Refine Search
Article Categories
Strategy Tags
- Direct lending (22)
- Emerging markets (2)
- High yield bonds (30)
- Investment grade credit (13)
- Structured credit (14)
- CLO (65)
- Distressed debt (7)
- Leveraged loans (34)
- Synthetic/SRT (27)
Geography Tags
-
The Last Tranche with Christine Ferris
23 days ago
In the latest edition of The Last Tranche podcast we talked to JP Morgan’s global head of CLO primary Christine Ferris about why she loves working with debut managers, despite the extra challenges they face coming to market. -
Rates are moving lower, which makes CLO equity look better versus loans
2 months ago
The latest edition of The Last Tranche podcast talked to new Octagon CEO Gretchen Lam about triple A spreads, CLO redemptions and whether investing in third-party CLO equity makes sense again -
Private credit funds are more stable, lower levered and more regulated than you might think
2 months ago
The private credit market’s steady and impressive growth has caused some pundits to voice concerns about an eventual bubble. While we expect there to be more dispersion in private credit funds’ performance in the coming years, we don’t see signs that a bubble is about to burst. -
The pace in which we are seeing remediation today is very encouraging
8 months ago
Market participants smoothed the move from Libor to Sofr — but there is more to be done -
Fed members need to restore their credibility, which could translate into excessive tightening
8 months ago
Rising wages have boosted spending and GDP — but the party can’t last forever -
Borrowers are finding creative ways to address loan maturities
10 months ago
Amend and extends have been the loan market’s flavour of the year. At the same time, many CLO reinvestment periods are reaching their end because the reset market is virtually closed. -
Past returns: Truly transatlantic
10 months ago
10 years ago we reported on Axa Investment Managers’ plans to enter the US CLO market. -
Past returns: How Hildene took the lead
10 months ago
10 years ago in Creditflux we wrote about Hildene’s novel Hildene Leveraged Credit Fund, which was designed to take equity stakes in Hildene CLOs and provide a warehouse for forthcoming deals -
Past returns: Tracing Fair Oaks’ roots
1 year ago
10 years ago in Creditflux, we reported on Miguel Ramos Fuentenebro’s nascent firm GMB Partners securing its first mandate -
"Investors no longer rely on simplistic tiering models to price CLOs"
1 year ago
CLO investors are taking a nuanced approach to applying manager tiers that goes way beyond using AUM as a proxy -
Past returns: UBS gives up on CLOs
1 year ago
10 years ago, officials at UBS told Creditflux they were not closing their CLO origination business, despite mounting evidence to the contrary -
"Dispersion should manifest in potential fallen angel credits that are likely to proliferate"
1 year ago
IG and crossover names present a compelling alternative to shorting HY credit -
"Conditions making deal financing challenging for issuers can harm beneficial terms for investors"
1 year ago
Direct lending terms look better than at any point in the past decade. But is there enough to go around? -
Past returns: Making CLO triple As more secure
1 year ago
10 years ago in Creditflux, we reported on super-senior tranches being inserted into US CLOs -
“Pension fund managers should look to take advantage of a rare opportunity in corporate CDS”
1 year ago
The October sell-off in gilts highlights a glaring lack of exposure to CDS -
"CLOs could withstand another 13.4% of downgrades to triple C if the price drops to 50"
1 year ago
CLOs are well positioned, even if there are mass downgrades to triple C -
"Value persists in IG, but higher interest rates are a threat. Opening the synthetic toolbox can help"
1 year ago
Fiscal and monetary policy are pulling in opposite directions, but value in IG can be accessed via CDS and CSOs -
"The equity IRRs of enhanced CLOs are nearly all in the bottom decile of the market"
High triple C CLOs sound like a good idea on paper. But in practice, they have not fared well1 year ago -
"Extreme volatility can push BSL yields close to mid market levels, although that trade never lasts"
1 year ago
The two segments of the loan market are on different paths as mid-market volumes rise -
"Short memories forget how rampant anti-EU sentiment was before Mario Draghi became Italy’s prime minister"
1 year ago
Unrest in Italy threatens to escalate into a bigger crisis than Greece in 2012 -
"If earnings weaken, equity and credit markets could enter a new phase in the sell-off"
1 year ago
High yield has outperformed equities since the sell-off this year, but that relationship could change -
"The shutdown of economies in the pandemic showed it’s better to suffer up front"
1 year ago
Rather than prolong the agony, central banks would be better off bunching their planned rate hikes into one -
Past returns: Silvermine CLOs splash the cash
1 year ago
In Creditflux 10 years ago, we reported that three Silvermine Capital CLOs, which had built up $646.5 million of cash, had started buying loans again -
"Derivative longs versus cash corporate shorts looks attractive, especially if we see a market sell-off"
2 years ago
Technicals are keeping cash credit spreads tight, but as central banks reduce purchases there will be relative value opportunities -
Sofr, so complicated
2 years ago
At Creditflux’s US CLO Summit debate centred on Libor and Sofr. Hot topics included tenors, Libor floors being out-of-the money and investors changing their views on spread adjustments
Want all the latest news, comment, analysis and data?