Credit Suisse and UK names lead charge as European IG outperforms
European investment grade credit is rallying strongly at the start of this week, in contrast to a sluggish start by its US counterpart market, with Credit Suisse and UK companies among the outperformers

Credit/equity RV trades work better in selloffs than rallies: Barclays
Investors looking to exploit dislocations between high yield debt and equity would do better to short bonds following equity selloffs rather than buy bonds following equity rallies, according to Barclays credit strategists

Credit volatility leaps after US inflation bolters hawks
Credit volatility spiked on Thursday in the wake of a US inflation report that dispelled any remaining conjecture the Federal Reserve will slow its pace of interest rate hikes at the next policy meeting

Telco bucks market trend with relief rally
United Group, the Balkan-focused, Netherlands-registered telecom group, rallied sharply in credit markets on Wednesday after the company addressed how it would meet approaching debt maturities

UK adds itself to sour global cocktail with investors given another shake
US investors are returning to a sour mood across global markets on Tuesday, with escalating warfare in Ukraine, Chinese covid cases at a two-month high, the Biden administration in a standoff with China over microchips, and the UK still managing to hold focus for economic mishap

Weak opening for markets as BoE makes new intervention and Asia sell-off extends
In the absence of the US market on Monday for the country’s Columbus Day holiday, global markets have extended their bearish direction following US jobs numbers on Friday that point to further hawkishness in the outlook for rate hikes

Credit Suisse rallies hard as rest of market suffers
After a tough week for Credit Suisse, the bank’s credit spreads have ended Friday’s session on a notably better tone than most others in the European market

US jobs strength sends traders scrambling to cut Fed pivot trades
Credit spreads are ending the week on a sharp move wider, with a heavy sell off hitting financial markets in the wake of US jobs numbers that suggest any notions of a Fed pivot on rates are premature

One-year CSOs come to fore as investors predict widening
With credit spreads entering the fourth quarter at much the same elevated levels they began Q3, investors are increasingly looking to bespoke tranches as a way of taking advantage while mitigating the market’s tail risks.

Euro credit rallies in disconnect from US, Asia and equities
Credit spreads are heading tighter in Europe on Thursday, despite weakness in other markets, as this week’s volatile oscillation brings another change of direction

Dispersion picks up as candidates for distress emerge
Dispersion will be a concern for all parts of the global credit market in the fourth quarter, say traders who are focused on relative value

Investors scoop up €228 million of senior European CLOs after record b-wic
Record European CLO secondary volume has been easily digested, with a large $228.2 million b-wic on Tuesday providing a prime example

U-turns abound as markets pivot sharply on government and central bank rethinks
A big rally in financial markets on Tuesday has driven credit spreads sharply tighter, with a softening outlook for central bank actions building on relief that the UK government has opted to U-turn on its poorly received high bracket tax cut plan

US loan index falls below 92 to almost wipe out gains since July
The S&P/LSTA Leveraged Loan Index sank to an average bid of 91.92 cents by Monday, down by two points in as many weeks, wiping out almost all the gains seen in the late-summer market rally

Credit Suisse blow out puts financials in spotlight
Credit spreads have pushed wider on Monday, with underperformance in investment grade, as sharp oil price moves accompanied intensified focus on the banking sector amid a slew of worrying commentary on Credit Suisse

"Ugly" eurozone inflation numbers cap off torrid week for credit
Credit spreads are heading tighter into the weekend, as investors rebalance positions against a backdrop of easing currency pressures but a challenging array of European inflation numbers and a highly charged Brazilian election month about to kick off

European CLOs emerge as gilt-y pleasure for US investors amid record b-wic volume
European CLO b-wics have flooded the market this week with sources indicating elevated supply on Wednesday and Thursday resulted in some of the busiest days on record. Officials at Bank of America say their weekly trading volume approached €1 billion  

Investors nurse wounds after UK scuppers credit expectations
Financial markets are picking up the pieces on Thursday following an extremely volatile session ignited in large part by UK economic mishap, which sparked fears of a financial crisis and necessitated the central bank’s intervention

UK and Italy in focus as credit rout extends
UK and Italy sovereign credit spreads are heading wider on Wednesday, as the market-wide sell-off takes indices to new extremes for the year

Boston-based investor looks to sell entire equity tranche of 2020 PGIM CLO
An unusual equity position is on sale on the secondary market today at 9.30am EST (2.30pm London time) as the entire equity tranche of Dryden 83 has been listed

So long! US high yield index jumps tighter with roll from old to new series
Credit spreads have retraced tighter on Tuesday, after two days of heavy selling pressure, as investors in US high yield index CDX HY get set for its roll into a new series

European credit returns to peak covid levels with UK getting pounded
What looks set to be another challenging week for financial markets has opened as bearishly as last week ended, with credit spreads in Asia and Europe once again surging to new wides

Surge in hedging sends credit spreads to year's wides
A busy and bearish week is ending with credit spreads surging beyond their previous widest levels of the year, with Italian elections this weekend adding to caution in Europe after a string of central bank policy decisions reshaped the global economic outlook and the UK government scrambled to address rising energy costs