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Corporate Bonds and Leveraged Loans

Featured Content

High-Yield Bonds and Distressed Debt

The Empty Creditor Phenomenon: Does It Also Work In Reverse?

Leveraged Loans and Collateralized Loan Obligations (CLO)

Leveraged Loans and CLOs: Markets Stage a Comeback

U.S. Corporate Bonds

Credit Markets: Outlook for 2010

Commercial Paper

Asset Backed Commercial Paper (ABCP) Outlook: Inherently Unstable Market?

Is the Economic Reovery for Real? The Commercial Paper Test

Asia/Pacific

China: Corporate Finance

How Will the Improved Outlook for Chinese Corporate Profits Affect Capex?

Private Equity in China: Local Players and Joint Ventures

China : North East Asia : Asia/Pacific : Finance and Banking : Corporate Bonds and Leveraged Loans : Corporate Finance : Hedge Funds and Private Equity :

China: Credit Markets

Panda Bonds: Will China Allow More RMB Bonds?

Will Stimulus Breathe New Life into Chinese Corporate Bond Market?

China : North East Asia : Asia/Pacific : Finance and Banking : Markets : Corporate Bonds and Leveraged Loans : Corporate Finance : Government Bonds : Money Markets :

Europe

The European Corporate Debt Market

Implementing the Eurozone's Bank Recapitalization and Debt Guarantee Plans

Eye on External Debt Levels in Eastern Europe

Europe : Finance and Banking : Markets : Corporate Bonds and Leveraged Loans : Corporate Finance :

Latin America

Mexico: Corporate Bond Market

Mexico's Corporate Bond Market Outlook

Mexico : Latin America : Finance and Banking : Markets : Corporate Bonds and Leveraged Loans : Corporate Finance :

North America

Leveraged Loans and Collateralized Loan Obligations (CLO)

Leveraged Loans and CLOs: Markets Stage a Comeback

How to Dispose of the US$100-200 Billion Leveraged Loan Overhang? Provide Financing To Buyer

United States : Advanced Economies : North America : Finance and Banking : Corporate Bonds and Leveraged Loans :

High-Yield Bonds and Distressed Debt

The Empty Creditor Phenomenon: Does It Also Work In Reverse?

Covenant-Lite and Payment-In-Kind (PIK) Features: 'Zombie' Companies Delay Defaults, Hurt Recovery Rates

United States : North America : Finance and Banking : Corporate Bonds and Leveraged Loans :

U.S. Corporate Bonds

Credit Markets: Outlook for 2010

Record Junk Bond Issuance in 2009 Amid Record Returns

United States : North America : Finance and Banking : Corporate Bonds and Leveraged Loans :

Commercial Paper

Asset Backed Commercial Paper (ABCP) Outlook: Inherently Unstable Market?

Is the Economic Reovery for Real? The Commercial Paper Test

United States : North America : Finance and Banking : Corporate Bonds and Leveraged Loans :

Cash Bond - CBS Basis Comparison

Default Recovery Swaps: What You Should Know When Betting on Recovery Rates

The CDS Basis-Trade: Why is the Spread Convergence Stalling?

United States : North America : Finance and Banking : Corporate Bonds and Leveraged Loans :

RGE Analysis

Record Corporate Bond Spreads: A Buying Opportunity?

Elisa Parisi-Capone Dec 06, 2008

Revisiting my February Paper “The Risk of a Systemic Financial Meltdown: The 12 Steps to Financial Disaster”… and Some New Policy Recommendations to Avoid the Meltdown

Nouriel Roubini Oct 08, 2008

Market Review: 2007, Year of...

Mikka Pineda Dec 21, 2007

EconoMonitors

Finance & Markets Monitor

Where’s the Bubble: Stocks or Bonds?

Barry Ritholtz Feb 2, 2010

US EconoMonitor

Non-Reform of Rating Agencies

Yves Smith Dec 8, 2009

Emerging Markets Monitor

Rapidly Growing Local-Currency Bond Markets Offer a Viable Alternative Funding Source for Emerging-Market Issuers

Ismail Dalla and Heiko Hesse Oct 14, 2009

US EconoMonitor

No Accounting for Taste

Satyajit Das Sep 14, 2009

RGE Analysts' EconoMonitor

Credit Markets Update: Fundamentals Driven or Too Much Liquidity?

