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Credit traders' kickstand: Europe ascendant as high yield pipeline returns
4 years ago
The high yield bond primary market grinds back into gear this week just as European credit reaches an extreme point of outperformance over the US, and comes on the back of Europe’s busiest week of investment grade issuance in 18 months -
Investors seek oasis as new issues dry up
US loan issuance has fallen dramatically this year, but many thirsty investors found liquidity in the secondary market or took advantage of plentiful high yield issuance in a record quarter for bonds -
Flat curves and decompression make waves below the surface
4 years ago
Hopes of using the summer slowdown to get to the beach may be tempered for credit relative value traders, where opportunities abound behind the uninspiring benchmark numbers of the slow market grind. -
Net short language could force lenders to sell at a loss
4 years ago
Signs are growing that ‘net short’ provisions in bonds and loans are getting closer to hitting CDS investors, with two instances in recent weeks of the language expanding both in geographical and functional remit. -
Back to basis (and skew) as relative value plays catch-up
4 years ago
Basis trades between bonds and CDS failed to gain traction during July as synthetic markets held ground or improved their position versus cash, but this is beginning to change, say market participants. -
Credit traders' kickstand: Trump gives Europe the ghoulies as single B spectres haunt CLOs
5 years ago
Trade tariff terrors and things that go triple C rated in the night are top of the list of items spooking credit market sentiment at the end of this week -
Ice seeks consensus with credit risk analytics service
5 years ago
Intercontinental Exchange (Ice) has launched ICE Credit Risk, a suite of analytics it will provide in collaboration with financial risk assessment company Credit Benchmark -
High yield bonds regain lost ground
The US high yield bond market experienced its biggest quarter since Q4 2017, with volumes and returns rising as borrowers plumped for secured bonds and the Fed turned dovish on rates5 years ago -
Moving on from the late 2018 hangover
5 years ago
It might be too early to call a full recovery, but it’s fair to say that the US loan market is back on track with $48 billion of institutional issuance in 2019 — 88% of which is made up of new issues -
Libor rise gives timely boost to US loan yields
6 years ago
Competition for US loans among CLOs, ETFs and mutual funds is keeping margins in check. However, the 60bp increase in Libor in Q1 means there’s still reason to pile into the loan market -
Spotlight: Local exchange carriers - calling for rescue on the M&A hotline
6 years ago
Growth-starved US phone companies are seeing consolidation as the best way to improve performance
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