Credit-Default Swaps

Behold The Saudi Plunge Protection Team

Amid all of the chaos, coups, and corruption crackdowns in Saudi Arabia, and with declarations of war being dropped like confetti, the Tadawul All-Share Index is barely lower...

Venezuela Just 24 Hours Away From Formal Declaration Of Default

ISDA has agreed to review a request to determine whether an event of default has occurred in Venezuela due to a delayed bond payment on PDVSA bonds which matured on Nov. 2. The ISDA Determinations Committee will hold its first meeting regarding PDVSA at 11am on Friday, November 10.

Global Stocks Rise Amid Unexpected ECB "Trial Balloon"; Dollar Flat Ahead Of Fed Minutes

European markets continued their risk-on trend in early trading, rising to the highest in over a week and rallying from the open led by mining stocks as industrial metals spike higher after zinc forwards hit highest level since 2007. The EUR sold off sharply, boosting local bond and risk prices after the previously discussed Reuters "trial balloon" report that Draghi's speech at Jackson Hole would not announce the start of the ECB's taper.

Korean Sovereign Risk Spikes After Syrian Airstrike

Despite being rated five levels higher than Thailand by Moody’s Investors Service, the cost of insuring South Korea’s bonds against default is now more expensive for the first time in 7 years.

Breslow Turns Bullish: "Don't Assume Each Event Will End Badly"

"Too many commentators have fallen into the “everything is binary” trap and decided that if you assume each event will end badly, there’s material to turn out a good rant. The reality is, actual investors have learned that all binary outcomes won’t resolve themselves in the same way and they have to find more than one way to deconstruct events."

Risk On: 2017 Stock Rally Continues As Global Inflation Accelerates

Following another day of upbeat economic data, with growing signs that inflation on both sides of the Atlantic is accelerating, investors rediscovered their faith in the Trumpflation rally, pushing global stocks and US equity futures higher, fuelling a second day of 2017 equity gains ahead of today's release of the Fed's December minutes.

With All Eyes On The Fed, Stocks And Crude Slip, Bonds Rise

European stocks slipped from an 11 month high, Asian stocks and S&P futures were flat as caution pervades global markets before the Federal Reserve’s expected interest-rate hike on Wednesday. Treasuries slipped, after reaching the highest level in more than two years. Oil in New York slid to near $52 a barrel after API showed a build in inventories, and currencies of commodity-exporting nations fell. Gold headed for its biggest gain in a week.