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Daily Credit Summary: October 28 - Banks, Builders And Bailouts

Wed, 28 Oct 2009 22:30:14 GMT

Spreads were broadly wider in the US as all the indices deteriorated (moving to their widest levels since 10/02). Curves were modestly flatter but roll trades saw significant decompression (both in HY and IG) especially between series 9 and 12/13. At 109bps, IG is within 1bps of its widest close since 09/04 (as we note intraday wides of almost 115bps as a significant eye-ball level for many to watch).[More...]

Daily Credit Summary: October 6 - Aussie Rules, Fisk Drools

Wed, 07 Oct 2009 00:30:23 GMT

Spreads are mixed in the major indices today as single-names lagged any underperformance intraday and credit notably underperformed equities all day. Aside from very early trading tights in IG12/13, the on-the-runs were unable to break yesterday's tights (while SPY managed to gap up and hold well off yesterday's highs). Intraday ranges in IG and HY remained very muted again despite a pick up in volumes (as talk was of elevated activity in rolls and curves once again).[More...]

Daily Credit Summary: September 28 - Divergent Dullness

Mon, 28 Sep 2009 21:55:10 GMT

Spreads were tighter in the US as all the indices improved (though were unable to break Friday's tights and closed wider than Thursday's close). IG trades only 8.1bps tight (rich) to its 50d moving average, which is a Z-Score of -0.7s.d. At 105bps, IG has closed tighter on only 8 days so far this year (192 trading days). The last five days have seen IG converging to its 50d moving average.[More...]

CDS Curves Are Moving To Pre-crisis Normal

Fri, 25 Sep 2009 13:22:50 GMT

As the the corporate bond market opened for business this year, it slowly became clear that many corporations, even ones with poor business models, may be able to refinance their debt.[More...]

Daily Credit Summary: September 16 ,2009

Wed, 16 Sep 2009 21:55:48 GMT

Spreads were tighter in all the major indices today as new 2009/contract tights were seen everywhere with the high beta compression, roll compression, and curve steepening trend continuing - although HY and IG both ended well off their best levels of the day (even as stocks closed at their highs).[More...]

Daily Credit Summary: September 10

Thu, 10 Sep 2009 22:45:54 GMT

Spreads were tighter in the US as all the indices improved (with IG and HY at their tightest closes since 08/10 and rallying for the fifth day-in-a-row for the first time since the Dec08 roll).[More...]

Credit Market Overview - 9.04.2009

Fri, 04 Sep 2009 12:50:06 GMT

On August 17th and again on September 1st the SPX dropped 26 points and 24.50 points respectively. Leading up to 8/17 CDS spreads had risen from 105bps to 123bps (18bps or 17%) on the investment grade index in what can easily be called an uninterrupted run. ...[More...]

Weekly Credit Summary: August 28

Fri, 28 Aug 2009 21:57:29 GMT

Credit underperformed equities this week as single-name tighteners edged wideners by four-to-three leaving indices (especially HY) underperforming intrinsics in general. CONSumer and ENRG names underperformed as TMT and FINLs were best with INDUstrials mixed. Financials outperformed non-financials but the strength in the former was more at the tails of the distribution while the weakness in the latter was more broad-based.[More...]

Daily Credit Summary: August 13 - Credit Non-Confirmation

Thu, 13 Aug 2009 22:12:18 GMT

Spreads were broadly wider in the US as all the indices deteriorated (with HY12 underperforming IG and closing above 800bps for the first time in over two weeks). Indices generally outperformed intrinsics with skews widening in general (as we continue to see single-names leading the market wider and index hedges seemingly dominant) as IG's skew decompressed as the index beat intrinsics, HVOL outperformed but widened the skew, ExHVOL outperformed but narrowed the skew, XO's skew increased as the index outperformed, and HY's skew widened as it underperformed. The names having the largest impact on IG are CIT Group Inc (-73.24bps) pushing IG 0.28bps tighter, and Hartford Financial Services Group (+15bps) adding 0.12bps to IG. HVOL is more sensitive with CIT Group Inc pushing it 1.25bps tighter, and Hartford Financial Services Group contributing 0.52bps to HVOL's change today. The[More...]

