European Bond Research as of September 6th, 2017

Posted by Sean Riddell on Sep 6, 2017 12:55:15 PM
RISK-OFF SENTIMENT NOTCHED LOWER  among investors in European corporate debt. Relative to yesterday's levels of risk aversion, trades in corporate bonds reflected a   very slight favor for junk bonds in price gains linked to actual trades. Nonetheless   geopolitical overhang amid N. Korean nuclear warhead posturing  kept a lid on gains in risk assets. So too did   pressure on the European insurance sector ahead of projected damage by intense hurricane   Irma, headed for Puerto Rico and Florida. The   Stoxx 600 index vacillated in the shallow red  amid data showing a dip in Germany's manufactured-goods orders, although shares of   Deutsche Bank AG  and  Micro Focus International PLC  posted notable gains.
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Topics: bonds, CDS, New Issues

Not A Typical Thanksgiving for Food Industry Giant Tyson Foods

Posted by Matt McTague on Nov 28, 2016 4:06:00 PM

The world's largest meat processor, Tyson Foods, Inc. (NYSE: TSN), experienced bad news ahead of one of the nation's top meat-consuming holidays. The Tyson Foods, Inc. 7% (USD) 1/15/2028 bond saw a sharp $6 drop in bid price leading up to Thanksgiving - coming on the heels of a month of unpleasent news. In addition to facing numerous downgrades, the Arkansas-based company missed Wall Street predictions in last week's earnings report as well as face a class-action lawsuit citing extensive price-collusion in the chicken-boiler market dating back to 2008.   

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Topics: CDS, corporate bonds, earnings, tyson foods

CDS: A Leading Indicator in Energy

Posted by Bill Petrunik on Nov 18, 2016 1:32:25 PM

Divergence in Southwestern Energy and Chesapeake Energy bond and equity prices hit a high in Q1 2016 with the spike in Chesapeake 5 Year Senior USD MR14 CDS spread. Thereafter and through to present, equity prices remain divergent while bond prices converge.

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Topics: credit default swaps, energy, CDS

LatAm CDS spreads show fluctuations leading up to US election

Posted by Alex Buzby on Nov 14, 2016 9:36:30 AM

High volatility in both the IHS Markit CDX LatAm Corporate Index and Mexico 6.75% 2034 note can be observed in the 90 days leading up to the Presidential election. Most recently, a sharp widening of the given CDS spread is noticeable at the end of October after Director James Comey stated that the FBI was reopening its investigation into Hillary Clinton's email scandal. This widening was quickly reversed just days before Election Day when Comey and the FBI determined there was no further evidence of wrongdoing by Clinton.

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Topics: credit default swaps, CDS, Election

Top 10 CDS Movers as of October 25, 2016

Posted by Sourav Srimal on Oct 25, 2016 3:14:20 PM

IHS Markit's Top 10 CDS Movers / Spreads for October 25, 2016.

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Topics: credit default swaps, IHS Markit, CDS

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