Russia oil ban accord unites markets in sell off
EU leaders’ compromise agreement on banning Russian oil imports by sea has presented a united front few may have thought possible only days ago. But financial markets have not reacted positively, with risk assets selling off as the euro slumps and oil hits its highest level since March

Asia sets pace for Europe as rally extends in US absence
Credit market investors have resumed their optimistic stance on Monday, buoyed by a weaker US dollar and China reopening its economy after lengthy covid-19 restrictions

Yandex posed to DC as restructuring credit event
Yandex, the multinational internet and search engine company that serves Russian language users, has been posed to the Credit Derviative Determinations Committee as a restructuring credit event

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

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

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

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

German property co hits new wides as investors scrutinise investigation report
The bearish momentum that gripped financial markets on Friday has spilled over the weekend into Monday's session, with an especially big move in the debt of one German real estate borrower taking it to worrisome spread levels

Potential failure to pay has occurred on Russian CDS, says Determinations Committee
The Russian Federation is moving closer to triggering a credit event on foreign debt, with the Credit Derivatives Determinations Committee having ruled a potential failure to pay has occurred

Heavy mood greets Europe’s return as earnings and rates policy weigh
The European market on its return after the long weekend is greeted with another sizeable push wider in spreads, with focus on US Federal reserve policy, this week’s round of corporate earnings and the prospect of US 10-year inflation linked bond yields turning positive for the first time in two years

Credit rally revives as investors scour ECB for Easter eggs
Credit spreads are taking a turn for the tighter on latest European Central Banks statements, at the end of a short week characterised by flatter index trading but persistent single name volatility

RusRail no-auction vote means CDS holders must track down bonds
Russian Railways CDS contracts will not be settled via auction despite the borrower having triggered a failure-to-pay credit event, the Credit Derivatives Determinations Committee has ruled

Skew in focus for second day as single names move sharply against index
Credit indices are trading out of sync with their underlying constituents for a second day this week, with single names broadly widening despite investors seeking to maintain flattish macro positioning

US oil drive boosts credit, but property firm goes against the flow
US moves to increase oil supply have prompted financial markets to resume rallying, after Russia dampened optimism on peace in Ukraine. But one European company is moving sharply in the other direction

High yield gap yawns open after US index roll
A market rally ahead of Russia/Ukraine peace talks has added to the gap between European and US high yield credit derivative index spreads, a day after CDX HY rolled into a new on-the-run series

Credit rally extends as investors welcome hawkish but clearer Fed message
Credit markets have carried their rally over to another day, fuelled in part by what investors have interpreted as a hawkish but clear message from the US Federal Reserve on policy tightening

China pledges and Russia/Ukraine peace hopes drive relief rally
Credit markets have surged tighter on Wednesday, with China's pledge to support covid-hit markets and hopes rising for Russia-Ukraine peace discussions ahead of US Federal Reserve policy moves that are widely thought to have been priced in

China's covid response fuels regional dislocation and slowdown fear
Asian credit divergence has extended into a second day, with China's move to address rising covid numbers driving regional spreads as investors elsewhere await a closely watched Federal Reserve meeting

Europe leads rally ahead of Fed despite mounting concerns from Asia
Credit markets have begun the week on a firmer tone, with Europe outperforming, despite concerns that rising covid-19 cases in China could add a further source of supply disruption

Nuclear power plant seizure amps up commodity chaos
The high volatility driven by Russia's invasion of Ukraine is taking financial markets to new extremes, with credit ending the week once again hitting new widest spreads since mid-2020

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