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Tim Backshall

@credittrader

Chief Credit Strategist. Capital Structure Arbitrageur. Husband. Dad. Drinker. Ultra-rider. Brit. Ex-Rugby Pro. Arthritic to the core. Impatient Observer.

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VIX vs HY credit - systemically cheap but now VIX seems low

Seems $SPY likes $HYG fair-value - will $HYG pop or bonds drop?

$HYG vs HY - pretty fair (but <

biggest daily drop in US Macro Data (Citi ECON) in 11 months

Aussie Manufacturing plungefest continues...

HY vs $HYG - may have been some pressure but small

JPY 200DMA

Dim-Sum Bond Yields leaking back to recent highs...

European Sovereign CDS-Bond Basis (Bonds underperforming)

DTCC Data seems to show 2 legs 'test' of market for $JPM CDS Tranches

Told-you-so Dance in 3...2...1 %ES_F vs credit

Zee Price Stabilitee in European Energy Prices...

USA CDS vs TSY CTD rich/cheap

$SPY rich vs $HYG and CONTEXT via

Equities ($ES_F) reverting to credit. $HYG ugly

Spanish Bond Yields from 2wk tights to nr wides in 5 hours...

Interesting resistance here for $JPM at yest VWAP

Ye Olde Short Finls, Long Sovs Trade today in Europe...

$ZNGA vs $FB

GGB2s -51% from PSI restructuring... nothing to see here