This category can only be viewed by members. To view this category, sign up by purchasing The Monthly Access Pass or One Year Subscription.
Premium Content Archives - Credit Market Analysis

Category Archives for "Premium Content"

Premium Content

This category can only be viewed by members. To view this category, sign up by purchasing The Monthly Access Pass or One Year Subscription.
9th July 2020

🗞️ Enough is enough

Primary pace couldn’t just go on and on… It’s not quite the cocksure market we thought it could have been. Credit primary was threatening a pre-earnings blackout-period deluge, but it hasn’t quite arrived. We are at a lower level of deal flow dynamic but ought to see €20bn or so of IG non-financial issuance (around […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
5th July 2020

🗞️ Plugging into the (initial V-shaped) recovery

As IG primary records broken… The bounce in economic activity (from the early 2020 Q2-lows) will likely continue with a broadly positive trend in asset prices over the summer months. We could still be looking at the potential for US stocks to rise and get close to those record highs seen in February before the […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
2nd July 2020

🗞️ Yield sells

But all eyes on China… The second half has got off to a promising start. The data is supportive and the main driver for it. Credit primary continues to furnish us with a plethora of deals and the pipeline suggests deals to come throughout a busy July. Covid19 outbreaks and subsequent localised lockdowns are going to […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
30th June 2020

🍷 Glass is half full

Thanks to the central banks… It’s been a fine recovery-quarter overall, investors relieved that the markets managed to bounce back, taking in the best quarterly performance for several asset classes. And that, just as the coronavirus pandemic threatened financial armageddon. Concerted loosening of policy by central banks/governments did the trick, again. And so the market’s […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
28th June 2020

🎖️ High Yield Market Fighting On

Headwinds aplenty, but liquidity supportive… Well, ams AG tripped up. Such is the edginess particularly around Germany Inc after Wirecard’s demise, investors had every right to reassess their allocations to the high yield borrowers deal last week. We move on, but it is a rollercoaster ride at the moment. That’s chiefly because Covid19 outbreaks/lockdowns are […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
25th June 2020

☀️ Summer’s here, but no holiday just yet

Credit still dealing… A calmer session that didn’t quite follow through on the midweek wobble, but be assured that there will be a few more of them before we have a grip on this virus. That wobble was after PMIs and other data showed we were in some sort of a recovery mode, even if […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
23rd June 2020

🗞️ A new cautious optimism is palpable

Timing. It’s all in the timing… Credit markets, focused on issuance, were excited about the inaugural 4-tranche, €4.5bn offering that came from Exxon Mobil. Not us. It is the Profine issue, which breaks new ground for the high yield market in Europe given the timing of its high coupon deal, during what is still an […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
21st June 2020

✨ Corporate bonds: Stellar recovery, more to go…

Who would have thought it?… It’s been an excellent recovery for corporate bond investors/portfolio managers over the last 3 months. In the depths of the Covid-19 pandemic panic, the benchmark returns in IG, for example, bottomed at -8% in the period to end March. Few would have thought that getting back to flat or into […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
17th June 2020

🎶 The music just keeps on playing

Summer of content… The early June wobble over, the markets are back in full swing with the glass being viewed as being half-full. The temptation might be to put some shorts on, but lurking is a policy response to any (impending) weakness, that the upward momentum is soon re-established. Right now, it’s about not fighting […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
16th June 2020

🍾 Whatever it takes

And the markets like it, a lot… Was that the sound of corks popping? The Fed is going to be buying corporate bonds. US retail sales bounced 18% higher in May (core by 12.4%) and well ahead of expectations. And there is talk of Trump possibly announcing a $1trn Federal infrastructure spending programme. Like discovering […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
1 2 3