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The ESG technical is very strong
We look at the ECB’s plans to ‘green’ their asset purchasing program going forward, and what this could mean for credit spreads.
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How have AT1s traded this week
The events that unfolded over the weekend were sure to make for some volatile trading sessions in the Additional Tier 1 (AT1) market this week.
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Bank of England joins the ECB on hierarchy
The Bank of England joins the European Central Bank in stating that there is a clear hierarchy when it comes to a resolution or an insolvency scenario.
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Rules of the game - from Swiss finish to finished
Swiss regulators' decision to bail out Credit Suisse equity holders while wiping out AT1 debtholders will see long-term effects on bank debt markets and likely legal action says Eoin Walsh
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Credit Suisse - In the eye of the storm
Partner Eoin Walsh explores what the potential outcome of regulatory intervention for Credit Suisse could mean as negative headlines persist for the bank.
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Idiosyncratic or wider bank issue?
Deposit outflows at Silicon Valley Bank raise concerns over lending quality and mark-to-market losses, but is this a wider issue for the global banking sector?
CLO documentation provides downside protection to investors
As we approach the end of the economic cycle, tighter documentation is becoming increasingly important in providing downside protection against credit and extension risk of CLOs, says Pauline Quirin.
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Will bank lending change the ECB’s view on inflation?
European banks’ tighter lending standards are chipping away at corporate loan volumes and adding to the uncertainty surrounding the ECB’s inflation projections due later this month, says Felipe Villarroel.
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February pull-back widens the entry point for fixed income
February was a nasty throwback to the sort of market conditions that battered fixed income in 2022, but the pull-back has given anyone worried they’d missed the January rally an even better opportunity, says Charlene Malik.
Financial conditions are tightening – what comes next?
With banks tightening lending criteria in the US, Felipe Villarroel explains why macro trends like this will have more influence on the Fed’s thinking than the recent strong jobs data when it comes to the path for monetary policy.
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Traffic jam for European ABS issuers
With cheap central bank funding fading, European ABS issuers are back to placing deals in the primary market and broadening the range of liquid assets available to investors, says Doug Charleston.
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Are markets finally following the Fed?
With 2023’s rally halted by the Fed’s hawkish messaging, Felipe Villarroel questions whether markets read the recent jobs data correctly and looks at what it means for terminal rate expectations.