12 May 2023 Global Credit Wrap

5 May 2023 Global Credit wrap: Pref ETFs weak, US Jobs strong, US Homebuilders ATHs, RE financing, Travel & Leisure (esp. Cinemas) strength. Surprise hike in Malaysia, Apollo acquisitions, interesting ratings changes...

28 April 2023 Global Credit Wrap: Issuance ticking along in HY/IG, Bank results were ok, FRC problem lingers, Insurance debt redeemed, EUR RE APO/Vonovia transaction

14 April 2023 Global Credit Wrap: Better risk tone despite narratives/positioning. Sub Fins deals coming back, RE Credit seeing bit more two way, big Financials knock it out of the park (JPM/C/BLK)

31 March 2023 Global Credit Wrap: Fins bounce back, China consumption returning, Inflation measures falling, EM local strength, credit ratings upgrades, private credit loans to start trading?

24 March 2023 - Global Credit Wrap: Financials heavy update this week including trading recap on AT1s...

17 March 2023 Global Credit Wrap: CS, all USTs below 4.0%, credit spread widening led by fins, lev loan defaults rising, illiquid markets causing pain.

10 March 2023 Global Credit Wrap: $SIVB, massive rally in front end UST, sentiment returns to "Extreme Fear", credit widening lead by US, corporate distress rising, eventful week in LATAM

3 March 2023 Global Credit Wrap: Credit markets functioning ok despite rising rates and problems in certain areas of the market (EM Sovs, Real Estate, Subprime Auto Loans, Brazilian Credit...)

24 Feb 2023 - Global Credit Wrap: 2yr UST @ 4.8%, 10 and 30 yr near 4%, 3rd largest HY outflow on record, "other" funding markets seeing more activity, more distress in RE/Used car related issuers

17 Feb 2023 Global Credit Wrap: Hawkish CBs, better data + sticky inflation pushing gov bond yields higher. Bumper IG flows + issuance. HY issuance slowed but new converts print. News on REITS. Bankruptcies continue march higher....

10 February 2023 Global Credit Wrap: 2 year UST now at 4.5%, more sticky inflation for nations and corporations, US HY bonds coming with 6s and 7s coupon handles, EM bond rally stalling, earnings snippets from Apollo, CS calls

3 Feb 2023 - Global Credit Wrap: More greed than fear in markets, pricing power back to IG Corp issuers, Xover at 379bps, CCCs/REIT bonds are rallying, US Homebuilder strength, distressed update, Adani bonds, AI in FICC Trading...

27 January 2023 Global Credit Wrap: Mixed US economic signals, Canada pause, European data improving, inflation surprises in OZ, Xover at 405bps, Euro HY & lev fin markets are alive, some useful earnings call snippets

20 January 2023 Global Credit Wrap: Robust Single B rated HY issuance, signs of fatigue in HY rally, statistically significant UST moves, 25bps Fed hike locked in, Bank FICC trading boom, SL Sov debt - China speaks...

13 January 2022 Global Credit Wrap: Risk-on credit rally giving a boost to HY & EM, bond fund flows gather momentum, Fomo building, Bank FICC divisions post blowout figs

6 January 2023 Global Credit Wrap: Happy new year!

Global Credit Wrap 9 December 2022 : Banks reducing hung loans, more A&Es in HY/EM, that low reset AT1 call, UK mid-size Banks...

Weekly Global Credit Wrap 2 Dec 2022: Yields lower, inflation readings lower, US IG spreads hit key level

25 November 2022 Global Credit Wrap: Duration and credit rally continues, keep an eye on events in China...