Russia credit event auction starts to firm up as DC mulls settlement options
Russian Federation sovereign CDS will be settled in the first half of September, the Credit Derivatives Determinations Committee has said. But settlement restrictions still require further discussion

Ukraine triggers restructuring credit event
Ukraine has triggered a restructuring credit event, the Credit Derivatives Determinations Committee has ruled

Rising stars, decompression and trade unwinds set to drive September roll: Barclays
Decompression and US / Europe relative value trade unwinds look set to characterise the September CDS index roll, with the prospect of no changes to iTraxx Europe for the first time in recent memory, say Barclays credit strategists

Bears carry market into weekend as Germany adds to recessionary swirl
Germay posting its biggest ever rise in producer prices has not helped the market mood, at the end of a week in which investors have already had to reckon with the hawkish insistence of the US Federal Reserve, spiralling European gas prices and a 10.1% UK inflation print

Credit catches brief reprieve after Fed takes spreads back to pain points
Credit markets are taking a pause from their bearish move, during which European indices once again passed key levels and investors tried to assess the implications of the US Federal Reserve’s July meeting minutes

Credit structuring head lands at Deutsche Bank in expanded role
Deutsche Bank has hired former Credit Suisse global credit structuring head Paul Bajer in a broader remit as global co-head of cross asset structuring

US resumes widening push with Fed in focus
The US credit market is opening on Wednesday with a further push wider in spreads, as traders look to protect their gains from the recent rally

Spreads gap wider with UK inflation adding to cocktail of concerns
Evidence of financial markets hitting a resistance point after three weeks of improvement is growing, with Monday’s bearish shift extending over into early trading Tuesday

Euro credit woes vs US set to resume with cyclicals shock likely: JP Morgan
Further decoupling lies ahead between euro and dollar credit, despite the recent positioning squeeze, warn JP Morgan credit strategists

Ukraine credit event question accepted by DC
The Credit Derivatives Determinations Committee has accepted a request to rule on whether Ukraine has triggered a restructuring credit event, following the country’s agreement last week to defer debt payments

Telcos show strength amid worrisome start to week
Telecommunication companies have had a good start to the week in credit markets, despite caution around latest Chinese economic numbers and reports of droughts in Europe adding to that continent’s energy concerns

Euro IG credit outperforms as US inflation measure fuels euphoric rally
Hopes of the US economy having passed peak inflation have driven global markets on an emphatic rally, beginning on Wednesday and carrying over to the Thursday trading session

Spreads retreat ahead of pivotal US inflation report
Investors are holding their breath on Wednesday ahead of the latest US inflation numbers, with any change from last month’s reading likely to dictate a sizeable move in financials markets

Position cutting tames market rally and strategists warn on primary impact
Caution is the watchword across financial markets on Tuesday, with the strong recent run giving way to hedging and position cutting ahead of a much-anticipated US inflation reading on Wednesday

LP round up: private credit takes big slice of inflows as 10% portfolio share projected for 2026
Institutional investors revealed nearly $4 billion allocations to credit funds in July, with recipients including Angelo Gordon, Apollo, Ares, BlackRock, Brookfield, CarVal, Comvest, Deerpath, KKR, Schroders and Sixth Street

Russian Federation auction list features eight bonds
The lengthening endeavour to organise a Russian Federation credit event auction has taken another step forward, with the publication of a preliminary list of deliverable obligations

Strong rally takes indices back below key levels
A big rally has greeted the start of the new week, in large part fuelled by easing recession concerns following Friday's encouraging US jobs number - but seeminly ignoring signs of further deterioration in the outlook for peripheral Europe

Carlyle names co-founder as interim CEO as Lee steps down
Carlyle Group’s chief executive officer Kewsong Lee has stepped down from this role and the board of directors, effective immediately

Apollo invests $1 billion in IG CLOs, launches secondary solutions platform and cuts BDC fees
In its earnings call, Apollo highlighted the resilience of the CLO asset class, strong deployment in direct lending, upcoming reduction in management fees for its publicly traded BDC and the launch of a new secondaries and sponsor solutions platforn, seeded by Abu Dhabi Investment Authority

ECB acts on inflation but gas and other worries grow worse
If European Central Bank officials breathed a sigh of relief when their first hike in 11 years did not immediately rattle markets — or even dared believe a more hawkish signal helped confidence — the reprieve was short-lived

Convertibles head for recovery after six months stuck in gridlock
Having suffered their worst first half on record, convertible bonds are due better performance if only on mean reversion

German firm takes big hit even as most of Europe gains ground
Adler was an outlier in Thursday trading as it bucked overall market improvement following the collapse of a deal to sell shares in a subsidiary. But the Bank of England soon took the shine off credit sentiment in any case

HPS launches sixth direct lending fund
The firm's previous fund in the series closed in September with over $15 billion of investable capital

UBS says modelling suggests upcoming recession won’t bite
Likely global recession scenarios look mild according to strategists at UBS, who have run four models.

Credit funds at a glance (August 2022)
A round up of fundraising and people moves in credit