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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 -
German convergence as travel co surges inside troubled real estate firm
2 years ago
Amid rocky markets there has been a tale of two diverging credits in the European high yield market on Wednesday, with two of the riskiest names passing each other on sharp convergent moves -
Investors shrug at new Evergrande bond deadline a week on from roll havoc
2 years ago
Chinese real estate giant Evergrande looks unlikely to meet a $45 million bond payment due on Wednesday despite reports it plans to sell a $1.5 billion commercial bank stake. But credit markets are showing very little reaction despite initial default concerns having up-ended CDS index rolls only last week -
Deutsche Bank adds credit trading head to US build out
2 years ago
Deutsche Bank is looking at the next phase of its US development with the hire of a credit trading head from another bank -
Ashurst hires senior structured credit and derivatives lawyer
2 years ago
Law firm Ashurst has added a partner to its global markets practice in New York -
High yield leads way as credit steals march on Biden boost
2 years ago
Credit indices have taken another turn for the tighter, even as stocks stay flat ahead of US president Joe Biden unveiling his infrastructure and economic recovery package -
Roll pushes indices wider but fair value trumps technical positioning
3 years ago
Several CDS indices rolled into new series on Monday, with all of them adding spread over the outgoing versions due to added duration as well as composition changes -
Renewed energy boosts credit as relief rally resumes
3 years ago
Energy companies are performing well and credit indices have resumed their push tighter after a strong surge inwards Monday, outpacing moves in other parts of the financial market -
Credit makes strong gains in relief rally
3 years ago
The week has opened on a stronger tone amid a calming of government bond yields, conducive manufacturing data in Europe and a new covid-19 vaccine approval in the US -
Compression trades grind into gear as spreads narrow
3 years ago
Compression between high yield and investment grade credit looks to be finally gaining traction in February, having been identified by some strategists at the start of the year as a key 2021 theme -
US looks for stronger open after sell off
3 years ago
US credit is opening slightly stronger on Thursday, after its sharp Wednesday rout, prompted by Federal Reserve messaging, carried over forcefully into Asian and European markets -
Credit touches November levels as nerves fray on France and Fed
3 years ago
Fears of a third national lockdown in France and the risk of disappointment from Wednesday's US Federal Reserve meeting have pushed credit wider along with a sell off in stocks -
Credit lags in market recovery after borders panic
3 years ago
Financial markets are recovering after Tuesday's sell-off, but credit is lagging stocks despite having taken more of a hit in the initial rout -
Credit beats fast retreat as Biden boost dissolves in sea of troubles
3 years ago
The improvement of financial markets following the inauguration of Joe Biden as US president on Wednesday is looking short-lived as the week comes to an end, with CDS indices once again among the poorer performers -
Comment: Europcar auction dented short-sellers but not CDS
3 years 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 -
Europcar CDS auction shocks protection buyers with zero pay-out
3 years 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
3 years 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 -
Europcar auction faces challenge with tight turnaround
3 years 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 -
Disconnect as credit sells off as stocks and oil strengthen
3 years 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
3 years 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
3 years 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
3 years 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 -
Europcar triggers first credit event in Crossover series 34
3 years 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
3 years ago
Credit is stumbling into the week, with a widening of index spreads that noticeably underperforms stock markets
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