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

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

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

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

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

Bruises start to swell, despite BoE pulling its punch
Market mood is growing uglier as the week progresses, with global investors increasingly looking for safety as the impact of central bank interventions combines with escalating fear over Russia’s campaign against Ukraine

Big push wider for credit index spreads as traders navigate challenging roll
The roll of CDX and iTraxx credit indices is proceeding, with traders scrambling to respond to a big shift in relative dynamics between the US and Europe following London's long weekend

US-led sell off shifts index roll technicals with key rates decisions looming
Further deterioration in global economic outlook is causing credit spreads to move back to the midpoint or wide end of their recent range, after a week of reversal from the previously more optimistic September trading run

Euro credit hits new tights against US after months of underperformance
The gap between European and US credit has closed, with indices trading at their tightest relationship for several months, after US economic data introduced a fresh bout of volatility

Spreads trace worryingly familiar arc as investors take good news as bad and bad new worse
Credit spreads are pushing ever closer towards the year’s peak levels, continuing Wednesday a sell off that began on Tuesday, with positive US economic data perversely sparking a bearish shift in financial assets that negative European data has since compounded

Down in the hole: investors hedge their bets ahead of pivotal Powell
Credit spreads are shifting wider on Friday, after an initial improvement, as investors try to balance positions ahead of what could be a pivotal speech by US Federal Reserve chairman Jerome Powell

Bulls extend credit improvement as oil falters at key level
Having hit their widest prints of the month on Monday, credit indices are extending their run of gradual improvement into a third day – but with investors wary of placing big bets ahead of Friday’s Jackson Hole meeting

Secondary CLOs stand firm as credit markets take a hit
Macro weakness is seeping into credit with CDS indices gapping wider and US loans suffering a setback after dropping below 95 points this week. Traders say the CLO secondary market has reflected this turn in sentiment, with did-not-trades racking up – although spreads have held up better than other parts of the credit market

Credit fights for purchase amid swirl of darkening storm
Investors are attempting to peer out of the gloom after a heavy sell off, but meancing clouds gather over Europe especially in the form of weak manufacturing numbers, a sub-dollar euro, spiralling gas costs, and the threat of lower Gulf oil production

Jackson Hole fears and Chinese drought bring bearish start to week
The US Federal Reserve's Jackson Hole Economic Symposium is a key point of focus for investors from the outset this week, with many nervous about the possibility of more hawkish statements arising from that meeting

Ukraine triggers restructuring credit event
Ukraine has triggered a restructuring credit event, the Credit Derivatives Determinations Committee has ruled

Rising stars, decompression and trade unwinds set to drive September roll: Barclays
Decompression and US / Europe relative value trade unwinds look set to characterise the September CDS index roll, with the prospect of no changes to iTraxx Europe for the first time in recent memory, say Barclays credit strategists

Bears carry market into weekend as Germany adds to recessionary swirl
Germay posting its biggest ever rise in producer prices has not helped the market mood, at the end of a week in which investors have already had to reckon with the hawkish insistence of the US Federal Reserve, spiralling European gas prices and a 10.1% UK inflation print

Turkey stuffs investors with surprise rate cut
Turkey’s rollercoaster ride in debt markets is on another upswing to vertiginous spread levels, with the country having shocked participants with a counterintuitive rate cut

Powerlong CDS contracts must be physically settled, says DC
As with other Chinese real estate defaults this year, holders of CDS protection on Powerlong Real Estate Holdings will have to physically settle contracts, after the Credit Derivatives Determinations Committee said no auction is needed