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ECB stimulus hopes bolster high yield outperformance
3 years ago
Spread compression has picked up again, with European high yield taking the lead as expectations mount for another round of European Central Bank stimulus at its meeting next week -
Europcar posed as failure to pay credit event
3 years ago
Europcar Mobility Group has been proposed to the Emea Determinations Committee as a failure to pay credit event, following the French vehicle hire firm's announcement of a financial restructuring -
Wide-end names gain ground as market hits impasse
3 years ago
Financial markets appear to have a hit resistance points in several asset classes today, with credit, stocks and oil prices struggling to find traction despite encouraging signals from the UK on rolling out the Pfizer/BioNTech covid vaccine -
Spread compression resumes with US passing key milestones
3 years ago
Credit markets have resumed their crunch tighter today, with an absence of any obviously negative brakes to offset strengthening Asian industrial numbers and applications by vaccine makers for emergency approval in the US and Europe -
Bulls give up some gains as IG banks and energy lead market wider
3 years ago
In a cautious opening to the week, credit spreads are edging wider against a backdrop of faltering oil prices but marginally strengthened stocks -
Europe keeps to the grind with wide-end driving improvement
3 years ago
Credit exhibits a firm tone as the week draws to a close, with index spreads grinding back towards their tights despite a mixed picture for oil prices and much of the US market away after the thanksgiving holiday -
Stressed credits push tighter even as index bulls take profit
3 years ago
A cautious tone has returned to financial markets ahead of the US thanksgiving holiday, with the strong push tighter of credit spreads in recent sessions giving way to a widening move -
Investment grade rallies hard on hopes of end to US deadlock
3 years ago
In a change from the recent trend investment grade credit is the front mover today, playing catch up on high yield as the market-wide rally gathers pace -
Zambia triggers failure to pay credit event
3 years ago
The Republic of Zambia has triggered a failure-to-pay credit event, he EMEA Determinations Committee has ruled -
European high yield stays positive as rest of market hits resistance point
3 years ago
Credit markets are taking a cautious step back following the recent rally, with only European high yield spreads still exploring their best prints of the week -
Covid toll puts reality check on market rally
3 years ago
Credit markets look to have hit a point of resistance, with spreads retracing today amid a rising likelihood of stricter covid-19 measures be applied in places such as New York, Tokyo and Madrid -
No CDS auction for Scandinavian Airlines 'soft' credit event, rules DC
3 years ago
A credit event auction will not take place for Scandinavian Airlines System Denmark–Norway–Sweden CDS contracts, despite the company triggered a restructuring credit event last month, the EMEA Determinations Committee has ruled -
Zambia posed to DC as failure to pay credit event
3 years ago
The EMEA Determinations Committee has been asked to rule on whether the Republic of Zambia has triggered a failure-to-pay credit event, despite there being little CDS market exposure to the country's sovereign debt -
Compression gains mount as Moderna vaccine result boosts confidence
3 years ago
Compression trades are paying off today, with a new covid-19 vaccine announcement prompting a broad tightening of credit spreads in which high yield corporate indices lead the charge and financial names are outperforming investment grade corporate borrowers -
Compression and curves in play amid second day of vaccine rally
3 years ago
Credit spreads are converging as they edge tighter again today, following their forceful improvement to pre-covid levels yesterday due to a successful covid-19 vaccine test -
Primary pumped as Trump gazumped and vaccine hopes jump
3 years ago
A 'yuge' rally is underway in credit markets today, with optimism over Joe Biden's apparent victory in the US presidential election turning to elation following a big covid-19 vaccine breakthrough -
I foresee various spooky spectacles hitting our screens - and your long portfolios
3 years ago
Welshcake is settling in for a horror movie marathon. But in the previews he sees monsters lurking behind tight credit spreads -
Scandinavian Airlines System triggers restructuring credit event
3 years ago
Scandinavian Airlines System Denmark–Norway–Sweden has triggered a restructuring credit event as a result of its recent recapitalisation, the Emea Determinations Committee has ruled -
Scandinavian Airlines System posed as restructuring credit event
3 years ago
The Emea Determinations Committee has accepted a request to rule on whether Scandinavian Airlines System Denmark–Norway–Sweden has triggered a restructuring credit event as a result of its recent recapitalisation -
Rally puts credit back on even footing but single name volatility persists
3 years ago
A sizeable rally today is putting credit indices back on a flattish footing with where they began the week, adding to the sense the market is finely poised with only six trading days to go before the US presidential election -
Garfunkelux gaps in as refi points to CDS orphaning
3 years ago
Garfunkelux Holdco 2, the CDS trading entity of debt collector Lowell, is leading today's drive tighter as the company's planned refinancing raised the prospect of contracts becoming orphaned -
Selecta CDS settles with final price above bonds
3 years ago
Selecta Group CDS contracts have settled at a final price higher than where bonds were trading and above the credit event auction's initial market midpoint -
Selecta auction on course for mid-range CDS recovery
3 years ago
Selecta Group CDS contracts look set to generate a pay-out for protection buyers about midway in their range the months running up to today's credit event auction -
High yield shorts and basis trades abound as borrowers race to issue
3 years ago
Discrepancies between high yield bonds and CDS could be a rich mine of activity in the coming months, say investors, with volatility set to rise while defaults and late cycle signals avail trading opportunities -
Selecta CDS auction date set with revised deliverables process
3 years ago
The Emea Determinations Committee has set a date later this month to settle Select Group CDS and has notified a change to its rules for choosing deliverable obligations
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