
ECB QE Monitor - April 2021
Something has to give in a regime shift. Be prepared, there will be opportunities for value investors.
DiscoverExtraordinary policy intervention has made this HY default cycle unusually short-lived, helping to limit quite significantly the rise in defaults among mid- and...
More < 5 minutesThe move in rates is just one factor of the macro backdrop that can drive spread trends, but one that worked quite well in past cycles and therefore worth focus...
More 5 to 10 minutesQE potential to absorb the supply of sovereign debt looks strong in 2021.
More 5 to 10 minutesInvestors on the Italian government bonds market should consider any slip in the Italian bond market as an opportunity to increase their exposure.
More 5 to 10 minutesDespite a severe macro contraction, policy reaction to the covid-crisis limited most of corporates’ rating migration and HY defaults to low-rated debt.
More 5 to 10 minutes70% and 80% of overall gross and net EZ sovereign supply, respectively, estimated for all of 2020 was placed in the first seven months of the year
More 5 to 10 minutesThe global background and Italy: if we wanted to characterise the contraction and recovery pattern, we would probably describe it as a ‘long U-shaped’ recovery;...
More < 5 minutesGlobal HY markets sold off aggressively between February and March in response to the COVID-19 outbreak, the oil price war and the liquidity freeze in some mark...
More > 10 minutesLast year was a strong year for global bond markets, which were supported by the accommodative stance of the main central banks and strong investor demand. US, ...
More > 10 minutesProfessional investors are Professional investors of the European Union, as defined as inEuropean Directive 2004/39/EC dated 21 April 2004 on markets in financial instruments(MIFID) to investment services providers and any other professional of the financial industry,and as the case may be in each local regulation, and, as far as the offering in Switzerland isconcerned, a Qualified Investor within the meaning of the provisions of the Swiss CollectiveInvestment Schemes Act of 23 June 2006 (CISA), the Swiss Collective Investment SchemesOrdinance of 22 November 2006 (CISO) and the FINMA’s Circular 08/8 on Public Advertisingunder the Collective Investment Schemes legislation of 20 November 2008
European Directive 2004/39/EC dated 21 April 2004 on markets in financial instruments (MIFID)
Private customers or retail investors, or to investors who do not comply with the definition ofqualified investors as defined in the applicable legislation and regulation
as defined in the US Securities Act of 1933
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