Moody's: Covenant-lite loans fast becoming new normal in Europe's speculative grade loans markets
Jun 19, 2017 00:50 am UTC| Research & Analysis
Soaring demand for riskier spec-grade loans, a rapidly expanding base of investors hungry for returns and limited new deal flow are allowing borrowers to increasingly issue loans without any financial maintenance...

Jun 16, 2017 12:16 pm UTC| Research & Analysis Insights & Views Central Banks
In the yesterdays SNB LIBOR rate announcement, the central bank has maintained status quo, leaving interest rates unchanged at -0.75% followed by monetary policy assessment and press conference. In the press conference,...

Jun 16, 2017 10:10 am UTC| Research & Analysis Insights & Views
The full unwind of the post-election Trump trade, which has led to a weaker US dollar and lower US Treasury yields, has supported golds relatively strong performance this year. To reflect a more benign inflation outlook...

FxWirePro: After monetary policy season, can EUR IV skews could flip for calls?
Jun 16, 2017 07:46 am UTC| Research & Analysis Insights & Views
EURUSD risk reversals (RR), which measure the relative appetite of upside and downside strikes, have been oriented towards puts since end-2009 (refer above graph). However, before 2009, EURUSD RR frequently flipped between...
Jun 16, 2017 06:32 am UTC| Research & Analysis Insights & Views
Crude oil prices tumbled to their lowest level in a month this week and closed on Thursday at the lowest level since the initial OPEC agreement was reached last November. The catalyst for the collapse is widely viewed as...

FxWirePro: What drives the Antipodeans’ richness against G10 petro-currencies?
Jun 15, 2017 13:09 pm UTC| Research & Analysis Insights & Views
AUDUSD remains in the middle of the USD 0.72 - 0.78 range that has held since mid-2016. The upside for the currency is indeed capped by the prospect of further narrowing in short rate spreads and a sense that the...

FxWirePro: What’s all about going long in EUR/USD 2y calls and shorting downside risk?
Jun 15, 2017 13:03 pm UTC| Research & Analysis Insights & Views
The FX options market is very liquid up to the 2y expiry. This is an appropriate horizon to capture a scenario whereby EURUSD surges to 1.30. In addition, we want to go long vol via calls, as topside vega is going to...