Each week the Valens Credit team highlights our most interesting insights from across our tools and our analysis. This week interesting insights include:
Credit and Market Mispricings
Most Compelling Credit v Equity Market Mispricings
AN, CYH, NAV, SGMS, THC
Most Compelling Credit Rating Dislocations
ATW, DAL, EXPE, GM, TSX:MEG, NYT, R, TWTR, VRX, YRCW
Most Compelling CDS Market Mispricings
AVP, AMD, CHK, HNT, NAV, PKD, RIG, SHLD, UIS, X
Most Compelling Bond Market Mispricings
AKS, AMD, ATW, CHK, MDR, TSX:MEG, NAV, RIG, SGMS, VRX
Highlighted Top Ideas
DF – Dean Foods Company
JCP – J. C. Penney Company, Inc.
NAV – Navistar International Corporation
Other Recent Analyses
SPLS – Staples, Inc.
AGN – Allergan plc
Quantitative Credit Outlier Report Review
CHK, NAV, and RIG top our quantitative outlier report this week. 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.
If you are interested in seeing any of the highlighted analyses, please contact the Valens team at email@example.com