January 4, 2017

Valens Credit Weekly Insights for January 4, 2017


Each week, the Valens Credit team highlights our most interesting insights from across our tools and our analysis. This week’s interesting insights include:

Credit and Market Mispricings

Most Compelling Credit v Equity Market Mispricings
AVP, CYH, NAV, THC, UIS

vcwi-1-2017-01-04

Most Compelling Credit Rating Dislocations
ATWBLDR, EXPE, GMR, TWTR, UIS, VRX, X, YRCW

vcwi-2-2017-01-04

Most Compelling CDS Market Mispricings
AKS, AVP, CHK, CYH, HOV, HTZ, PKD, SHLD, VRX, YRCW

vcwi-3-2017-01-04

Most Compelling Bond Market Mispricings
AMD, ATW, AVP, CHK, CYH, FTR, GME, NAV, RIG, X

vcwi-4-2017-01-04

Highlighted Top Ideas
AMAG – AMAG Pharmaceuticals, Inc.
GME – GameStop Corp.
UVV – Universal Corporation

Other Recent Analyses
Healthcare
AGN – Allergan plc

Quantitative Credit Outlier Report Review
SHLD
and X top our quantitative outlier report this week.

Aggregate Credit Market and Credit Fundamental Review
IG markets are currently fairly valued, as are HY markets. However, even after XO CDS has normalized in the last several months, it remains substantially above XO iCDS levels. This indicates that the XO market is overstating credit risk.

Click here to view the report in its entirety.

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