Daily Credit Summary: August 10

Tue, 11 Aug 2009 22:15:22 GMT

Spreads were broadly wider in the US as all the indices deteriorated (as HY underperformed IG and both closed at one-week wides). Indices typically underperformed single-names with skews widening in general (extending the trend of single-name weakness from the middle of last Friday) as IG underperformed but narrowed the skew, HVOL outperformed but widened the skew, ExHVOL's skew widened as it underperformed, XO's skew increased as the index outperformed, and HY's skew widened as it underperformed. The names having the largest impact on IG are International Lease Finance Corp. (-21.93bps) pushing IG 0.14bps tighter, and American International Group, Inc. (+58.65bps) adding 0.35bps to IG. HVOL is more sensitive with International Lease Finance Corp. pushing it 0.64bps tighter, and American International Group, Inc. contributing 1.53bps to HVOL's change today. The less volatile ExHVOL's move today is driven by[More...]

Central Trims Sales Growth Target to 6%

Wed, 29 Jul 2009 23:50:00 GMT

Jul. 29--Central Department Store Co (CDS) has cut its sales growth target this year to between 5 percent and 6 percent from 9 percent earlier because of several negative factors.
Yuwadee Chirathivat, the company's president, said it expected 26 billion baht in sales, down from an earlier projection of 27.5 billion, after a weak first quarter.
CDS has opened two new department stores but customers have been hesitant about shopping.

: iStockAnalyst.com Symbols Feed

Daily Credit Summary: October 28 - Banks, Builders And Bailouts

Daily Credit Summary: October 6 - Aussie Rules, Fisk Drools

Daily Credit Summary: September 28 - Divergent Dullness

CDS Curves Are Moving To Pre-crisis Normal

Daily Credit Summary: September 16 ,2009

Daily Credit Summary: September 10

Credit Market Overview - 9.04.2009

Weekly Credit Summary: August 28

Daily Credit Summary: August 13 - Credit Non-Confirmation

Daily Credit Summary: August 10

Central Trims Sales Growth Target to 6%

Ratings Downgrades Serve As Wake-Up Call

Rasmala - Broad MENA Market Equity Index Registers Gain of 7.5%

Where's a Safe Spot to Stash Your Cash? Advice on How to Handle Your Savings and Investments in These Tough Economic Times

Delray Beach Takes Fresh Look at Atlantic Plaza Project

Analysts Share Thoughts on How to Manage Assets in Crisis Aftermath

EDITORIAL: Market Needs New Set of Rules

AME Info, Abu Dhabi, United Arab Emirates, Finance and Economy Briefs - Feb 23 2009 2:00PM

Central Clearing of Swaps Begins: European Venture Opens; Chicago Group Awaits OK

New Policy Requires Commissioners Approve All Travel Costs

China Direct Industries, Inc. Announces Management Restructuring As the Company Focuses on Its China Operations

China Direct, Inc. Announces the Change of its NASDAQ Trading Symbol to CDII Effective January 26, 2009, as Board Approves Name Change to China Direct Industries, Inc.

China Direct Reports Financial Results for the Third Quarter of 2008

Cadence announces change of name to Barrick Energy Inc.

Cadence announces completion of amalgamation with subsidiary of Barrick Gold Corporation

China Direct Announces Conference Call to Discuss Third Quarter 2008 Financial Results

China Direct Announces Reverse/Forward Stock Split Effective September 22, 2008; Temporary Change in Trading Symbol to CDSDD.

China Direct Forms New Joint Venture to Expand Basic Materials Segment

China Direct Authorizes $2.5 Million Stock Repurchase Program

China Direct's Management Sees No Operational Reason for the Recent Decline in the Price of Its Common Stock

Form 4 Wang Yuejian For: Jan 09 (10K)

Form 4 SIEGEL MARC For: Jan 09 (10K)

Form 4 Wang Yuejian For: Jan 05 (10K)

Form 4 Liu Yi For: Jan 05 (10K)

Form 4 Stein David For: Dec 18 (10K)

Form 4 Liu Yi For: Jul 01 (10K)

Form 4 China Direct, Inc. For: May 30 Filed by: BARNES DAVID M (10K)

Form 4 China Direct, Inc. For: May 30 Filed by: Steiner Sheldon (10K)

Form 3 China Direct, Inc. For: May 30 Filed by: Leibowitz George (10K)