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CLOs and loans find footing as post-Sofr trends emerge
2 years ago
The US leveraged loan and CLO markets transitioned to a new base rate from 1 January without the lengthy issuance pause that was widely predicted in the months leading up to the switch -
Credit unprepared as Russia and Ukraine spreads go on march
2 years ago
Huge moves in Russian and Ukrainian credit spreads have exposed the growing mismatch between assessments of a likely conflict between the two countries, and the neglect of investors to price in its impact on broader markets -
Bond pipeline builds as rocky markets thwart supply
2 years ago
Various factors have played into credit spreads widening at the start of 2022, but an over-supply of bond issuance is not one of them — in contrast to what was moving the market this time last year -
Performance dispersion hits index equity correlation
2 years ago
Volatility at the start of the year has intensified moves in iTraxx and CDX index tranches, with traders pointing to growing dispersion in performance among constituents as a theme that will bring more focus on equity correlation in 2022 -
Financial-corporate compression in play as relief rally extends
2 years ago
Credit markets are experiencing a second day of improvement, with financials outperforming corporate borrowers in the investment grade arena -
Saipem's fall lands it among Europe's riskiest borrowers
2 years ago
Saipem has placed itself among the riskiest companies in the European high yield credit market, with its deterioration in spreads extending as it negotiates with investors to shore up ailing finances -
Troubled high yield credits go against flow as market rallies
2 years ago
Credit markets are beginning February with a more buoyant mood, but idiosyncratic volatility is keeping investors on their toes with several European high yield single name credits making big moves -
Eerie calm breaks as bears return to feast
2 years ago
After what looked a calmer and even buoyant start, credit markets have again pushed wider on Monday as investors wrestle with competing view on outlook for central bank policy -
Engineering company gaps wider as earnings slump invites debt wrangles
2 years ago
Saipem is a standout mover in the European credit market on Monday after warning on profits -
Former Wells Fargo CLO researcher joins Credit Suisse in New York
2 years ago
A former CLO and ABS researcher at Wells Fargo has joined Credit Suisse as a CLO trading desk strategist in New York -
Heavy market rout takes credit back to November 2020 levels
2 years ago
High volatility is gripping financial markets at the end of a week that has been decisively bearish for credit spreads, as concerns about the end of central bank stimulus and warnings of a Russian invasion of Ukraine next month layer on pain for investors -
Travel, tech and financials give market boost ahead of Fed second day
2 years ago
Credit and equity markets are back in tandem with a sizeable rally ahead of Wednesday's closely watched US Federal Reserve meeting, following a volatile start to the week -
US and Euro credit diverge ahead of Fed
2 years ago
US and European credit are moving in different directions as investors try to rebalance their positions on Tuesday ahead of the US Federal Reserve meeting kicking off -
Financials move first as bearish trading resumes ahead of Fed meeting
2 years ago
The bearish tone in financial markets has spilled over into another week with cautious positioning ahead of the US Federal Reserve meeting, weakness in tech stocks, financial credits underperforming and growing trepidation about the possibility of Russian intervention in Ukraine -
See what's next: Netflix gives whole market a chill
2 years ago
Financial markets look set to end the week once again on a bearish trajectory, with fears over consumer confidence and company earnings helping take credit spreads back to their widest levels since the start of December -
Biden remarks add extra twist to Ukraine / Russia credit volatility
2 years ago
The war of words around Russia's intentions regarding Ukraine is keeping both countries' credit spreads volatile, with US president Joe Biden's latest remarks leaving room for interpretation on both the perceived threat and how Ukraine's allies are prepared to respond -
Credit makes comeback despite oil and treasury yields hitting new highs
2 years ago
The bearish mood that has gripped trading sessions over the past week appears to be easing slightly, with US and European credit indices picking up after a strong rally in Asia -
Financials lead widening push amid oil and treasury surge
2 years ago
The widening pressure on credit spreads has resumed in response to rising treasury yields and oil prices, as Fed hawkish signals and supply chain concerns hold sway -
Ukraine and Russia volatility steps up amid political trial and conflict fears
2 years ago
Ukrainian and Russian spreads are among the market's biggest movers at the start of the week, as developing tensions between the two countries ramp up another notch and former Ukrainian president Petro Poroshenko has arrived in Kyiv to face treason charges -
Post-CPI relief rally gives way to bears as reality bites
2 years ago
A bearish tone has returned to financial markets in the latter part of the week, despite investors seemingly taking in stride the highest US inflation growth numbers for almost 40 years -
HalseyPoint keeps Libor-linked CLO notes after digital refinancing
2 years ago
HalseyPoint Asset Management has cut the funding costs of its 2020 CLO named HalseyPoint CLO II, managing to keep the notes linked to Libor by selecting a digital dutch auction to reprice the notes -
German real estate co makes big move on portfolio sale
2 years ago
Adler, the German real estate company, is one of the biggest movers in the European credit market on Thursday after signing an agreement to sell part of its portfolio -
Riskiest names lead US credit rally as big number looms
2 years ago
US companies at the wider end of the high yield market have led the market's repositioning rally ahead of Wednesday's key inflation numbers, as investors brace for what could be a directional signal for Federal Reserve policy -
Credit rallies ahead of key inflation numbers
2 years ago
Credit markets have made a corrective turn towards tighter spreads after several successive sessions of deterioration, as investors position ahead of this week's key US inflation numbers -
Telco provider jumps wider as market downturn extends
2 years ago
The bearishness that reasserted itself in the opening sessions of 2022 has spilled over into a second week, as investors anticipate elevated US inflation numbers that will put the focus back on central bank rate hikes and asset purchase tapering even as covid-19 cases hit new heights
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