Bank debt investors step back from seniors
Credit traders are betting that the difference between spreads on senior and subordinated European bank debt will compress further

Credit hedge fund manager revs up returns with Aston Martin play
A London-based credit hedge fund recently put on an outright long position in the senior secured bonds of a UK-based luxury car maker

Fallen angel bid drives metals credit tighter
Company's spreads move tighter this week despite downgrade to junk status on Tuesday

Investors drive Telecom Italia bonds up as they look to cover shorts
Delayed rally in Telecom Italia bonds sparks speculation of short covering

Distressed traders place bets on Harrah’s bonds
Distressed debt investors have moved to buy up short-dated bonds from the former Harrah’s

Renewed turbulence buffets European peripheral corporates
Bonds from peripheral European credits continued to slide yesterday

Dynegy bonds rally sharply on bankruptcy plans
Bankruptcy deal seen as a good deal for bondholders, driving prices up

Distressed bid pushes up energy company's bonds despite new woes
A troubled US energy company has seen its bonds rise in price even as its problems grow

MF Global bonds plunge as broker enters bankruptcy
Precipitous drop for bonds which traded above par a few weeks ago 

US financials paper rallies as dealers look to close short positions
Street caught out by 'vicious short covering rally' with real money sellers playing hard to get

Dealers quote low recovery as Kodak denies bankruptcy rumours
Credit derivative traders are betting that if Eastman Kodak defaults, it will recover low

Caesar’s bonds fall on fears of hedge fund selling
Bonds issued by Caesar’s Entertainment fell further yesterday, after suggestions that a hedge fund needs to offload them to meet redemptions

Chemicals merger drives European high yield trading
European high yield focus today is on the announcement by Belgian chemicals firm Solvay that is to acquire French rival Rhodia

Trading desk recommends Lafarge bond 'picks' and pans'
BNP Paribas’ trading desk has put forward ‘pick’ and ‘pan’ recommendations on Lafarge bonds following the company’s recent downgrade

Data company rallies on loan extension proposal
One of the biggest high yield names rallied after announcing an amend-and-extends yesterday, despite a moderately weaker day for corporate credit generally

Retailer's finance subsidiary gaps in on talk of orphaned CDS
Retailer's finance subsidiary gaps in on talk of orphaned CDS

New junk bond tops US secondary market trading
Newly issued bonds of a junk name have been among the most actively traded today

Pactiv widens as bidder looks to remove buy-back clause
Reynolds Group may be trying to avoid buying back Pactiv’s debt if its bid for the rival packaging company goes ahead

Trading desk recommends bank sub-CDS play
BNP Paribas’ credit trading desk has recommended a relative value play on two banks' subordinated credit default swaps

Trading desk recommends bullet versus callable bond play
BNP Paribas’ trading desk has recommended a relative value play based on euro-denominated callable versus bullet lower tier two bonds

New issue bonds rise sharply amid high yield buying frenzy
The jumbo bond issue from aircraft maker Bombardier was the centre of focus for the US high yield market yesterday

Media firms' refinancing plans prompt trader interest
There has been trading interest around media names today