CDS auction reveals huge confusion about value of Abengoa bonds
Abengoa bonds price at less than five cents on the dollar 

Bond market update - while you were away
Major commodities downgrade, Portuguese bank bond moves and Chinese default risk keep bond markets interesting over holiday period

Fitch predicts 2.5% loan default rate as energy credits run out of steam
US leveraged loan defaults are expected to hit 2.5% in 2016, according to Fitch Ratings

Ukraine defaults on bond to Russia, says Bloomberg
€3 billion bond from Russia to Ukraine will go unpaid 

Abengoa’s filing is a default for some, says Isda
Isda rules that Abengoa's filing for credit protection for older contracts 

Isda puts off second decision over Abengoa
Determinations committee to reconvene over Spanish energy firm

Pimco and others sue Citi over MBS losses, reports Reuters
Reuters reports that Pimco is among a group of investors suing Citi over losses from mortgage-backed securities

No credit event yet on Abengoa, rules Isda
Isda's credit derivatives determinations committee yesterday decided that Abengoa does not (yet) count as a credit event

Default highlights concentration risk in Chinese CLOs, says Fitch
The recent default of China Shanshui Cement Group (CSCG) highlights the concentration risk in Chinese CLO structures, according to an announcement from Fitch Ratings

Defaults will soar next year, predicts Barclays
US high yield defaults will increase sharply in 2016, according to new Barclays research

Metals and mining loan defaults could hit 25% by year end, says Fitch
Loan defaults in the metals and mining sector could hit 25% by year-end if struggling coal miners Arch Coal and Peabody Energy are unable to stave off bankruptcy, according to research from Fitch Ratings

Ukraine’s bond restructuring will trigger CDS contracts
Isda's determinations committee rules in favour of CDS holders 

Defaults are less than 1% of US CLO portfolios, finds Moody’s Analytics
A new research piece by Moody's Analytics looks into the distribution of the almost $3.6 billion of defaulted collateral held by CLOs  

Ukraine CDS holders rush to put credit event question to Isda
Isda's determinations committee accepts question regarding Ukranian restructuring days before maturity

Alpha Appalachia posts lowest US CDS recovery since 2009
Alpha Appalachia Holdings became the latest US high yield credit to produce abysmally low recoveries on its credit default swaps

Alpha Appalachia looks set to become latest low CDS recovery
Isda has set this Thursday as the date to auction bonds from Alpha Appalachia Holdings in order to settle credit default swaps on the name

CLO energy exposure has increased in 2015, finds Barclays
Average energy credit exposure in CLO portfolios has increased this year, according to research published by Barclays.

Beware issuers with two to three year maturity walls, says Barclays
Research into the maturity profile of defaulting issuers shows imminent debt walls may not be a great indicator 

Fitch sees more defaults to come from low oil and commodity prices
Ratings agency raises US high yield default projection and warns 2016 could rise 

Sabine CDS auction result hints at big distressed buy order
Sabine Oil and Gas becomes the latest US high yield name to post a low recovery rate in a credit default swaps settlement auction

Ukraine bank has triggered restructuring, rules Isda
Isda has announced that a credit event has occurred on the State Export-Import Bank of Ukraine