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

Aoyuan credit event does not require auction settlement: DC
No auction is required to settle CDS contracts referencing China Aoyuan, the Determinations Committee has decided – despite the property developer having triggered a credit event

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

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

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

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

Relative value traders seize on fleeting mismatches
The volatility that hit credit markets from mid-November has produced rare opportunities for relative value traders after a dearth for 12 months

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

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

Italy underscores market caution as credit traders fail to reward upgrade
Credit markets are finely poised on Monday as traders look for directional signals, following one of the most volatile weeks in recent times

Euro bonds set to outperform US despite big fund outflows: BofA
The November credit crash has left Euro investment grade bonds wider than those in the US, a rare occurrence that sets the scene for a January rally, say Bank of America credit strategists

European high yield recovers ground on US as vaccine optimism mounts
A rocky week for financial markets is nonetheless ending with European high yield credit spreads markedly tighter than where they began, with  US underperformance re-establishing the transatlantic gap that prevailed before the omicron blow out

Global credit spreads trade out of time amid omicron whipsaw
The sharply oscillating action in credit spreads is evident for a fifth day straight on Thursday, but the timing of market reactions is taking US and European daily performance out of sync

German real estate firm gains relief as credit spreads see-saw
Adler is among the biggest improvers in credit markets on Wednesday, as the week's heightened volatility brings another big shift tighter for indices

Axa IM raises €1.2 billion for SRTs
Axa Investment Managers has closed Partner Capital Solutions VIII, a significant risk transfer (SRT) strategy, at roughly €1.2 billion, according to an announcement.

US extends broad hit on credit but German resi giant faces personal dramas
Travel related companies are among those hit hardest in credit as the Tuesday sell off deepens with the US trading session, but investors in German real estate company Adler have endured a torrid day as they digest its third quarter results