Elisa Parisi-Capone Aug 12, 2009

Daily Digest

Analysis

Scary View from China's Financing Platforms

Caixin  Zhang Yuzhe, Zhang Man, Fang Huilei and Yu Jing Feb 8, 2010

Analysis

Maple Bond Market Revives as Canada Yields Drop: Canada Credit

Bloomberg  Doug Alexander and Chris Fournier Feb 6, 2010

News

Global Financial Stability Report:Navigating the Financial Challenges Ahead

IMF  Oct 9, 2010

News

Fitch: Leveraged Loan Market Rebound Expected to Continue in 2010 But Challenges Remain

BusinessWire  Jan 25, 2010

Analysis

U.S. High Yield Default and Recovery Rates 2009 Review and Outlook

Fitch  Verde and Rosenthal Feb 4, 2010

Analysis

Top 10 Differences Between Municipal Bonds and Corporate Bonds

FitchRatings (free registration)  Eric Friedland Feb 4, 2010

News

Nearly 5 Trillion Yuan Debt Issued in 2009

Caixin  Li Peng Feb 4, 2010

News

Leveraged Loans Drop After 11-Week Rally as Investors Shun Risk

Bloomberg  Peker Jan 29, 2010

News

Junk-rated companies need record refinancing

Financial Times  Anousha Sakoui Feb 3, 2010

News

Leveraged loan financing comes out of deep-freeze

Financial Times  Nicole Bullock Feb 3, 2010

Blogs

Wall of Junk Debt Maturities Looms, Moody’s Says

DealBook  Feb 2, 2010

Analysis

Monetary Developments in the Euro Area, December 2009

ECB  Jan 29, 2010

News

Virgin, Hexion Lead Record January for High-Yield Bond Sales

Bloomberg  Coppola Jan 29, 2010

Blogs

Corporate Bonds: Still an Opportunity?

Seeking Alpha  Paolo Pezzutti Jan 29, 2010

News

Corporate Bonds Beat Stocks Most Since February: Credit Markets

Bloomberg  Paulden and Salas Jan 29, 2010

Analysis

From boom to bust: towards a new equilibrium in bank credit

ECB  Speech by Lorenzo Bini Smaghi Jan 29, 2010

News

Eurozone business lending lags behind recovery

Financial Times  Ralph Atkins Jan 29, 2010

Research

When will the "bond market crash" occur? In 3-4 years?

Natixis  Jan 28, 2010

News

Ready, steady, spend

Economist  Jan 19, 2010

News

Saudi takaful growth boosts local bonds

Arabian Business  Frederik Richter Jan 25, 2010

Analysis

Inevitable deleveraging process will weigh on medium-term growth prospects: US: From private to public indebtedness | German coalition sticks to tax reform | Fixed Income Outlook: Sideways until late 2Q10 | EUR-USD: bearish near-term outlook

UniCredit Group  Ed and Nikolaus Keis Jan 22, 2010

News

Leveraged Loans Ramp Up

Wall Street Journal  Kate Haywood Jan 16, 2010

News

Yield Junkies Return to Bond Market

Wall Street Journal  Peter Lattman and Mike Spector Jan 19, 2010

Blogs

Junk-bond junkies party on…

FT Alphaville  Jan 20, 2010

Opinions

No one in their right mind thinks the US is going to default

FT  Eatwell and Reoch Jan 19, 2010

News

Emerging market bonds shed junk status

Financial Times  David Oakley Jan 13, 2010

News

European sovereign bonds seen as riskier than corporates

Financial Times  David Oakley Jan 12, 2010

Opinions

Norway business: Corporate bond market revives

Economist Intelligence Unit  Jan 12, 2010

Blogs

S&P says Corporate Downgrade Potential Declines to Lowest Level in 14 Months

Research Recap  Dec 28, 2009

Blogs

Moody’s Sees Junk Bond Default Rate Falling Sharply to 3.3% By Year End as Rate Declines for First Time Since Jan 2008

