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.
29th March 2020

🦠 The Covid-19 credit gimme trade

Event-risk to offer more opportunities… It looks like the IG corporate bond market is healing, albeit leaving a nasty scar. Corporates are playing the short game, borne from a necessity of shoring up balance sheets – and paying up for it. Of course, some of their justification for a print comes from the still historically […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
26th March 2020

🗞️ Great rally, but there should be more opportunities

Better to be safe than sorry… The opening of a window and ‘hey presto!’, there is no shortage of borrowers jumping through it, albeit paying up to get deals away. We don’t think that, perhaps down the line, it is going to be seen as a panic move even if the companies issuing do not […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
24th March 2020

🌄 First of Many False Dawns

Timing is everything and nothing… Are we reading this wrong? An extraordinarily positive day in equities, and a clutch at the proverbial straw of hope of a turnaround. There is a massive fiscal boost on the way in the US to augment the monetary one as well as the open-ended Fed purchases already announced. That […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
23rd March 2020

🗞️ Pyrites at the end of the primary rainbow

Closing for business… Another day goes by and it was another decent leg lower in for risk assets. Even with the Federal Reserve going all-in, becoming the ultimate back-stop bid for fixed income markets, failed to prop up risk markets. Classically, it ought to have translated into some material support across those very markets. It […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
22nd March 2020

🗡️ Catching a falling knife

UK goes for broke, others to follow… In a last throw of the dice, Britain has closed for business. Encouragingly and correctly, the fiscal response has been immense, unprecedented in its size and nature and broken many a financial taboo. A volcanic-like explosion of liquidity and support all being necessary as the country (and world) […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
19th March 2020

💺 That’s it, sit back and wait

Time for a sober re-assessment… They’re coming thick and fast – and with increasing regulatory. The Fed, BoE, ECB, EU, ECB and BoE again. Rate cuts, asset purchases, fiscal splurges, mantras of ‘whatever it takes’. My, whatever next, helicopter money? For the investment grade corporate bond market, the crisis in performance for investors probably sees […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
18th March 2020

🙈 Spread Charts Have to be Seen to be Believed

Helicopter money on stand by… We’re beginning to see the first vestiges of the coronavirus storm’s impact on macro with data emerging ex-China, and the readings are going to look as bad (if not worse) as we might have feared – with big demand/supply-side shocks. The current numbers have merely set a marker for what’s […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
15th March 2020

🗞️ No FOMO for Us – Only Fear

We’re all scientists now… Judging by that equity market price action in the US (+9%), one would think that the markets were convinced that monetary and fiscal easing are the cure for Covid-19. That was some melt-up. It had ‘fear of missing out’ written all over it. This week it will just be ‘fear’. The investment […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
12th March 2020

🗞️ Goodbye Mr President

The tide has gone out… Trump flapped, the market took one in the solar plexus, to coin a phrase. We knew it anyway, and now it is clear – Trump is having his ’emperor has no clothes’ moment. It’s tempting to think it’s all over for him. But it is not about him. The markets have […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
18th February 2020

🗞️ Corporate earnings cull will mar Q1

Lemmings? Perhaps… Now we’re talking. It’s time to sit up and take note. Finally, we have a major company, in Apple, warn on Q1 revenues. Of course, they’re suggesting it’s temporary. Let’s see if this hits home. This warning, though, is the tip of the iceberg, and others will follow quickly. We’re looking at a […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
1 2 3 30