SovX rallies as Italy and Spain secure lower yields in debt auctions
Italian yields halved compared to previous debt auction

French banks move tighter despite negative leaked SocGen memo
French banks move tighter as credit tightens in general

Eastman Kodak CDS holds steady as equity plunges
Reports that Kodak is considering entering bankruptcy proceedings

Sovereigns open 2012 in familiar widening fashion
Spain and Italy amongst biggest movers, France also hit

Core sovereigns hit again as S&P warns of possible downgrades
Core sovereigns go wider on S&P warning, peripherals largely flat

Troubled borrower's curve steepens as traders change bets on default timing
December 2011 CDS tightens sharply

Technicals could drive up secondary loan prices into year end, say speakers
A sharp imbalance between US leveraged loan supply and demand could drive secondary prices up sharply in the remaining weeks of this year

Near expiry credit tranche leaps on Kodak rebound
Yesterday saw dramatic moves in a close-to-expiry index tranche which has been a big focus of attention in the correlation trading world

Dealers lobby for reporting delays in Europe’s ‘Trace’
Plans to create a European version of the Trace bond reporting system are becoming more concrete

Financials move wider on failure of Greece to meet targets
Financials move wider as Greece may need more bailout funds

Kodak collapse leaves popular tranche play overexposed
The dramatic collapse in Eastman Kodak’s perceived credit standing in the last two trading sessions has made bid waves in the tranche trading world

Norwegian paper-maker denies it is at risk of breaching covenants
S&P claims there is now a 'near-term risk' of a covenant breach

CFTC suggests longer timeframe for CDS clearing switch
The Commodity Futures Trading Commission has proposed new regulations that would give some market participants more time to move derivative trading, including credit default swaps, to electronic executions platforms

Homebuilder spreads jump wider after downgrade
Fitch downgrades US homebuilder on weaker housing market and declining liquidity

Correlation desks grab senior protection on systemic concerns
Correlation desks grab senior protection on systemic concerns

NewPage debt moves higher on coupon payment
NewPage's debt inches higher on news that it has paid coupon due today

Paper maker gets coated in bond trading 'bloodbath'
Traders reported a ‘bloodbath’ in a troubled paper-maker second lien bonds yesterday