Acquisition rumour drives hospital credit wider
Credit default swaps on US hospital operator Universal Health Services widened by some 25 basis points in trading this morning in New York

Lyondell's new bonds trade up in high yield cash surge
Yesterday’s session saw a large amount of trading activity in Lyondell Chemical’s new 2017 bond

New issue bonds rise sharply amid high yield buying frenzy
The jumbo bond issue from aircraft maker Bombardier was the centre of focus for the US high yield market yesterday

Successful bear trader makes new short credit call
A credit hedge fund manager is aiming to tap into the risk adverse mood among many investors by launching a dedicated short credit fund

Loans and crossover buck last week's tightening trend
A relatively quiet week in the credit market saw US leveraged loans and European crossover names buck the trend of modest tightening

HeidelbergCement is still cheap, say trading analysts
BNP Paribas’ trading analysts recommend buying HeidelbergCement’s bonds and buying protection on the name.

Auto spreads blow out on US bail-out failure
Auto credit default swaps are reported to be trading actively in Europe this morning after the US Senate blocked the bail-out plan for the US car makers

Scramble to unwind basis trades
Scramble to unwind basis trades

HBOS wider but other financials in play
Deutsche Bank cited among CDS plays.

IG takes brunt of financial widening blow
LCDX outperforms on price action.

LevX 2 keeping track of volatile Crossover moves
LevX 2 tends to underperform Crossover when it tightens.

Traders fickle and few in tug o' war for credit indices
Traders fickle and few in tug o' war for credit indices

UK building society takes SIV capital note charge
UK building society takes SIV capital note charge

LevX 2 senior index rally keeps shorts in disbelief
Participants are still looking for Crossover to go wider.

Writedowns and rights offerings weigh on European financials
UK banks see more widening in CDS than rest of sector.

TMT mostly tightens as IG claws back
AT&T eases in CDS ahead of earnings tomorrow.

US banks surge inward on Citi results
IG rallies along with bank names.

Deutsche Bank to writedown value of leveraged lending commitments further
Deutsche Bank says CDO and RMBS businesses produced net positive results after hedges.

Standard Chartered banner profit performance helps financial CDS
Alliance & Leicester deals on bid approach.

Forced loan selling keeps pressure on Crossover
Crossover gaps out as loan hedgers buy protection.

Ericsson better offered after brisk run-up in CDS
Ericsson CDS deals tighter today after brisk run-up.

European daily summary 070723
European daily summary 070723

US daily summary 070706
US daily summary 070706