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.

Ucits at a glance: Ucits see red in a tough June for returns
June marked an exceptionally tough month for Ucits funds, as none of those listed in the Creditflux database made it into the black

Credit hedge funds (August 2022)
Credit hedge fund returns  

Market rides out China-US fray with oil, rates and jobs back in focus
US and European credit markets are exhibiting a firmer tone on Wednesday, with investor focus having shifted from Taiwan concerns to Opec+ oil supply. But a looming Bank of England rate hike and US jobs data mean caution remains the watchword

China concerns fuel sell-off, but technical trading drives Euro-US relative value shift
Another lurch wider for spreads is reopening some of the recently healed divide between European and US credit performance, even though US-China relations are among investors’ biggest growing concerns

BofA brings in European corporate credit research head
An experienced credit strategist has landed at Bank of America after leaving Credit Suisse  

Italian rally extends as Europe opens week on stronger tone than US
Improvement in Italian spreads is helping the European market maintain its better tone at the start of the week, but after July’s rally many investors will be wary at entering a month that has often been negative for credit performance

Relief rally extends despite US and EU sending mixed signals on recession
Growth and inflation data on Friday has added impetus for the European Central Bank to maintain a hawkish stance at its September meeting, despite US signals suggesting that economy is in recession

Fed gives boost to markets, but warm glow may wane fast
Financial markets are carrying over the rally they began on Wednesday, after the US Federal Reserve appeared to signal it could ease its foot off the pedal with future rate hikes

US tech earnings fuel relief rally even as Europe's gas supply drops
Stronger than anticipated earnings at US tech giants have boosted financial market sentiment and brought a relief rally to credit following yesterday’s sell-off

Russia and retail put stop to credit rally with big spread reversal
Russia’s move to cut gas supplies once again to Europe, as well as a Walmart profit warning in the US, are weighing heavily on markets Tuesday and sending credit spreads sharply wider

Credit PM pair seek galaxy of opportunities with long/short fund manager launch
Two experienced portfolio managers have set up a new venture to take advantage of volatile markets

Credit Rendezvous: Investors try to avoid suplex city as recession and inflation reform tag-team
Credit investors getting ready to lock up against that familiar 1970s pairing of inflation and recession. But the hard-hitting tag team has picked up some new moves, causing floating rate outperformance to give way to underperformance; synthetic credit to outperform cash; and CLO terms curves to reshape into barely recognisable positions

Relief rally lifts markets despite Italy turmoil adding to ECB headache
Financial markets look to be heading to the weekend on a slightly firmer tone, as investors ease back from their bearish positioning of recent sessions

Citi promotes structured credit specialist to top Emea credit trading role
Another senior official in Citi's credit team has been promoted

Italian rout gathers pace as credit relationships warp well beyond historical norms
Renewed selling pressure on Thursday has taken credit spreads back towards the year’s wides, with financial borrowers underperforming as Chinese covid cases, US inflation and a drought in Italy all weigh on sentiment

Europe takes brunt of spread blowout as US inflation exceeds forecasts
The gap in performance between European and US credit has yawned wider on Wednesday, with investors adding hedges indices in response to a key inflation number that came out higher than expected

Algebris adds second PM in two months to credit opportunities team
Algebris Investments has hired a co-portfolio manager for its Global Credit Opportunities strategies

Euro credit drives wider as currency hits parity with dollar
Caution ahead of the latest US inflation numbers, weakening commodity prices, and the euro falling to within touching distance of the dollar have taken financial markets on another downwards push, with European credit again an underperformer

IG payers provide best tail-risk hedges: Barclays
Investors seeking the cheapest tail risk hedge should look to CDX IG payers, while iTraxx Europe payers are the best hedge against further European underperformance, finds Barclays

Mixed signals abound but European weakness persists
European financial markets are losing further ground against the US in a cautious start to the week, as the euro approaches parity with the dollar for the first time and latest data supports the Federal Reserve maintaining a hawkish approach to policy

Go long duration in consumers and industrials: BofA
The year’s wides still lie ahead in the second half, but China reopening is bullish for consumer and industrial spreads and investors should extend duration in high-quality credit, according to Bank of America strategists

Europe leads relief rally while UK gets Borexit done
UK prime minister Boris Johnson’s resignation has brought a collective sigh of relief across all political parties on Thursday that finds pathetic fallacy – but little attributable causal connection – in a strong relief rally in European financial markets

Credit hedge funds (July 2022)
Credit hedge fund returns

Ucits at a glance: LBBW shines as Ucits take a turn for the worse
Ucits fund returns