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Russia looks to avoid default as deliverable list points to 27-cent recovery
1 year ago
The Credit Derivatives Determinations Committee has published a preliminary list of bonds it deems deliverable into Russian Federation CDS contracts, even though reports suggest Russia may have avoided default with just one day left on the country's grace period for overdue international bond payments -
Domino effect as third Chinese property credit event question topples onto DC's pile
1 year ago
Sunac China Holdings has become the third Chinese property company in as many months to be proposed to the Credit Derivatives Determinations Committee as a potential credit event -
Prep work begins for Russia credit event auction
1 year ago
The Credit Derivatives Determinations Committee has started preparing for a credit event auction to settle CDS referencing the Russian Federation, which stands on the brink of triggering sovereign contracts -
Tech and supply chain concerns take credit back to year's wides
1 year ago
A cocktail of bearish signals has taken credit markets back to their widest levels since March, with Tuesday's sell off spilling over into the Wednesday session -
German property co hits new wides as investors scrutinise investigation report
1 year ago
The bearish momentum that gripped financial markets on Friday has spilled over the weekend into Monday's session, with an especially big move in the debt of one German real estate borrower taking it to worrisome spread levels -
Potential failure to pay has occurred on Russian CDS, says Determinations Committee
2 years ago
The Russian Federation is moving closer to triggering a credit event on foreign debt, with the Credit Derivatives Determinations Committee having ruled a potential failure to pay has occurred -
Heavy mood greets Europe’s return as earnings and rates policy weigh
2 years ago
The European market on its return after the long weekend is greeted with another sizeable push wider in spreads, with focus on US Federal reserve policy, this week’s round of corporate earnings and the prospect of US 10-year inflation linked bond yields turning positive for the first time in two years -
Credit rally revives as investors scour ECB for Easter eggs
2 years ago
Credit spreads are taking a turn for the tighter on latest European Central Banks statements, at the end of a short week characterised by flatter index trading but persistent single name volatility -
RusRail no-auction vote means CDS holders must track down bonds
2 years ago
Russian Railways CDS contracts will not be settled via auction despite the borrower having triggered a failure-to-pay credit event, the Credit Derivatives Determinations Committee has ruled -
DC meets to consider next steps on Russia and RusRail CDS
2 years ago
The Emea Determinations Committee is meeting today, having accepted a request to rule on whether a potential failure to pay has occurred on Russian Federation CDS contracts -
Skew in focus for second day as single names move sharply against index
2 years ago
Credit indices are trading out of sync with their underlying constituents for a second day this week, with single names broadly widening despite investors seeking to maintain flattish macro positioning -
Russian sovereign posed to DC as 'potential failure to pay'
2 years ago
The Russian Federation has again been referred to the Credit Derivatives Determinations Committee for the second time in a month, this time with the questioner asking if a potential failure to pay has occurred -
Sovereign in scope as Russian Railways triggers first Ukraine-linked credit event
2 years ago
Russian Railways had triggered a failure-to-pay credit event, the Credit Derivatives Determinations Committee has ruled, making this the first sanctions-related credit event since Russia's invasion of Ukraine in February -
Russia returns to default pricing as railway co awaits credit event vote
2 years ago
Russian credit spreads are once again under intense pressure and sanctions-related credit events are back under the spotlight as the country's state-owned railway company faces the scrutiny of the Emea Credit Derivatives Determinations Committee -
Russian Railways posed to DC as failure-to-pay credit event
2 years ago
Russian Railways has been posed as a failure-to-pay credit event, following a filing about its debt on the Swiss Stock Exchange on Friday -
Logan Group contracts require physical settlement, DC rules
2 years ago
Logan Group will not require an auction to settle CDS contracts despite having triggered a failure-to-pay credit event, the Credit Derivatives Determinations Committee has ruled -
US oil drive boosts credit, but property firm goes against the flow
2 years ago
US moves to increase oil supply have prompted financial markets to resume rallying, after Russia dampened optimism on peace in Ukraine. But one European company is moving sharply in the other direction -
Chinese property co defaults stack up with second credit event trigger in two months
2 years ago
Logan Group has triggered a failure to pay credit event, the Credit Derivatives Determinations Committee has ruled, in its second such decision on a Chinese property developer in as many months -
High yield gap yawns open after US index roll
2 years ago
A market rally ahead of Russia/Ukraine peace talks has added to the gap between European and US high yield credit derivative index spreads, a day after CDX HY rolled into a new on-the-run series -
Russia extends rally as DC rules against repudiation / moratorium
2 years ago
Russian Federation CDS contracts rallied strongly for a second day on Thursday, after the Credit Derivatives Determinations Committee ruled a repudiation / moratorium had not occurred on the country's sovereign debt -
Credit rally extends as investors welcome hawkish but clearer Fed message
2 years ago
Credit markets have carried their rally over to another day, fuelled in part by what investors have interpreted as a hawkish but clear message from the US Federal Reserve on policy tightening -
China pledges and Russia/Ukraine peace hopes drive relief rally
2 years ago
Credit markets have surged tighter on Wednesday, with China's pledge to support covid-hit markets and hopes rising for Russia-Ukraine peace discussions ahead of US Federal Reserve policy moves that are widely thought to have been priced in -
DC accepts request to rule on Russian repudiation / moratorium
2 years ago
The Russian Federation is subject to credit event scrutiny over warnings it could repay foreign bond investors in rubles, with the Credit Derivatives Determinations Committee agreeing to rule on a 'potential repudiation / moratorium' question -
China's covid response fuels regional dislocation and slowdown fear
2 years ago
Asian credit divergence has extended into a second day, with China's move to address rising covid numbers driving regional spreads as investors elsewhere await a closely watched Federal Reserve meeting -
Europe leads rally ahead of Fed despite mounting concerns from Asia
2 years ago
Credit markets have begun the week on a firmer tone, with Europe outperforming, despite concerns that rising covid-19 cases in China could add a further source of supply disruption
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