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

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

Infrastructure manager targets €1 billion for eclectic mix of project finance debt and SRTs
A Copenhagen-based firm is launching its first credit fund and has partnered with an SRT specialist in London for a component of its potential €1 billion offering  

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

Credit unprepared as Russia and Ukraine spreads go on march
Huge moves in Russian and Ukrainian credit spreads have exposed the growing mismatch between assessments of a likely conflict between the two countries, and the neglect of investors to price in its impact on broader markets

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

Performance dispersion hits index equity correlation
Volatility at the start of the year has intensified moves in iTraxx and CDX index tranches, with traders pointing to growing dispersion in performance among constituents as a theme that will bring more focus on equity correlation in 2022

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

Barclays seeks head of SRT risk
Barclays is looking to hire a head of SRT risk for its wholesale credit portfolio, having established a credit risk transfer programme under the Colonnade branding 

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

Heavy market rout takes credit back to November 2020 levels
High volatility is gripping financial markets at the end of a week that has been decisively bearish for credit spreads, as concerns about the end of central bank stimulus and warnings of a Russian invasion of Ukraine next month layer on pain for investors