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Valens Credit Weekly Insights for July 21, 2021

July 21, 2021

Featured Top Idea
FANG – Diamondback Energy, Inc.
Buy 2025 5.375% Bonds CUSIP: 25278XAH2 (3.631% YTW, 1.741% iYTW)
Buy 2025 5.375% Bonds CUSIP: 25278XAH2 (3.631% YTW, 1.741% iYTW)

Aggregate Credit Market and Credit Fundamental Review
The IG market is currently fairly valued. HY and XO markets have seen CDS move wider than iCDS again recently even after markets have normalized. Overall, costs of borrowing rose dramatically due to coronavirus concerns, before stabilizing again recently thanks to the Fed’s actions to calm mark