Global markets reel as Russia goes to war with Ukraine
Russia’s invasion of Ukraine is sending shockwaves around the region and far beyond, with the military campaign demanding a sharp reassessment of where the spiralling crisis could lead

European credit rallies in stark discord with deepening Ukraine crisis
Cognitive dissonance looks to be afoot in the credit market on Wednesday, with indices rallying for a second day even as Russian and Ukrainian spreads move to new wides

Investors look to US response after Putin lights touch paper on Ukraine intervention
Credit investors are left facing a what-happens-next moment after Vladimir Putin recognised the Donetsk and Luhansk regions of Ukraine as independent states, paving the way for Russian forces to intervene. In response the US has moved swiftly to impose new sanctions targeting the two regions

French co rattles investors on micro level as Russia overclouds macro
After a cautious opening, investors in the European credit market have resumed hedging as western leaders continue to talk up the prospect of Russia invading Ukraine and the Kremlin has dismissed hopes of a Biden-Putin summit as premature

Investors rush to hedge Russia as barrage of threats tee up nervous weekend
The prospect of a flare-up between Russia and Ukraine has left credit spreads back at their recent wide levels going into the weekend, with European investment grade credit particularly feeling the heat following 'false flag' headlines on Friday

Credit fund rout extends as storm winds buffet from all sides
Another choppy week for financial markets has extended the run of fund outflows, with investors fleeing from all parts of credit and even equity suffering a drop, with government bonds gaining traction

French airline flies against flock on pandemic repayment plans
Air France is a standout improver on Thursday against a backdrop of broad deterioration in single name credit spreads

Scramble to cover shorts extends rally, but analysts stub out tobacco
European outperformance of US credit is picking up despite the UK posting record inflation numbers, as optimism on Ukraine combines with the wrong-footing of investors that had positioned extremely bearishly

Europe drives relief rally after Russia signals troop withdrawal
European financial market volatility has brought another reversal of relative value dynamics versus the US, with Russia/Ukraine developments extending their sway

European panic over Ukraine pushes market to new wides
European underperformance of US credit has resumed at the start of the week, with the market waking up on Monday morning to another sharp sell off. But the lengthening downturn has some believing spreads have overshot, while others insist worse is to follow

Credit and equity fund flows diverge ahead of Fed emergency meeting
Outflows from credit have extended into another week, even as stocks returned to inflows, as speculation mounted the US Federal Reserve could opt for a 50bp hike in March or even an earlier than anticipated hike at an emergency meeting next week

Ukrainian volatility speaks loud and clear after Russia talks fail
Ukrainian and Russian credit are ending the week with renewed volatility, as failed attempts at diplomatic talks appeared to exacerbate rather than simmer down tensions between the countries

Europe outpaces US as investors scramble to cover their shorts
Lifting of short positions has helped take European credit into a second successive day of outperformance against the US, with financial companies and some of the more recently volatile high yield names leading the way

Europe leads relief rally with energy and peripheral bank credits outperforming
Credit spreads are making a broad move tighter on Tuesday, with European Central Bank president Christine Lagarde having tried to rein back rate hike expectations and oil company BP posting strong profits

European underperformance extends against US with another big sell off
The underperformance of European credit versus the US has extended at the start of the week, with investors still struggling to digest the impact of last week's European Central Bank meeting statements

Europe/US relative value comes into play amid growing credit outflows
Big successive moves wider are taking credit spreads to new extremes and bringing compression between Europe and the US amid the highest daily market volatility since 2020

Investment grade hit hardest as tech earnings and rate hike undo market rally
Financial markets have reversed course following two days of improvement, with credit spreads hit by poor tech company earnings and a Bank of England rate hike

Credit hedge funds (February 2022)
Credit hedge fund returns

They said it: "The third term is Jinping’s legacy..."
... He does not care about near-term growth."

Ucits at a glance: Robus claims top spot in 2021 after tight race
Ucits funds have ended 2021 on a high as 62% made positive returns in December

Bond pipeline builds as rocky markets thwart supply
Various factors have played into credit spreads widening at the start of 2022, but an over-supply of bond issuance is not one of them — in contrast to what was moving the market this time last year

Financial-corporate compression in play as relief rally extends
Credit markets are experiencing a second day of improvement, with financials outperforming corporate borrowers in the investment grade arena

Troubled high yield credits go against flow as market rallies
Credit markets are beginning February with a more buoyant mood, but idiosyncratic volatility is keeping investors on their toes with several European high yield single name credits making big moves

Eerie calm breaks as bears return to feast
After what looked a calmer and even buoyant start, credit markets have again pushed wider on Monday as investors wrestle with competing view on outlook for central bank policy