Category Archives for "Premium Content"

Premium Content

19th November 2017

Mixed signals

Relax, don’t do it… We’ve been through the grinder a bit in these opening couple of weeks of the month, but have managed to stabilise and regain some of the lost performance. The flow in the secondary cash market has not justified in any way the level of weakness that we have had and we […]

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16th November 2017

We’re back, 1000 year deals and all

All is not lost… Just when all looked hopeless, the tide did turn. We are back. Higher equities, flattish in duration and tighter credit spreads. It’s been a while (!) since we could last say any of that. The illiquidity in the offered side of the market ensured we squeezed better as buyers emerged and […]

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15th November 2017

Waiting for the tide to turn

As the jitters persist… We were again greeted by a sea of red across the screens. Those equity markets just don’t want to shake off the feeling that we have probably gone too far on nothing but excess liquidity. So we’re getting a period where the pull-back from those heady heights in all markets is […]

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14th November 2017

Reloaded & ready to go again

Roll up those sleeves… We are having that pull back in spread markets. That little reminder that markets don’t go in any direction for too long before they correct. We had been in bullish mode for well over two months and the weakness last week was probably a timely reminder of the over-exuberance in the […]

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13th November 2017

They’re back!

Some more of the same… The big picture for credit has investors concerned about the level of the market and the timing of ‘the’ correction. That big event is unlikely going to occur just yet. Most will safely assume that 2018 is the timing for that and will use the rest of this year to […]

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12th November 2017

If it was just that easy!

Defeat from the jaws of victory… We came into last week on such high expectations that spreads would continue to squeeze tighter, but we were completely wrong-footed. Not because there was any measurable or obvious better selling cares, or that we had a credit market related event that scuppered those expectations. Nor was it that […]

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9th November 2017

Soggy end to the week

Playing the game… There was a cautious tone to the markets again and after several sessions with that being the case, we must be thinking in terms of a reluctance by investors to chase the markets deeper into record territory so close to year-end. That certainly seems to be the case for European equities, while […]

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1st November 2017

As good as it gets?

No, there’s life in the old dog yet… There was little distraction from the Fed’s rate decision in a session where European markets rallied hard. Equities gained over 1% in some cases, iTraxx Main Series 28 dropped through 50bp, cash credit squeezed some more and rate markets were fairly stable. That’s about as good a […]

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22nd October 2017

Record breakers

Momentum upbeat into the final weeks of 2017… A week is a long time… in the markets. We ended last week with an increased positive tone. The latest EU summit left us with a feeling that the Brexit negotiations will possibly continue in a more constructive and less combative manner. And before that, we had […]

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19th October 2017

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 […]

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