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

Euro loans with FX hedging offer better value than US: Barclays
The big underperformance of European loans in June has left them looking cheap versus those in the US – but FX hedging and a nuanced selection process are advisable for investors looking to take advantage of that

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

HSBC AM's responsible investing head resigns with view to creating "new asset class"
HSBC Asset Management’s global head of responsible investing has resigned after been suspended by the firm. This followed him delivering a conference speech in May in which he downplayed the impact of climate change on financial markets

Fund performance: Rocky May piles on the misery for credit hedge funds
Negative fund performance soared in May

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

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

Europe vs US arb hits resistance as dislocation becomes more extreme
Recession fears have pushed several different asset classes to key psychological levels, while leaving European and US credit markets at a high level of dislocation

LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus...

Euro markets slump against US after slowdown signals drive sell off
European credit is once again underperforming the US, after data pointing to economic slowdown sent the euro to a 20-year low against the dollar

CLO spreads are not pricing in recession: JP Morgan
CLOs are priced fairly for a growth slowdown but not a recession, according to JP Morgan credit strategists, who warn spreads are at risk if US growth contracts

Credit tacks sharply as hiking talk brings choppy start to week
European financial markets opened the week on a cautious footing, after a weak Asian session, with credit indices oscillating between wider and tighter prints over the course of Monday morning

EU inflation prints frame challenge ahead as horror show first half ends
Financial markets are heading into the weekend with a rare stationary session, but the mood is more one of shellshock than considered positioning, after one of the worst first halves to a year on record

Energy co joins Europe's choir of fallen angel candidates as spreads soar
The financial market sell-off is entering acceleration, with credit indices blowing to new psychological levels and a growing number of investment grade companies reaching high yield spreads

Consumer confidence shock sends spreads back to wides
Weak US consumer confidence numbers on Tuesday sent shockwaves through markets that are continuing to reverberate in Wednesday's trading session

Property firm's troubles mount while rest of market rallies
Financial markets have opened the week brightly on a mix of improved sentiment and technical repositioning. But one European high yield company is heading further into stress, against the flow

Skew opens up as indices pivot following broad sell off
The opening of the US session on Thursday has brought a firmer tone, after European and Asian markets extended their weak run. But the reversal in index direction has left single name credits still sitting at much wider spreads

CLO managers added to their pool of analysts last year: Fitch
CLO asset managers staffed up last year as primary issuance volume soared, with Fitch Ratings finding the average analyst team size increased from 16 to 17

Energy firms underperform in credit sell off as oil prices slump
Investment grade credit is the underperformer on Wednesday as the market pivots wider amid negative economic signals and ahead of US Federal Reserve chair Jerome Powell’s appearance before Congress

Credit rally gathers momentum as Fed pitches for credibility
European credit’s relief rally has extended on Tuesday, with US stock futures pointing in a positive direction on return from the country’s holiday and the US dollar slipping a touch against the euro

Credit lacks 'good answer' on what could cap spread widening: JP Morgan
Without any clear candidates to put a lid on spread widening, investment grade and high yield credit markets look set to extend much wider than current levels, warn JP Morgan strategists

Fed hike speculation holds sway over Europe and Asia despite US holiday
Credit markets have opened the week marginally tighter, with Europe and Asia cautious on Monday in the absence of a US trading session, and US Federal Reserve statements likely to drive sentiment in the rest of the week