Indian NBFCs: Co-Lending Seems to Be Gaining Traction - Indiabulls/HDFC New Partners in Town
Recent announcement by Indiabulls HF, a large HFC, to completely reorient its business model towards co-lending suggests that co-lending as a...
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Bank Credit Weekly: Repositioning Opportunity from Carry-Trade Unwind as the Treasury Curve Flattens
A confluence of thin volumes, trading holidays and technicals flattened the US rate curve. Bank credit underperformed in a carry-trade unwind. This...
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Bank Credit Weekly: One Size Does Not Fit All
Performance attributes varied amongst bank credit classes. Short duration in IG financials combined with high credit spreads in HY and more...
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Bank Credit Weekly: Duration Admiration
We moved from melt-up to full risk-on duration admiration. Almost all bank bonds tightened globally. Given the rate of change, there are mispriced...
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Bank Credit Weekly: Melt-Up in Asset Prices or Melt-Down in Conviction?
Melt-up in asset prices or melt-down in conviction? Short callable AT1 bonds led the ongoing rally in bank credit. Tier 2 bonds suggest more of a...
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