Category Archives for "Corporate Bonds"

25th February 2018

Holding one’s nerve

Worm not ready to turn yet… It will not have escaped anyone’s attention that the tightening in credit spreads has hit a brick wall. Even when equities have a good session, spreads seem to tighten reluctantly – if at all. Weakness is moderate, however, when it occurs in IG and the contingent convertible bond sectors […]

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22nd February 2018

The silence is deafening

No reservations yet about credit markets… The (as expected) positive tone regarding US growth and inflation from the FOMC minutes still managed to leave the markets in a quandary as they struggled again to reconcile the growth/inflation/rate hike conundrum. US rates sold off overnight but did little to provoke the same reaction here, while the […]

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21st February 2018

Things can only get better

Christmas blues… It feels like December, not late February. The only difference in the credit market is that no one is winding down for year-end, but instead champing at the bit to get some new primary issues on their books. The last meaty (in size terms) deals came from Novartis and Unilever during the opening […]

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20th February 2018

Answers on a postcard, please

Tick tock… The corporate bond market still seems shell-shocked from the volatility of a couple of weeks ago as it fails to offer anything to really get its teeth into. Secondary is dull across the board, there’s little by way of event-risk with the sector to get concerned about and primary is just throwing up […]

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19th February 2018

Washington has its (his) day

Much ado… President’s Day in the US meant that we all had bit of a break. We’re into the last few trading sessions of the month and must be looking to continue to recoup the losses of a few weeks ago. As it was, the session petered out into something of a ‘bore draw’, and […]

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18th February 2018

The walking dead

Altering the cycle’s DNA… We rescued some performance last week, and with just over a week of it left, we might just see out what could potentially have been a difficult February with the clock wound higher again. We’re not sure that lessons would have been learned from the correction we have traded through. After […]

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15th February 2018

Wobble over

The force is with us… It’s been a good week for the markets in the sense that they have managed to stabilise, regain some much-needed composure and then move a little higher. This, following on from a fairly tumultuous couple of weeks previously. Equities are set for a decent run into the last week or […]

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14th February 2018

Let the good times roll, again

Crisis? Not yet it isn’t… We have economic recovery. European equities opened higher across the board and rate markets were slightly better bid, leaving credit in a better spot too. Eurozone GDP growth numbers warmed as the region fed into the global growth story and we finally have clarity of sorts – or the beginnings […]

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13th February 2018

Credit finally under some pressure

But still has its fan base The corporate bond market seems like it is coming under some pressure. Primary isn’t firing on all cylinders and secondary is just beginning to feel a little of the chill. The tone is much improved elsewhere though, even if markets are not necessarily flying. So, into that risk-on like […]

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12th February 2018

It’s (not) all over

Fat lady isn’t singing her song… My own personal, shake of the head, oft used phrase when the Eurozone crisis first erupted was ‘It’s all over’. How wrong was I then, because the political will to keep the project intact was grossly underestimated (and not just by me). Now, we have another tremor, or a […]

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