Table of Contents Recent Research
IG Corporate Credit Strategy:
Credit Continuum: Financials: Where Do We Go From Here?
January 28, 2013
Credit Continuum: Rising Rates and Credit - What's Different this Time?
January 11, 2013
Credit Continuum: Grind or Gap? A Guide to CDX IG in 2013
January 9, 2013
Global Credit Strategy: 2013 Credit Outlook: Caught in the Comfort of Credit
December 4, 2012
Credit Continuum: The Mortgages to Corporates Trade
November 9, 2012
Credit Continuum: Energy: Technicals Cushion Weaker Fundamentals
October 26, 2012
Credit Continuum: Fundamentals Fading, But Still a Tailwind
September 28, 2012
Global Credit Derivatives Strategy:
A Window in the Vol
January 18, 2013
iBoxx TRS – Underestimating Total Return
January 9, 2013
As the Basis Turns
November 16, 2012
European Sovereign CDS Regulation: Bracing for Impact
October 26, 2012
European Financials CDS: Expensive Protection
October 18, 2012
Trade, Rally and Roll
October 4, 2012
Introduction
Credit Market Snapshot 3
Risk Reward Snapshots 4
Market Overview
Macro 11
Technicals – Demand 12
Technicals – Supply 15
Fundamentals 16
Valuations 19
US IG Corporate Credit Investment Themes
US IG Overview 23
Rising Rates and Credit 26
Sector Themes 32
Cash CDS Basis 38
Derivatives Trades and Themes
Credit Derivatives Overview 41
Portfolios of Credit 42
Volatility 48
Credit Options 52
Credit Tranches 55
US HY and Municipal Themes
HY 60
Municipals 67