- Direct lending (15)
- Emerging markets (30)
- High yield bonds (remove)
- Investment grade credit (107)
- Structured credit (27)
- CLO (31)
- Distressed debt (112)
- Leveraged loans (76)
- Marketplace lending (6)
- Real assets (11)
Complacency rules after rally in run-up to UK election2 days ago
UK credits rallying was a familiar sight for much of November, mainly due to investors cutting their previous short positions ahead of the country’s 12 December election, but dealers reported little appetite to replace long, short or hedging trades going into the final stretch.
Deep dive trade is on, but single name risks still abound2 days ago
High yield CDS is reversing its previous underperformance versus investment grade, reflecting an investor shift down the quality spectrum in cash bonds.
- A round-up of ucits fund performance2 days ago
Deans Foods auction delivers big lunch for CDS protection buyers3 days ago
Dean Foods CDS has been settled in a credit event auction at a final price of just 9.25 cents – half the 18 cents indicated by the Dallas-headquartered company’s bonds at the time the auction was called
No 2020 recession, cyclical bonds will outperform and CLOs won't crash, says BNP Paribas5 days ago
There will not be a recession in 2020 and investors should stay long credit with the expectation that high yield cyclical and non-financial borrowers will outperform in a bullish market, BNP Paribas strategists have confidently predicted
Dean Foods CDS to have one deliverable, with 80 cent pay-out indicated11 days ago
There will be only one bond deliverable into an auction to settle CDS referencing Dean Foods, the Americas Determinations Committee has confirmed
Dean Foods CDS set to have only one deliverable on the menu16 days ago
Only one bond has made it onto the supplemental list of deliverable obligations for an auction to settle CDS referencing Dean Foods
Creditors left with sour taste as two food companies file for bankruptcy29 days ago
Credit investors have been left to digest two US food company bankruptcy filings this week, with dairy producer Dean Foods triggering the first credit event to hit on-the-run series 33 of the CDX HY index, while Houlihan's Restaurants has also sought protection
Investors increasingly see ESG as fiduciary duty, State Street survey reveals1 month ago
North American investors are most likely to view ESG as a fiduciary duty, while European investors are driven by regulation, performance and reputational risk, according to results from a survey conducted by State Street Global Advisors
Deadline just hours away for CDS users to sign Isda protocol1 month ago
Midday New York time is the cut-off for market participants to sign up to the International Swaps & Derivatives Association’s protocol aimed at stamping out narrowly tailored credit events from CDS
Rising idiosyncratic risk leads to calls for high yield index tranche fix from traders1 month ago
As sources of funding dry up for the weakest borrowers in the credit market, some correlation traders are calling for an overhaul of CDX NA HY index tranches to make trades on wide-end dispersion more effective.
ESG integration is part of fiduciary duty, finds UNPRI1 month ago
The United Nations Principles for Responsible Investment (UNPRI) report ‘Fiduciary Duty in the 21st Century’, published late last month, concludes that ESG is a source of investment value, ending debate that using ESG criteria might violate fiduciary duties.
Corporate credit performance expected to catch up with financial borrowers as European quantitative easing begins1 month ago
The return of European Central Bank quantitative easing on 30 October portends a catch up this month of corporate credit performance with other parts of the market, such as financial borrowers, say strategists.
Over 1,200 sign up to CDS protocol1 month ago
Plans to improve CDS market integrity have received a boost, with the International Swaps & Derivatives Association drawing a stronger than expected response to its protocol aimed at stamping out narrowly tailored credit events (NTCEs).
Credit traders' kickstand: QE and dispersion sever 'haves' from 'have nots'1 month ago
The underperformance of European high yield credit has picked up this week, on rising concerns about dispersion in funding access
Thomas Cook CDS settles with higher than expected recovery1 month ago
CDS referencing Thomas Cook Group settled with a final price of 10.125 cents at yesterday's credit event auction, making the high pay-outs to protection buyers still less profitable for them than had been expected
Thomas Cook CDS auction sets initial midpoint at nine cents1 month ago
An auction to settle CDS referencing Thomas Cook Group has derived an initial market midpoint of 9.125 cents, implying protection buyers will receive a pay-out on contracts in the region of 89 cents
CDS traders get second extension on narrowly tailored credit event protocol1 month ago
The International Swaps & Derivatives Association has extended for a second time the deadline for market participants to adhere to a protocol aimed at stamping out narrowly tailored credit events from the CDS market
Traders face Monday deadline for manufactured credit event protocol1 month ago
Interested parties have until Monday to sign up to a protocol aimed at stamping out narrowly tailored credit events from the CDS market, with the International Swaps & Derivatives Association having given extensions on the original deadline
Thomas Cook CDS buyers face bond squeeze as DC ejects 2023 notes from auction1 month ago
The likelihood of a squeeze on Thomas Cook Group obligations has increased for market participants looking to physically settle their CDS contracts, after the Determinations Committee ruled that the collapsed UK travel firm’s €400 million 3.875% senior notes due 2023 were inadmissible into a credit event auction
Credit traders’ kickstand: UK vote brings profit-taking and corporate catch up1 month ago
Profit-taking has reversed some of the previous outperformance of European financial credits ahead of Saturday’s crunch UK parliament vote on the latest Brexit agreement with the European Union, but UK names continue to trade bullishly as trader concerns about the chances of a no-deal exit on 31 October recede
ESG phenomenon leads to talk of incentive fee models1 month ago
For asset managers that are diving into environmental social and governance (ESG) investment standards, an ugly truth is the lack of any standardised performance fees. But that could change as more investors begin picking and choosing allocations based on ESG rubrics.
Credit traders expose themselves to Brexit bungle1 month ago
Credit investors have set themselves up for disappointment, with UK related names leading another push tighter ahead of the culmination of talks between the UK and European Union aimed at reaching a last-gasp Brexit agreement
Credit CIO Finch leaves GLG1 month ago
Simon Finch has parted ways with Man GLG, according to market sources, ending an 18-month stay at the firm where he served as chief investment officer for credit
Thomas Cook CDS auction set for two deliverables1 month ago
Market participants have until 5pm London time (12pm New York) on Thursday to challenge the supplemental list for an auction to settle CDS referencing Thomas Cook Group, which so far looks like it will have two deliverable obligations
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