Credit Market Analysis

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Credit Market Analysis > Latest Notes

Go with the flow

It's a known unknown... Spanish woes didn't quite grip the markets in the penultimate session of the week as they could have, with the Madrid government set to postpone Catalonia's autonomy and impose direct rule over the region. Although it could be viewed as an internal, domestic matter, the repercussions are not lost on the EU following the UK referendum and the vote to l [...]

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The mad world

...That is the high yield market We've broken the link between the level of supply and the direction of spreads. We are heading for a record level of issuance in the high yield market, yet we have still seen a fairly aggressive tightening in secondary spreads for junk rated debt. On the other hand, in the investment grade market, the lower-than-expected levels of issuance ha [...]

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Credit strikes out

A bit of this and a bit of that... It is not often that we have a day where prices for most asset classes trade in the narrowest of ranges, and never really threaten to break out of them. Tuesday was just like that. Mind, there wasn't too much in terms of news flow in the session to get either excited about - or overly concerned. We would think that the path of least resista [...]

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Christmas comes early for credit

Ho ho ho... And then there were none. Again. The lack of supply is going to be an issue for many investors sitting on decent levels of cash and needing to get it invested before the end of the year. October's non-financial investment grade issuance hasn't even hit €7bn and we're just past the halfway stage for the month. At this rate, €15bn in issuance will be seen as a [...]

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Don’t Forget…Corporate Bonds expert Dr Suki Mann

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