Research Recap  Jan 12, 2010

Analysis

Bond rally continues but risks lie ahead

Financial Times  Jan 12, 2010

News

Rate rise fears spark rush to issue bonds

Financial Times  Jennifer Hughes Jan 11, 2010

News

Speculative default rates decrease, Moody’s says

FTAlphaville  Tracy Alloway Jan 11, 2010

News

Bank Profits Drive Earnings in Q4; Without Banks Earnings Index May Fall

Bloomberg  Lynn Thomasson Jan 11, 2010

News

Europe braced for boom in junk bonds

Financial Times  Anousha Sakoui and Nicole Bullock Jan 10, 2010

News

CLOs set for comeback

Financial Times  Henny Sender Jan 8, 2010

News

Commercial Paper Outstanding Falls Most in a Decade

Bloomberg  John Detrixhe Jan 7, 2010

Analysis

U.S. Corporate Credit Commentary: The Long March Begins

FitchRatings (free registration)  Mark Oline Jan 7, 2010

News

US sees flurry of corporate bond offerings

Financial Times  Jennifer Hughes and Nicole Bullock Jan 7, 2010

Opinions

Greece not the only word

Financial Times  Jan 6, 2010

News

Riskiest Junk Bonds Shrug Off Distress on Recovery

Bloomberg  Bryan Keogh and Sapna Maheshwari Jan 5, 2010

Analysis

Market Review and Outlook: Financial Markets in 2010

Schroders  Robert Farago Jan 5, 2010

News

Europe banks on U.S. model for financing

Wall Street Journal  Richard Barley Jan 5, 2010

News

World Credit Market Shrinks First Time in 15 Years, Mizuho Says

Bloomberg  Yusuke Miyazawa Dec 30, 2009

Analysis

U.S. Credit Perspectives: Picking the Winners

PIMCO  Mark Kiesel Dec 29, 2009

Analysis

On Wall Street: A tonic that works too well

Financial Times  Henny Sender Dec 28, 2009

Blogs

Is there a Goldman CDO scandal?

Reuters  Felix Salmon Dec 24, 2009

News

ECB calls for more clarity in bond market

Financial Times  Jennifer Hughes Dec 24, 2009

Opinions

Charles Goodhart warns of return to recession as bank lending falls

Telegraph  Ambrose Evans-Pritchard Dec 22, 2009

Analysis

Triple-A Debt Harder to Find

New York Times  Una Galani and Agnes Crane Dec 23, 2009

Analysis

S&P’s ‘weakest links’ list falls sharply

Financial Times  Anousha Sakoui Dec 22, 2009

Analysis

Developing Asian Local Currency Bond Markets: Why and How?

ADBI  Mark M. Spiegel Dec 21, 2009

Analysis

Leverage Constraints and the International Transmission of Shocks

Reserve Bank of Australia  Michael B Devereux and James Yetman Dec 21, 2009

News

Sales of dollar junk bonds hit record

Financial Times  Aline van Duyn and Nicole Bullock Dec 20, 2009

News

Moody's 'axe blow' to rating on Spanish debts

Telegraph  Ambrose Evans-Pritchard Dec 18, 2009

Opinions

Asian sovereigns won't retreat from the debt markets yet

FinanceAsia  William Hess Dec 17, 2009

Analysis

Fitch: U.S. High Yield Market Growth Expected to Continue in 2010

FitchRatings (free registration)  Dec 17, 2009

News

India: Kerala Plans 1st Islamic Bond as Dubai May Curb Funds

Bloomberg  Anil Varma Dec 17, 2009

Opinions

Muck in the fuel pipe: Europe's corporate credit crunch; Europe’s banks will struggle to lend their clients a hand when demand revives

Economist  Dec 10, 2009

News

Carlyle, Blackstone Reduce Prices for Cobalt, Team Health IPOs

Bloomberg  Michael Tsang Dec 16, 2009

Analysis

Return of junk-rated bonds

Financial Times  Jennifer Hughes, Michael Mackenzie, Anousha Sakoui and Nicole Bullock Dec 16, 2009

Opinions

Corporate insolvencies - is one crisis like the other after all?

Deutsche Bank Research  Sebastian Kubsch Dec 10, 2009

Analysis

Fitch: U.S. High Yield Default Outlook Much Improved Though Risks Linger

FitchRatings (free registration)  Dec 10, 2009

Analysis

Nordic credit quarterly: 2010 – Credits entering mature stage of rally

SEB  Dec 9, 2009

Research

Foreign Bond Markets and Financial Market Development: International Perspectives

ADBI  Jonathan Batten, Peter Szilagyi and Warren Hogan Dec 8, 2009

Opinions

LSE's new electronic trading in bonds: Get ready for a fixed-income revolution

Times  Sean Farrell Dec 8, 2009

Opinions

China viewed most difficult country for distressed debt investors

FinanceAsia  Winnie Tang Dec 7, 2009

News

Asian Development Bank Prices Yuan Bond Sale at 4.2%

Bloomberg  Dec 4, 2009

Analysis

Fitch sees strong free cash flow in 2010 as US companies crimp capital spending

Research Recap  Dec 1, 2009

Blogs

S&P says up to 75 Western European companies could default on debt in 2010

Research Recap  Dec 2, 2009

Opinions

Gearing Up Regulatory Frameworks and Regional Cooperation—A New Era of Growth in Asian Bond Markets

