Credit Market Analysis

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Credit Market Analysis > Latest Notes

Italy to the fore

They just got it wrong... Investors often have a gripe about syndicate desks tightening pricing too much and then dishing our poor allocations. The reality is, the method (game) of pricing and then building a materially oversubscribed book gives comfort to investors through knowing there is safety in the numbers. All the more reason to look at last week's pulling of the Bert [...]

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Worry wall

Wall of worry rises... Market rates have shot higher - especially in the US - on the back of expectations of improving macro and tightening job markets feeling a necessary rise in inflation, and allowing the Fed to try and bring policy as close to normal as it can. We're being dragged higher in the Eurozone even as growth splutters and inflation remains anchored at very [...]

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Rocket Man brings us back down to earth

Pemex blooper... Uh oh! Well, that's that then. What a shame. And perhaps a lesson for the EU in the Brexit negotiations. There needs to be some give and take. With North Korea threatening to pull out of the denuclearisation talks with the US, having already abruptly postponed/cancelled the next scheduled meeting with the South, we're going to need a measured response from t [...]

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Mixed macro outlook

Playing into the hands of credit... We had another flurry of deals as primary ramped up, this time covering most markets in IG credit, covered and SSA borrowers. The sluice gates are fully open. It's taken a while, but we're getting them at a fairly high rate and hoping that it can continue through this month and next before we inevitable summer lull kicks in. And we do have [...]

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Don’t Forget…Corporate Bonds expert Dr Suki Mann

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