Credit Market Analysis

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Credit Market Analysis > Latest Notes

When the chips are down

Now's not the time to overreact... If the reality of a (much needed) debt restructuring is going to take place in the Casino/Rallye complex, bondholders are going to take additional hits to already sharply written-down holdings. It should come as no surprise we've got to this point, though, as the clouds were darkening for a while and it is not as if we didn't see it coming. [...]

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Time to say Goodbye

Election fever rises... We may have gushed deals on Tuesday but we had the necessary slowdown in the flow on Wednesday, which will have served the corporate bond market very well - Because it will keep investor indigestion at bay, allowing us to absorb that slew of issuance. There is always a temptation from borrowers to flood the market when they know the going is good (as [...]

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Luv’ it, just luv’ it!

Credit in a class of its own... Resilience comes to mind when offering a description of the corporate bond market at the moment. Equities might move higher or lower by up to 1.5% in a session as they react to the headline risks, but without a bigger down-leg, credit (at worst) just treads water or edges a little wider. The corporate bond market is holding firm at the moment [...]

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When the chips are down

Collateral damage a sign of things to come... The collateral damage of the Trump order to blank Huawei on security grounds came through good and proper in the markets on Monday. What should have been - and initially looked like being - a small up or down session across the markets as they reacted to and absorb the weekend's news flow (Aussie elections, Japanese GDP, Google/H [...]

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Don’t Forget…Corporate Bonds expert Dr Suki Mann

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