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While the sell-off in growth stocks and tech stocks has garnered most of the headlines this year, there’s been a quieter sell-off happening in debt markets....

Russia is near to defaulting on up to US$150 billion of foreign currency debt writes Christopher Joye. If China consents to provide military aid to Russia it would...

The demise of Chinese property developers is likely to be the credit story of the year. But as Jonathan Rochford writes, without government intervention it could also...

Following in the footsteps of Evergrande, our credit analysts have provided the following update on two other Chinese real estate companies that are failing to repay...

Strong underlying fundamentals and a favourable outlook for 2022 and beyond are apparent across non-investment grade (IG) credit. Within such markets, issuer default...

Credit investors have good reason to be optimistic about the global recovery trajectory over the next few years, but mainly in developed markets including Australia,...

Investing in Chinese debt used to be easy. Chinese bonds and loans almost never defaulted and when they did there was almost always a government bailout. Recent years...

The US leveraged loan market has had a tough year but the pain is set to continue for years to come. At the start of the year margins were low and competition for...

It seems like we’re back where we were at the beginning of the year, with most asset classes looking rich. In these times some investors are tempted to expand their...

In June 2017 Argentina sold US$2.75 billion of 100 year bonds and I wrote then that “Argentina is unlikely to get through a decade without defaulting let alone 100...

In June 2017, Argentina sold US$2.75 billion of 100 year bonds at a yield of 7.92%. At the time I wrote that this was crazy and reflected a desperate chase for yield...

It’s an issue that has passed under the radar here in Australia but it is of great political, economic, legal and credit risk interest. It’s the argument over whether...

The substantial weakening of corporate insolvency protections announced by the Federal Government effectively gives companies a green light to steal from their...

The US high yield market has grown larger and riskier since the financial crisis. Issuers of debt have the whip hand as buyers compete to gain an allocation in the...

One of the classic signs that the credit cycle is nearing the end is that borrowers that shouldn’t be getting financed not only get funded, but get it at terms that...