Compression trade resumes as reverse rally bites on shorts
This week's relief rally gathered momentum in credit and equity markets on Thursday against a further retreat of government bond yields, even as oil prices hit new highs

Casino's hand improves as credit eases off year's wides
Credit markets have taken a turn for the tighter, with spreads broadly rallying, amid a retreat of oil prices and government bond yields

Frosty times for UK retailer as credit hits new wides
Frozen food retailer Iceland is heading into the riskiest reaches of the iTraxx Crossover spread dispersion, where few other constituents tread

Adler rally gains extra LEG as rest of market slips on oil
Few credits have escaped widening pressure in a dour start to the week, but Adler Group has extended its relief rally after agreeing to sell part of its property portfolio

US debt talks and German real estate regain composure after damaging wrangles
Adler Group is ending on a firmer footing what has been a rocky week for the German real estate company, as credit heads into the weekend unmoved by developments in the US on raising the country's debt ceiling

"If ESG funds only talk the talk, it is because investors, legislators and regulators don’t walk the walk"
Whatever an ESG fund means to you, it probably means something different to the next investor

Credit hedge funds (October 2021)
Credit hedge fund returns

Ucits at a glance: Angsana recovers from July slump
Just under 75% of Ucits funds made positive returns in August, holding steady from June and July

Hedging picks up as dip-buying is weighed against inflation
Inflation and rates will be the central drivers of credit market performance into the end of the year and beyond, investors and strategists agree

French hedgers price in election six months ahead
The CDS market is well known to be more reactive than cash credit to changes of sentiment. However, a growing fixation among participants to price in macro and political risk ahead of time appears to have hit an extreme in the case of French presidential election hedging — more than six months before the country goes to the polls

German convergence as travel co surges inside troubled real estate firm
Amid rocky markets there has been a tale of two diverging credits in the European high yield market on Wednesday, with two of the riskiest names passing each other on sharp convergent moves

Credit suffers double punch from treasury and energy surge
Credit markets are nursing their wounds after taking a battering on Wednesday, prompted by a surge in oil prices and spike in government bond yields that add to concerns about rising inflation

Squarepoint takes over from CSAM as it supports star trader's new long-short credit fund
Arini, led by highly regarded former Credit Suisse trader Hamza Lemssouguer, has found support in Squarepoint Capital as it launches its first European credit fund

German real estate co surges tighter on asset sale review
Adler Real Estate is a big improver in European credit at the start of the week, after the company notified investors that Adler Group will initiate a strategic review as it looks to cut leverage

German real estate co hits new wides as single names catch up with index rout
Adler Real Estate is again one of the biggest movers in the European credit market, as the week comes to a bearish close and October begins with heightened uncertainty

Adler resumes downward slide as European real estate woes mount
Market sentiment is weighiing heavily on European real estate once again, with Adler bonds and CDS in particular adding to their recent deterioration

Investors shrug at new Evergrande bond deadline a week on from roll havoc
Chinese real estate giant Evergrande looks unlikely to meet a $45 million bond payment due on Wednesday despite reports it plans to sell a $1.5 billion commercial bank stake. But credit markets are showing very little reaction despite initial default concerns having up-ended CDS index rolls only last week

Healthcare M&A offers diverging prognoses in high yield as market recuperates
Grifols, the Spanish healthcare business, is making a push wider at odds with rallying markets, having brought €2 billion equivalent of bonds to back its acquisition of European plasma player Biotest

Chinese power crunch brings off day for credit as investor optimism dims
Concerns about a China slowdown, Germany's election result, rate hikes and the US government's inability to lift its debt ceiling have contributed to a sharp move wider in credit, as investors attempt to digest a variety of big unknowns

HY set to roll after rocky week scuttles investors
Market participants are holding their breath ahead of the roll of US high yield index CDX HY, after a week of volatility and fund outflows

Credit rally extends as Fed hurdle passes and Evergrande views evolve
Credit markets are rallying for a second day, after the US Federal Reserve meeting indicated a shortening timeline to rate hikes but no shocks. A key deadline for China Evergrande bond payments still overshadows the Thursday session, but investor expectations have gravitated to a more localised impact for any fall out

Barclays fills gap by hiring global macro credit trading head in New York
Banks are moving quickly to make sure they are staffed up in credit trading with Barclays bringing in an experienced trader in New York

Credit optimism returns on Evergrande and Fed but big questions loom large
Credit markets have moved onto a firmer footing, with one day of this week’s US Federal Reserve meeting out of way and troubled Chinese real estate behemoth Evergrande having negotiated a domestic yuan bond payment. But there is plenty of room for upset in the coming sessions

Real estate panic brings turbulent changeover for credit indices
New credit derivative index series have emerged at much wider levels, after a turbulent market rout made roll day more challenging for participants

Dealers tweak IG roll changes but rising star HY names still don't make cut
Dealers have revised their list of provisional changes to the CDX IG investment grade index ahead of its roll to a new series next week, with administrator IHS Markit citing recent trading activity as reason for the move