U-turns abound as markets pivot sharply on government and central bank rethinks
A big rally in financial markets on Tuesday has driven credit spreads sharply tighter, with a softening outlook for central bank actions building on relief that the UK government has opted to U-turn on its poorly received high bracket tax cut plan

LP round up: $2.7bn flows to 20 credit managers as investors battle PE overallocation
Investors faced huge headwinds in September with inflation, rising interest rates, and geopolitical turmoil, alongside the UK gilts sell-off at month end

US loan index falls below 92 to almost wipe out gains since July
The S&P/LSTA Leveraged Loan Index sank to an average bid of 91.92 cents by Monday, down by two points in as many weeks, wiping out almost all the gains seen in the late-summer market rally

Apollo reaches for bigger slice of pi(e) with 5% Diameter stake
Apollo Global Management has bought a 5% stake in credit fund and CLO manager Diameter Capital Partners, cementing the relationship between the firms

Credit Suisse blow out puts financials in spotlight
Credit spreads have pushed wider on Monday, with underperformance in investment grade, as sharp oil price moves accompanied intensified focus on the banking sector amid a slew of worrying commentary on Credit Suisse

AnaCap's credit team spins out to form Veld
Veld, Veld, Veld. If it isn't AnaCap's former credit business

Partners rejigs cap stack as price talk widens on upcoming European CLO
Morgan Stanley is marketing the deal, which it says will price this week

CLO arrangers and managers prepare for new marketing rule from November
CLO arrangers will need to work together with CLO managers in the coming weeks to ensure compliance, interpret the rules and set guidelines over what they can and cannot communicate with investors without disclosures

"Ugly" eurozone inflation numbers cap off torrid week for credit
Credit spreads are heading tighter into the weekend, as investors rebalance positions against a backdrop of easing currency pressures but a challenging array of European inflation numbers and a highly charged Brazilian election month about to kick off

European CLOs emerge as gilt-y pleasure for US investors amid record b-wic volume
European CLO b-wics have flooded the market this week with sources indicating elevated supply on Wednesday and Thursday resulted in some of the busiest days on record. Officials at Bank of America say their weekly trading volume approached €1 billion  

Price talk emerges on upcoming CVC European CLO
The manager is targeting pricing for the week commencing 10 October

Investors nurse wounds after UK scuppers credit expectations
Financial markets are picking up the pieces on Thursday following an extremely volatile session ignited in large part by UK economic mishap, which sparked fears of a financial crisis and necessitated the central bank’s intervention

Ukraine auction settles CDS below expected recovery
An auction to settle sovereign CDS contracts referencing Ukraine produced a final price slightly below expectations, despite net buying demand for bonds to physically settle contracts

Glennmont raises €250m for renewable energy credit fund
Glennmont Partners has raised €250 million for a fund that will invest in renewable energy and sustainable infrastructure

GoldenTree hits $3bn hard cap on distressed debt fund
GoldenTree Asset Management says it has closed its latest distressed debt fund, Distressed Fund IV, at its $3 billion hard cap

UK and Italy in focus as credit rout extends
UK and Italy sovereign credit spreads are heading wider on Wednesday, as the market-wide sell-off takes indices to new extremes for the year

Ukraine auction looks set to avoid Russia-style bond squeeze
An auction to settle sovereign CDS contracts referencing Ukraine looks set to produce a final price much more in line with bond trading levels than the result earlier this month for Russian Federation contracts

So long! US high yield index jumps tighter with roll from old to new series
Credit spreads have retraced tighter on Tuesday, after two days of heavy selling pressure, as investors in US high yield index CDX HY get set for its roll into a new series

European credit returns to peak covid levels with UK getting pounded
What looks set to be another challenging week for financial markets has opened as bearishly as last week ended, with credit spreads in Asia and Europe once again surging to new wides

Changing streets: private credit official joins Adams Street to build European offering
“Europe is fertile ground for sponsor-backed private credit deals," says Adams Street after hiring a European private credit head

Capital Four closes €1.5bn direct lending fund 'more than 90%' deployed and launches successor
Capital Four had collected €1.5 billion on a final close of its third senior private debt fund, Capital Four Private Debt III – Senior, exceeding its initial €1 billion target

BofA markets new issue European CLO for GoldenTree
The manager priced its last European CLO new issue in February 2021

Surge in hedging sends credit spreads to year's wides
A busy and bearish week is ending with credit spreads surging beyond their previous widest levels of the year, with Italian elections this weekend adding to caution in Europe after a string of central bank policy decisions reshaped the global economic outlook and the UK government scrambled to address rising energy costs

Axa IM reorganises alternatives unit into five streams amid AUM growth
Axa Investment Managers has reorganised its ‘alternatives’ business into five streams and made four promotions