Fund outflows extend despite sharp improvement in credit performance
This has been a much better week for credit and equity market performance than last, but that has not stopped the tide of investors looking to withdraw their money from funds for such risk assets

Retailers, travel cos and Italian banks lead charge as market rally accelerates
Retail companies have been resurgent on Thursday as the credit market’s relief rally gathered pace, with Europe seeking to catch up with the US following its strong surge

Bespoke bond baskets on the rise as investors seek targeted portfolio trades
High yield index replication and accessing illiquid exposure are two factors building momentum for a new investment approach that bundles bonds into a single risk piece

Property giant takes a tumble as European fortunes diverge
Adler Group, the German real estate giant, is once again coming under intense pressure in the credit market amid reports the country’s financial watchdog has begun a criminal investigation into its dealings

Credit off to stronger start as dollar longs get squeezed
Financial markets are off to a better start this week, with risk assets repairing some of their recent damage as the US dollar eases back from the highs it has hit against other currencies

Credit fund bleed out looks hard to stem, as hawks ignore macro gloom
Ever more investors are running to safety as risk assets tally up another rough week, with strategists warning there is no end in sight for credit fund outflows while central banks hold their course on rate hikes

Bond / CDS basis in play as heavy market rout extends
The rout of financial markets has resumed at pace on Thursday, with sizeable moves that add to relative value disparities between cash and synthetic credit

US retailers hit hard as inflation and dollar spark big sell-off
Inflation worries and a strengthening US dollar have once again upended the credit market’s fragile confidence, taking spreads on a violent lurch wider with the US underperforming Europe

European markets give up some gains after outperforming US
Credit and stocks have improved on Tuesday, as investors attempted a momentum shift, but Europe is already giving up some of its gains after outperforming the US for a brief spell

Investors hold tight amid Chinese slowdown and Nordic affront to Russia
Financial markets are opening the week on a cautious tone, as Chinese economic data weakens the global growth outlook and new Nato applications intensify the stand-off with Russia

Credit retreats from wides, but worrisome test levels remain in view
Another rocky week for markets is ending with credit finding a firmer tone. But big questions remain unanswered about relative value and the levels some sectors could test

Europe feels Arctic chill while currency and tech woes add to fear
European markets have again taken a bearish turn on Thursday, with Finnish Nato aspirations, the strengthening US dollar, persistent inflation and slumping tech stocks adding to investors’ deepening dismay

Credit and equity retreat from extremes but oil slumps further
Financial markets are mounting a tentative recovery on Tuesday, having been hammered to new bearish extremes at the start of the week

Stalling growth engines leave market in deeper turmoil
Financial markets are starting the week in another heavy slump, with credit hitting new wides as various asset classes take a beating from economic growth fears and the prospect of a recession in Europe

Post-Fed volatility prompts stark reassessment of credit relative value
Central bank policy moves have caught markets off-guard, with volatility ensuing and spreads hitting new wides 

US / European high yield compression trades win as Fed unveils new hiking regime
The remarkable recent outperformance of US credit derivatives index CDX HY has reached a key juncture, with reaction to the Federal Reserve's announcements causing it to trade inside European counterpart iTraxx Crossover

Fund performance: Credit bounces back from February blues
March performance figures were a slight improvement from the market turn in February; 47% of funds made positive returns, an increase on 17% the previous month

Credit hedge funds (May 2022)
Credit hedge fund returns  

Ucits at a glance: Robus stands tall among Ucits funds
27% of Ucits funds had positive returns in March, a slight improvement from 10% in February

Dispersion begets dispersion in mixed bag of fund returns
Idiosyncratic risks are set to rise in credit, with fund managers becoming occupied with tail risks, and that has been seen in a scattered set of March hedge fund returns

SEC's CDS proposals could impede market rather than help it: Barclays
New rules proposed by the US Securities & Exchange Commissions to tighten oversight of the CDS market could mean big changes for the market and have the effect of sapping activity, warn Barclays credit strategists in a note published on Thursday

Tech and supply chain concerns take credit back to year's wides
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

Big swing for high yield property co as bears make new push
Credit trading has turned decidedly bearish again as the weekend approaches, with investors bracing for a host of market-impacting developments. This has brought a particularly volatile reversal in performance for one European high yield borrower

US high yield outperforms as credit adds to rally
French equipment rental company Loxam is among the biggest movers as credit markets rally for a second day, but US high yield is having the better week