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US Strategy: Tariffs as Repricing Event?

Strategy Analysis: 01 Mar 2018, 9:40 PM ET - The market has been building in very low odds of a trade war event, a NAFTA withdrawal, or a significant escalation of tit-for-tat trade retaliations on a broader scale.  The odds-makers just got a fresh load of input.

Multi-Industrials: 2Q Review, Event Risk & More

Sector Analysis: 21 Aug 2017, 10:17 PM ET - In this report we broadly review earnings trends for nearly two dozen industrial credits, discuss companies with elevated event risk and also highlight new issuance candidates.

US Strategy: Import Tax Pain Ahead?

Strategy Analysis: 03 Jan 2017, 11:03 PM ET - We look at some risks of corporate tax proposals tied to "border adjustments" (i.e. import taxes). Economist advocates make major assumptions on currencies and ignore the wildcard of "behavior" and potential responses to the policies.

CreditSights 12th Annual European Conference

Announcement: 29 Nov 2016, 8:54 PM ET - Download our Conference Mobile App for our upcoming event on Friday 9th December 2016.

US-Japan Trade: New Day, Same Old Deficit

Sector Analysis: 22 Nov 2016, 11:13 PM ET - The Japan trade deficit is a tradition across decades of GOP/Dem leadership with the flow of goods still led by cars/parts (imports) and planes/parts (exports). Yen weakness is hard to complain about when the UST curve is driving it.     

US-China Trade: A Beautiful Mine

Strategy Analysis: 21 Nov 2016, 9:56 PM ET - The game theory of US-China trade negotiations will need two sides to at least be playing the same game. Manufacturing and tech is big in US-China deficit politics, and costs would be high in the event it ends badly. 

China Autos: Tax Cut Drives 1H Sales

Sector Analysis: 20 Jul 2016, 11:54 PM ET - 1H16 auto sales in China have performed better than expected with total sales up 8% YoY benefiting from purchase tax reduction on <1.6L engine vehicles, which is scheduled to expire  Dec 16.

Chinese HY: Where Have All The Proceeds Gone?

Strategy Analysis: 10 Feb 2016, 7:55 PM ET - China's booming onshore bond markets provide a welcome funding source for Chinese high yield corporates. But what are they doing with this money? 

US Industrials 2016 Outlook: Sector Trends (1/2)

Sector Outlook: 18 Jan 2016, 11:21 PM ET - In Part I of our 2016 Outlook, we delve into geographic, end-market, and bigger picture sector trends. We also shifted from an Underperform to a Market perform on our Capital Goods/Diversified universe in December.

Asian New Issuance 9M15: Brake Point

Strategy Analysis: 01 Oct 2015, 9:13 PM ET - New issuance slowed sharply during 3Q15, as risk aversion hit. However the primary markets remain open and the full-year total could still approach last year's record level, thanks to the strong supply at the start of this year. 

Chinese High Yield: Equity Market Rollercoaster

Strategy Analysis: 05 Jul 2015, 7:59 PM ET - What does the turbulence in the Shanghai and Hong Kong stock markets mean for Chinese high yield? 

Chinese High Yield: Key Man Risk

Strategy Analysis: 28 May 2015, 8:55 PM ET - The fortunes of Chinese companies and their owners are often intertwined. We look at the controlling shareholdings and change of control clauses for Chinese high yield bonds. 

Transcript: Has Kaisa Killed Chinese High Yield?

Transcript: 21 May 2015, 9:49 PM ET - In the webinar held on 20 May 2015, we discussed the near-collapse of Chinese property developer Kaisa and its impact on the Chinese high yield market. 

Asia High Yield Snapshot: Full Year Edition

Asia High Yield Snapshot: 12 May 2015, 5:21 AM ET - We update the Asia High Yield Snapshot with FY14 figures and our new forecasts for the companies we cover. Credit quality continues to deteriorate across the sector. 
Focused

Chinese High Yield: Slow Liquidity Leak

Strategy Analysis: 21 Apr 2015, 11:02 PM ET - Signs of tighter liquidity are emerging among Chinese high yield corporates. Over half of the Chinese companies we track posted levels of unrestricted cash below those of short-term debt during the recent FY14 results season. 
Focused

Chinese High Yield Industrials: FY14 Preview

Earnings Note: 12 Mar 2015, 9:25 PM ET - An earnings calendar and our expectations for the 13 Chinese industrial companies in our universe. Reporting season will start in mid-March. 

Using the New E-Mail Alerts System

Announcement: 18 Feb 2015, 11:28 PM ET - CreditSights launched its new beta e-mail Alerts system on  Mon, February 23rd. A new interface allows users to manage their e-mail  Alerts. This is a user guide for managing your e-mail Alerts in the new system.

Announcing CreditSights' New E-Mail Alerts System

Announcement: 12 Feb 2015, 11:27 PM ET - CreditSights announced the launch of its new beta e-mail Alerts system on Monday, February 23rd. Your previous e-mail Alert preferences will be carried over into the new beta e-mail Alerts system.
Focused

HY Note: China Automation - FY14 Profit Warning

HY Note: 30 Jan 2015, 4:11 PM ET - We spoke to China Automation to seek more details on its FY14 profit warning. 

Asia High Yield 2015 Outlook: On Guard

Sector Outlook: 29 Dec 2014, 8:19 PM ET - We are taking a defensive stance towards Asian high yield in 2015. We prefer companies with stronger credit profiles and bonds which enjoy better liquidity in the secondary markets, even if this means sacrificing some yield. 

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