ADB  Speech by Bindu Lohani Dec 2, 2009

News

S&P says European companies face $1.5 trillion funding shortfall next year

Telegraph  Ambrose Evans-Pritchard Dec 2, 2009

Analysis

Baltic Fixed Income

SEB  Andrius Olechnovičius and Jurgis Rosickas Dec 2, 2009

Analysis

Fears grow about overheated US debt market

Financial Times  Henny Sender Dec 1, 2009

Analysis

Kamakura Reports First Deterioration in Corporate Credit Quality in 8 Months

Kamakura Report  Dec 1, 2009

Analysis

U.S. Corporate Capital Expenditure Study: Maximizing Free Cash Flow for Financial Flexibility

FitchRatings (free registration)  Michael Weaver and Mark Sadeghian et al Dec 1, 2009

Analysis

Germany: Increased Credit Constraints: Ifo Business Survey for November 2009

CESifo  Nov 30, 2009

Blogs

The secured bond market - a new trend?

Sober Look  Dec 1, 2009

News

Dubai Crisis Tests Laws of Islamic Financing

New York Times  Heather Timmons Nov 30, 2009

News

Germany: Angela Merkel alarmed by worsening credit crisis

Telegraph  Ambrose Evans-Pritchard Nov 30, 2009

Blogs

British Banks May Feel Most Pain if Dubai Defaults

DealBook, New York Times  Cyrus Sanati Nov 30, 2009

News

Investors face huge losses as debt-ridden Dubai World is abandoned by government

Times  David Robertson Nov 30, 2009

Opinions

Dubai Crisis Makes its Way to Asia: Malaysian and other Islamic bond issuers could suffer

Asia Sentinel  Philip Bowring Nov 30, 2009

Analysis

Dubai Standstill in Debt Repayment: More Manageable For Now

United Overseas Economic-Treasury Research  Jimmy Koh Nov 30, 2009

Blogs

Mr Barroso goes to Beijing - and achieves nothing; Dubai - Greece etc.; Germany plans a new a new scheme to alleviate the credit crunch

Eurointelligence  Nov 30, 2009

Analysis

Russian Corporate Bonds

Fitch Ratings (free registration)  Nov 24, 2009

Analysis

Local Currency Bonds in Emerging East Asia Top $4 Trillion: Asian Bond Monitor November 2009

ADB  Nov 24, 2009

Analysis

Asia Bond Monitor - November 2009

Asian Development Bank  Nov 24, 2009

Analysis

Swedish fixed-income and foreign exchange markets: Riksbank's risk survey autumn 2009

Sveriges Riksbank (Swedish Central Bank)  Nov 20, 2009

Analysis

Corporate Bond Market Remains Attractive

ING Investment Weekly  Nov 24, 2009

Analysis

China’s banks face overseas pitfalls

Financial Times  Jamil Anderlini Nov 19, 2009

News

China Banks Fill Syndicated Loan Void as RBS Retreats

Bloomberg  Nov 20, 2009

News

Seoul to allow naked short selling of bonds

Financial Times  Song Jung-a Nov 20, 2009

Blogs

Leveraging Big-Time by Local Development Companies

Elite Chinese Politics and Political Economy  Victor Shih Nov 18, 2009

Analysis

SIFMA Q3 Research Quarterly

SIFMA Securities Industry and Financial Markets Association  Nov 17, 2009

RGE GLOBAL ECONOMIC OUTLOOK

Table of Contents

Economic Outlooks:
U.S. | Japan | China | Eurozone
Germany | France | UK | India | Brazil

Global Issues
Growth and CPI | Commodities | Trade | Imbalances

FEATURED ISSUE

U.S. Labor Markets

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Featured Analysis

Comparing 2010 Growth Forecasts for Major Economies

Rachel Ziemba, Elisa Parisi-Capone, Christian Menegatti, Arpitha Bykere, Bertrand Delgado and Mikka Pineda Jan 21, 2010

“Emerging markets, particularly those with strong balance sheets in Asia and Latin America, will display a stronger recovery and outperform advanced ones, further increasing their share of global output.”

Featured EconoMonitor Post

Europe EconoMonitor

The Option of Last Resort: A Two-Currency EMU

Michael G. Arghyrou and John Tsoukalas Feb 7, 2010

First, we would like to clarify that we are

[...]

FEATURED @ RGE

Canada: Real Estate Sector

Do Vulnerabilities Loom as Canadian Housing Revives?

Ukraine: Domestic Politics

Ukraine’s Presidential Runoff: Uncertainty Lingers as Prime Minister Refuses to Concede Defeat

United States: Labor Market

Job Losses in the U.S. Bottoming Out: Has the Unemployment Rate Peaked?

The Group of Eight (G8)

G7 Ministers Focus on Financial Reform, Not Currencies

Has the G20 Superseded the G7/G8?

China: Export Sector

China's Current Account Narrowed in 2009