Tech and supply chain concerns take credit back to year's wides
A cocktail of bearish signals has taken credit markets back to their widest levels since March, with Tuesday's sell off spilling over into the Wednesday session

German property co hits new wides as investors scrutinise investigation report
The bearish momentum that gripped financial markets on Friday has spilled over the weekend into Monday's session, with an especially big move in the debt of one German real estate borrower taking it to worrisome spread levels

Big swing for high yield property co as bears make new push
Credit trading has turned decidedly bearish again as the weekend approaches, with investors bracing for a host of market-impacting developments. This has brought a particularly volatile reversal in performance for one European high yield borrower

US high yield outperforms as credit adds to rally
French equipment rental company Loxam is among the biggest movers as credit markets rally for a second day, but US high yield is having the better week

Heavy mood greets Europe’s return as earnings and rates policy weigh
The European market on its return after the long weekend is greeted with another sizeable push wider in spreads, with focus on US Federal reserve policy, this week’s round of corporate earnings and the prospect of US 10-year inflation linked bond yields turning positive for the first time in two years

Credit rally revives as investors scour ECB for Easter eggs
Credit spreads are taking a turn for the tighter on latest European Central Banks statements, at the end of a short week characterised by flatter index trading but persistent single name volatility

Skew in focus for second day as single names move sharply against index
Credit indices are trading out of sync with their underlying constituents for a second day this week, with single names broadly widening despite investors seeking to maintain flattish macro positioning

High yield and IG single names diverge even as buyside seeks macro neutrality
High yield and investment grade single names are moving in opposite directions at the start of the week, while indices reflect a push by investors to cut directional exposure to macro credit

Investors weigh up Fed calendar and valuations after bruising week
Financial markets are taking stock on Friday after a big sell-off in risk assets, with credit spreads nursing the wounds caused by this week's returning focus on hawkish central bank policy versus rich-looking valuations

US oil drive boosts credit, but property firm goes against the flow
US moves to increase oil supply have prompted financial markets to resume rallying, after Russia dampened optimism on peace in Ukraine. But one European company is moving sharply in the other direction

High yield gap yawns open after US index roll
A market rally ahead of Russia/Ukraine peace talks has added to the gap between European and US high yield credit derivative index spreads, a day after CDX HY rolled into a new on-the-run series

CLO prices drop under weight of massive secondary volumes while CDS rallies
CLO spreads have underperformed versus liquid credit instruments in the past week after a massive $2.3 billion of paper hit the secondary US CLO market. But that could create opportunities for investors.

Credit rally extends as investors welcome hawkish but clearer Fed message
Credit markets have carried their rally over to another day, fuelled in part by what investors have interpreted as a hawkish but clear message from the US Federal Reserve on policy tightening

HY index to only receive one fallen angel, as five rising stars leave for IG
The addition of rising stars from the high yield market will be a prominent feature of next week's CDX IG index roll. But changes listed for CDX HY suggest the reverse will not be true when it rolls a week later

China pledges and Russia/Ukraine peace hopes drive relief rally
Credit markets have surged tighter on Wednesday, with China's pledge to support covid-hit markets and hopes rising for Russia-Ukraine peace discussions ahead of US Federal Reserve policy moves that are widely thought to have been priced in

China's covid response fuels regional dislocation and slowdown fear
Asian credit divergence has extended into a second day, with China's move to address rising covid numbers driving regional spreads as investors elsewhere await a closely watched Federal Reserve meeting

Europe leads rally ahead of Fed despite mounting concerns from Asia
Credit markets have begun the week on a firmer tone, with Europe outperforming, despite concerns that rising covid-19 cases in China could add a further source of supply disruption

Rising stars and Russia drive credit index roll changes
Rising stars will feature prominently in this month's roll into new iTraxx and CDX index series, but the market's riskiest names will remain in high yield baskets while at least one company falls foul of its links to Russia

German real estate firm leads way as credit makes another lurch tighter
Adler, the German real estate investment group, is among the outperformers in Friday's rallying credit market, despite an audit by KPMG having been unable as yet to refute allegations made against the company

Russia debt repudiation / moratorium question lands with Determinations Committee
The Russian Federation looks to be edging closer towards triggering a credit event, having been referred to the Credit Derivatives Determinations Committee for a 'potential repudiation / moratorium' on its bonds

Russia’s long EM index tenure cut in one swoop
Various constituent changes have been tabled for the forthcoming March roll of CDX and iTraxx credit derivative indices into new series, but one stand out is the administrator’s decision to eject Russia from all series of CDX EM

Nuclear power plant seizure amps up commodity chaos
The high volatility driven by Russia's invasion of Ukraine is taking financial markets to new extremes, with credit ending the week once again hitting new widest spreads since mid-2020

Market whipsaw sends indices and their constituents in opposite directions
The speed and violence of the credit market's oscillation is causing disruption in index skews, with constituent single names struggling to adjust quickly enough against deepening macro volatlity

Euro volatility outpaces US with pivotal hours ahead in Ukraine
Financial markets took another battering on Tuesday, as Russia's war with Ukraine ramped up and western countries moved to enact new sanctions

Russia debt hits default levels amid FX and asset lock-up
Russia appears to be on the brink of default on its debt, with bonds and CDS pricing in the likelihood of an imminent trigger