Credit Market Analysis

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Credit Market Analysis > Latest Notes

Fixed income feels the chill

Rates are the story... The only market bursting out of the blocks is the rates one, that is, with yields heading higher and close to setting the highs for the year in the US (10-year), while the 10-year Bund yield up at close to 0.50% is still 27bp short of its highest level for 2018. The direction of travel for both markets at the moment is the same - higher in yield terms. [...]

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One hand giveth…

The other taketh away... Deals galore littered the primary markets in one of the heaviest sessions for a while - most likely this year so far in terms of the number of issuers. There was SSA issuance, covered bonds, IG and HY corporates, senior and subordinated financials and in dollars, euros and sterling currencies. So we worked through a busy session. IG non-financial dea [...]

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Indian summer

Taking stock... We're just past the halfway stage of the month and, having manoeuvred a few bumps and scrapes, the market is holding relatively well. All eyes, as usual, have been on the US and their domestic economy is powering ahead. The economic storm clouds have threatened elsewhere but the bellwether S&P is clinging on to 2,900 - dipping in and out of 'the number' t [...]

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Needing to ramp it up

Willing the markets on... Our obsession with the primary market continues - because it is the oxygen of the market. Tuesday's session saw a plethora of activity, but it was mainly financials driven. Covered bonds, senior issues and subordinated debt dominated the screens with a couple of peripheral non-financial corporates also in the mix. Spreads are edging wider, though, l [...]

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Don’t Forget…Corporate Bonds expert Dr Suki Mann

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