Riskiest names lead US credit rally as big number looms
US companies at the wider end of the high yield market have led the market's repositioning rally ahead of Wednesday's key inflation numbers, as investors brace for what could be a directional signal for Federal Reserve policy

Credit rallies ahead of key inflation numbers
Credit markets have made a corrective turn towards tighter spreads after several successive sessions of deterioration, as investors position ahead of this week's key US inflation numbers

Telco provider jumps wider as market downturn extends
The bearishness that reasserted itself in the opening sessions of 2022 has spilled over into a second week, as investors anticipate elevated US inflation numbers that will put the focus back on central bank rate hikes and asset purchase tapering even as covid-19 cases hit new heights

Credit awash with volatility in first week but investors load up
It has been a volatile opening week to the year for credit, but one in which investors have allocated bullishly to credit funds

Caution returns to credit trading following tech sector rout
After a strong Tuesday session, financial markets are taking a more cautious step back on Wednesday amid returning inflation concerns and following a weak session for Chinese tech stocks

Travel cos look sunny as credit returns with wind in sails
European credit is off to a positive start for the year, with a 3bp rally in iTraxx Crossover taking it to its tightest print since the 20 September roll

Aoyuan CDS needs physical settlement as credit event fails auction liquidity rule
Holders of CDS referencing China Aoyuan will have to physically settle contracts, the Determinations Committee has confirmed, given a lack of depth to markets for the entity

Credit gives up some gains after central banks’ hawk party
Credit markets are ending the week on a correction wider after central bank-led bullishness drove spreads to their tightest levels of the month

"If omicron paradoxically lowers the temperature of the market, that may be no bad thing"
The global economy is well protected against omicron — and a mild infection may be beneficial

Banks and loans to benefit in 2022 as safe havens dwindle
Safe havens and sector pitfalls are among some of the top considerations for portfolio managers this year, as a consensus forms that credit could suffer versus other asset classes

ESG template fires up hopes of CSO issuance
2021 may not have been a year of big volume in the synthetic bespoke market, but primary business is back, and decisive inroads into environmental, social and governance (ESG)-focused issuance bode well for 2022

Credit takes confidence from central banks turning hawkish
In a remarkable twist on the previous narrative, credit markets have reacted positively to a hawkish turn in central bank policy even as daily covid cases surge to new heights

Fund performance: CLO funds deliver again, but third of all funds post losses
CLO funds took six of the top 10 spots in October in a continuation of the previous month’s strong performances. However, a consistent showing from Wasserstein in the US high yield category has claimed the top spot for the last two months

Credit hedge funds (January 2022)
Credit hedge fund returns

Ucits at a glance: Robus and Altana dip but stay at the top
In October, Ucits funds continued a slide that had begun the previous month with 60% of them in the red

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

CLO funds shine amid the gloom with unmatched returns
Credit funds stumbled in October, with European high yield, emerging markets and long-short strategies the weakest performers, according to Creditflux data, as several funds in these categories suffered losses

Brace yourselves for increasing ESG basis in credit
One of the safest bets in credit for 2022 is that ESG focus will intensify, with market participants anticipating a surge of green bond issuance as well as widening spread dispersion between climate leaders and underperformers

Determinations Committee agrees to rule on first credit event question in 10 months
Credit event triggers are back on the market's list of discussion points for the first time since February, with the Determinations Committee having agreed to rule on an Asian failure to pay question

Credit Fundraising: mega funds contribute to record-breaking month as volume hits $39bn
The sheer size of the funds raised in November more than compensated for a drop in the number of funds raised as fundraising volume in credit reached $38.9 billion. This beat September by $2.4 billion to make it the most productive month of credit fundraising in 2021

Financials lead rally at start of big week for central bank decisions
Credit markets are beginning on the front foot again on Monday, with a rallying move that builds on last week's strong run in which European spreads improve for five days straight

French media company rallies hard on accelerated sale
Credit and sector specific moves in the high yield market are outpacing the overall direction of travel of indices, where there is divergent performance between Europe and the US

Financials lead way as IG credit outperforms
European banks are among the biggest improvers as investment grade credit takes a sharp turn tighter on Thursday

Leisure and retail companies improve despite UK rates and travel rule noise
Easing of market tensions around the omicron covid variant have allowed traders to broadly mark single name credit spreads tighter on Wednesday, despite caution returning to indices over central bank policy and travel restrictions

US leads charge in strong relief rally
Credit markets have entered a relief rally on rising optimism the omicron covid variant will not prove as severe as had been feared