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34 results found Showing page 2 of 2

  • Credit spreads wind back to February to bring shorts into focus
    The credit rally since April has opened up an opportunity to go short credit, say fund managers, with spreads back to where they were in late February

    4 years ago

  • Fallen angels push off-the-run index 25bp wide of CDX IG
    A  gap of over 25 basis points has formed between US investment grade CDX IG and its recently off-the-run predecessor series 34. At Credit Dimensions, Creditflux’s synthetic credit event, panellists highlighted a major shift in composition between index series that has opened up relative value plays between them

    4 years ago

  • Investors get creative with new ways to trade the curve
    Credit index curve trading is gaining new features going into August, evidencing deeper liquidity for CDS strategies, but also that investors already have one eye on the upcoming September rolls.

    4 years ago

  • Rampant technicals push cash and CDS in different directions
    Central bank interventions, primary market issuance and high yield defaults have conspired to create major distortions in credit performance, which sources say are ripe for opportunistic trading.

    4 years ago

  • Tranche traders aim to navigate default risk while staying clear of coronavirus contagion
    The CDS market is navigating between two sources of risk for equity and mezzanine high yield index tranches. The default of US media company McClatchy has focused idiosyncratic concerns, while the spread of the coronavirus has stoked fears of a systemic sell-off.

    5 years ago

  • IHS Markit mulls CDX EM growth and iTraxx ESG screen
    Increasing the portfolio size of CDX EM and consulting on an ethically-screened version of iTraxx Europe are among the projects index administrator IHS Markit has been working on ahead of the 20 March roll.

    5 years ago

  • Covid-19 outbreak rattles carry traders
    The coronavirus panic hitting financials markets at the end of February has been a strong driver of relative value trades, with CDS underperforming both cash bonds and equity, while financial names felt the heat more than corporate borrowers as geographical risk came into play.

    5 years ago

  • Correlation rise stokes mezz rally but adds to CSO woes
    Below the calm surface of the credit market, correlation has been churning and creating dislocations rich with reward for index tranche traders but complicating bespoke issuance, say sources.

    5 years ago

  • Index tranche levels spike as investors advance into equity
    Trading of credit index tranches is picking up, with some $61 billion worth changing hands in the space during the first quarter, according to data from the Depository Trust & Clearing Corporation

    6 years ago

34 results found Showing page 2 of 2

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