility has finally weighed on appetite in this part of the credit spectrum -
Compression trade resumes as reverse rally bites on shorts
2 years ago
This week's relief rally gathered momentum in credit and equity markets on Thursday against a further retreat of government bond yields, even as oil prices hit new highs -
Casino's hand improves as credit eases off year's wides
2 years ago
Credit markets have taken a turn for the tighter, with spreads broadly rallying, amid a retreat of oil prices and government bond yields -
Frosty times for UK retailer as credit hits new wides
2 years ago
Frozen food retailer Iceland is heading into the riskiest reaches of the iTraxx Crossover spread dispersion, where few other constituents tread -
Adler rally gains extra LEG as rest of market slips on oil
2 years ago
Few credits have escaped widening pressure in a dour start to the week, but Adler Group has extended its relief rally after agreeing to sell part of its property portfolio -
US debt talks and German real estate regain composure after damaging wrangles
2 years ago
Adler Group is ending on a firmer footing what has been a rocky week for the German real estate company, as credit heads into the weekend unmoved by developments in the US on raising the country's debt ceiling -
Credit suffers double punch from treasury and energy surge
2 years ago
Credit markets are nursing their wounds after taking a battering on Wednesday, prompted by a surge in oil prices and spike in government bond yields that add to concerns about rising inflation -
German real estate co surges tighter on asset sale review
2 years ago
Adler Real Estate is a big improver in European credit at the start of the week, after the company notified investors that Adler Group will initiate a strategic review as it looks to cut leverage -
German real estate co hits new wides as single names catch up with index rout
2 years ago
Adler Real Estate is again one of the biggest movers in the European credit market, as the week comes to a bearish close and October begins with heightened uncertainty -
Adler resumes downward slide as European real estate woes mount
2 years ago
Market sentiment is weighiing heavily on European real estate once again, with Adler bonds and CDS in particular adding to their recent deterioration -
Healthcare M&A offers diverging prognoses in high yield as market recuperates
2 years ago
Grifols, the Spanish healthcare business, is making a push wider at odds with rallying markets, having brought €2 billion equivalent of bonds to back its acquisition of European plasma player Biotest -
Chinese power crunch brings off day for credit as investor optimism dims
2 years ago
Concerns about a China slowdown, Germany's election result, rate hikes and the US government's inability to lift its debt ceiling have contributed to a sharp move wider in credit, as investors attempt to digest a variety of big unknowns -
HY set to roll after rocky week scuttles investors
2 years ago
Market participants are holding their breath ahead of the roll of US high yield index CDX HY, after a week of volatility and fund outflows -
Credit rally extends as Fed hurdle passes and Evergrande views evolve
2 years ago
Credit markets are rallying for a second day, after the US Federal Reserve meeting indicated a shortening timeline to rate hikes but no shocks. A key deadline for China Evergrande bond payments still overshadows the Thursday session, but investor expectations have gravitated to a more localised impact for any fall out
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