Credit Market Analysis

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Credit Market Analysis > Latest Notes

Pausing for breath

Respite session... Finally, some good news! First off, the Chinese announced a reduction in auto import tariffs to 15% from 25%, with some speculation that they will need/have to cut them further. We await news on other sectors/products having import tariffs reduced. And then we had some bottom fishing around Italian debt markets which was inevitable given the massive sell-o [...]

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Lessons learned in credit

Italy presents no catastrophe for credit... We've lost count, but the 68th (?) government since the second world war - Does it really matter?  We have been here, just in a different guise. Most would think that there are far more important things going on in the world – North Korea, Turkey, Argentina, Russia to name a few. Small wonder corporate bond investors have refus [...]

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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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Don’t Forget…Corporate Bonds expert Dr Suki Mann

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