Don’t expect iron and coal producers to recover, warns Barclays
Barclays credit research argues that while commodities are wide, they can go wider, particularly for coal and iron miners 

Morgan Stanley advises climbing the capital structure in Asia
Morgan Stanley research claims that rising Asian leverage is a concern but not a crisis and investors should look for seniority

Call risk is back for European high yield, says Morgan Stanley research
With single B rated credit yielding under 7% in Europe, call risk is back on the table, claims Morgan Stanley 

Fitch warns of headwinds to European utilities
Ratings agency warns that high debt and declining market share pose sector-wide risks to European utilities

Credit Agricole sees step-up value in softening telecoms sector
Certain bonds may gain from a softening in the European telecoms sector 

Buy investment grade supermarket debt, says Barclays research
Barclay’s US Credit Alpha says US supermarkets have room to tighten. 

Credit Suisse research advises selling the iTraxx roll as a curve trade
Sell the iTraxx Main roll as a curve trade but the Crossover is harder to call says Credit Suisse research

RBS sees value in Spanish regional credit
RBS research recommends playing disparity between regions within Spain

Triple C credits put in impressive September performance, says Citi
Triple C credits outperformed other segments of US high yields market in September

Investors should look to Irish debt and shun Spain, says RBS
Irish debt a better investment prospect than Spanish counterpart says RBS in new research piece released this week

JP Morgan cools on credit and urges investors to buy downside protection
New research says investors should seek to get some downside protection

UniCredit recommends buying protection on Fiat
UniCredit analysts recommend selling five-year protection on Fiat at 325 basis points and buying five-year protection on Renault at 290bp.

Buy iTraxx super-senior protection, says BofA/Merrill
In light of central banks’ intentions to sustain base rates, Bank of America/Merrill Lynch credit derivatives strategists recommend buying protection on the iTraxx super-senior tranche.

Post-distressed exchange credits outperform, says BofA/Merrill
Bank of America/Merrill Lynch credit analysts conclude that both their existing and new bonds returned 91% so far year-to-date.

Goldman closes out correlation short recommendation
Goldman Sachs credit strategists closed their investment grade short correlation trade yesterday

Buy Gazprom 2015 bond, recommends UniCredit
UniCredit analysts recommend buying Gazprom’s 2015 bond.

Switch from Renault to Fiat bond, says UniCredit
UniCredit analysts recommend switching from Renault’s bond into the Fiat’s bond.

Maintain credit positions for sluggish recovery, recommends Deutsche
Investors should maintain credit positions for now, while accumulating long-spread positions by either selling treasuries, or paying fixed on interest rate swaps, says Deutsche Bank

UniCredit recommends CDS pair trade in electricity sector
UniCredit analsts recommend a credit default swap pair trade on Edison and Gas Natural, by buying five-year CDS on Edison.

Goldman identifies refi-risk corporate curve opportunities
In its credit research this week, Goldman Sachs posited potential curve steepeners, identifying names with higher-than-normal refinancing risk.

US and Europe investment grade inflows diverge, says JP Morgan
JP Morgan’s most recent credit research highlights the divergence between inflows from retail investors to US investment grade credit and inflows to sterling and euro-denominated funds.

UniCredit recommends Portuguese bank negative basis trade
UniCredit analysts recommend a negative basis trade on Banco Comercial Portuguese

Equity-credit divergence plays still attractive, say strategists
BNP Paribas analysts point out the recent divergence between equity and credit.

2010 to be year of alpha generation, says Goldman Sachs
Goldman Sachs strategists foresee credit markets with improved risk-rewards of relative value and lower correlations, thus bringing about differentiated recoveries across different asset classes.