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Chicken supplier takes courage from earnings improvement
2 years ago
Boparan, one of the riskiest companies in the European high yield credit market, is among the biggest movers in bonds and CDS on Wednesday, as the market resumes its rally to the tightest prints of the year -
Triple Bs in the firing line as Fed turns hawkish, says BofA
2 years ago
Triple B and long duration credit are likely to be casualties of tightening central bank policy, Bank of America strategists have warned. But high yield and cyclical investment grade sectors could fare better -
High yield chemical co gaps tighter on bond buy-back
2 years ago
Chemical producer K+S Group is a big improver in credit on Thursday even as the rest of the market moves wider, after it announced a tender offer for bonds -
Credit indices hit impasse after US high yield returns to pre-covid tights
2 years ago
Credit improvement looks to be taking a breather on Thursday after the compression play in CDS indices took US high yield index CDX HY to its tightest prints since February 2020, before the outbreak of covid-19 began to blow out spreads -
Shipping firm adds buoyancy amid few signs of choppiness in credit
2 years ago
CMA CGM, the French container shipping company, is a big mover today amid very calm waters elsewhere in credit. -
"In the afternoon I awoke from a pile of willow leaves to discover we had created a Welsh ether-based token"
2 years ago
A localised crypto-currency boom and bust cycle teaches Welshcake (again) that everything becomes correlated in a downturn -
Focus shifts to macro views amid blurry relative value picture
2 years ago
Relative value trading has become a difficult place to operate in credit, with previously effective strategies such as compression, pairs and basis hard to discern and opportunities difficult to source, according to portfolio managers. -
Single Bs bomb as beta narrative shifts
2 years ago
Few signalled themes in credit have died away as quickly as that of the outperformance of single B rated credit, which several firms proposed at the start of May but soon found crushed by a cocktail of worries around inflation, central bank policy, supply and high yield fund outflows -
Credit bull run picks up amid commodities surge
2 years ago
European credit spreads have made a sharp turn for the tighter, building on last week's strong run, even after Asian spreads weakened on rising commodity costs -
Credit grind makes it five days out of five in bullish week
2 years ago
Credit markets are heading into the weekend on a fifth straight day of improving spreads, amid signs of returning economic confidence and appetite to invest in the asset class -
French equipment rental firm gets big lift on Q1 results
2 years ago
Loxam, one of the widest trading names in the iTraxx Crossover universe, is leading index constituent tighteners on Wednesday after posting first quarter results showing improvement in revenue and ebidta -
Financials and high yield outperform as rally gathers momentum
2 years ago
Credit spreads are enjoying a second day of improvement to regain some of the ground they lost last week, with Italian banks, commodity traders and higher yielding borrowers among outperformers in a broad rally of both indices and single name borrowers -
CLOs' favourite telco jumps tighter following strong results
2 years ago
French telco Altice is in focus on Friday as credit puts thoughts of a broader directional trade on hold -
Commodity inflation sends Asia spreads back to wides
2 years ago
Asian credit and stocks added to a rough few days with further sell offs on Thursday, outpacing deterioration in other regions -
Sell-off regathers momentum as inflation signals mount
2 years ago
A glum mood has returned to financial markets, beginning with the US session on Tuesday and overspilling into global trading on Wednesday -
Financials and high yield corps retrace tighter after inflation shake out
2 years ago
Credit markets firmed up on Tuesday, with European single name CDS finding a chance to recover some ground after Monday's inflation-led weakness. But credit indices underperformed, struggling to return tighter even as stock indices advanced once again and oil prices hit new highs -
Credit underperformance resumes as equity turns corner
2 years ago
Credit markets are pushing wider once again on Wednesday, even though stock markets look to regaining some composure following Tuesday's steep sell off -
Single Bs and periphery in favour as European HY market deleverages: BofA
2 years ago
Single B, periphery, leisure, retail and services high yield credit all look to offer value, amid indications the European market is deleveraging quicker than expected -
Telecom Italia spreads dial up as Draghi disconnects network plan
2 years ago
Telecom Italia is among Thursday's underperforming credits in Europe, after the country's prime minister Mario Draghi scrapped plans for a single national fibre network -
Credit and stocks regain composure on rates as oil hits new heights
2 years ago
Credit and equity markets have improved again on Wednesday morning, after US treasury secretary Janet Yellen's comments about possible rate rises spooked markets on Tuesday afternoon -
M&A drives movers in high yield and investment grade
2 years ago
Acquisition talks are having the biggest impact on European credit spreads on Tuesday following the UK bank holiday, with several names moving against an otherwise flat market -
Banks set to offer client clearing of credit index options
2 years ago
Bank members of LCH, the London Stock Exchange's clearing arm, will soon start offering client clearing of CDS index options, as the industry prepares for its next ramp up of margining requirements -
Spread tightening picks up with single names making good ground
2 years ago
The credit market rally picked up its pace on Thursday, after several days of more incremental movement. A notable feature is that single names are picking up the shift and in numerous cases outperforming rather than lagging indices -
Saipem moves sharply on Mozambique moans
2 years ago
Saipem, the Italian energy engineering group, was a big underperformer in a flattish credit market on Wednesday, as uncertainty over a project in Mozambique weighed on first quarter results and its outlook for the year -
Picard and Cleveland-Cliffs underscore high yield single name sensitivity
2 years ago
Picard entered a relief rally on Friday after postponing a triple-tranche bond deal backing a refinancing and shareholder dividend
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