We made the most of a tricky situation
The contrast between 2021 and the following 12 months could not have been starker. But although some heavy hitters remained on the sidelines, 94 US CLO managers priced new deals in 2022

CLO managers return to new issues
The frenetic pace of refis and resets slowed in the third quarter as CLO managers – new and old – turned their attention to building assets

Road haulage: Clear road ahead for truckers
A tailwind of economic growth is helping trucking companies – and they are avoiding the temptation to overload on debt and capacity

Coal mining: In a hole and still digging
Some coal prices have fallen by almost two-thirds in the past three years – and for heavily-indebted coal mining companies the outlook is black

European CLOs take on the wall
Many European CLOs will exit their reinvestment periods within a year and will be vulnerable to rising default rates. Peter Melichar looks at the likelihood of this leading to tranche losses

Flying with fallen angels
Arik Ben Dor and Zhe Xu show that investors can improve their returns if they hold bonds that are downgraded from investment grade instead of dumping them as quickly as possible

Recent euro CLOs trade out of trouble
Some 2007 European CLOs have shaken off their difficult start and, with the help of active trading strategies, have performed strongly in the past six months

Credit managers wake up to Ucits
One big disadvantage of Ucits III funds – the strict rules about liquidity – is also their trump card

You don’t have to get sexy anymore to generate yield
You don’t have to get sexy anymore to generate yield

End view: You need to be nimble
End view: You need to be nimble