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CLO pipeline: high triple C bucket opens a Gateway to pricing
4 years ago
In less than ideal market conditions, even experienced CLO managers are learning new tricks to keep the pipeline full. Of the 11 US new CLOs that appear in the pipeline this week, two are high triple C bucket transactions -
Norinchukin's CLO portfolio decreases for first time in years
4 years ago
Japanese CLO heavyweight Norinchukin posted its financial statements yesterday, where it reported a 1.42% drop from its statements at the end of the second quarter -
We didn’t take full advantage of volatility
The Creditflux CLO Census found that CLO arrangers and investors were more bullish than managers, who accepted they could have done more to capitalise on loan volatility late last year4 years ago -
CLO supply set for double-digit drop in 2020, says JP Morgan
4 years ago
US CLO supply in 2020 will be as much as 20% down on 2019, while European issuance will fall 13% year-on-year, predict JP Morgan strategists in a research note. Even so, new CLOs should still outpace existing deal paydowns, as well as high yield primary market net new issuance -
Reality bites after credit traders abandon Brexit hedges
4 years ago
Rediscovered faith in the ability of the UK and European Union to reach an agreement before the 31 October Brexit deadline has helped fuel a surge tighter of credit spreads, led by UK financial names. But that break with caution faces an immediate reality check today, following admissions a lot more work is needed -
CLO pipeline: newcomers look to impress at debutante ball
4 years ago
The pace of CLO issuance accelerates with each passing week, with debutantes lining up to join more prolific managers as Europe builds momentum and the US floodgates open -
They said it: "I saw a CLO OM which ran 484 pages"
4 years ago
At Creditflux’s Credit Dimensions event, JP Morgan’s Zaheen Mir argues that CSOs are simpler to understand than CLOs -
CLO pipeline: Barclays and Goldman branch out to mid market
4 years ago
The US CLO pipeline has been full in recent weeks and this continues, with 18 new issue CLOs and a further nine refinancings appearing this week. -
Arrival of five-year bespokes draws in CLO investors
4 years ago
Synthetic bespoke tranches are undergoing a major shift, with dealers projecting five-year business to supersede previously dominant shorter tenors by the end of 2019. -
CLO pipeline: refinancings to make a comeback
5 years ago
CLO refinancings look set to continue their recent surge in the US CLO market, with another five refinancings and two resets appearing in the pipeline. -
Bespoke gains pull CLO buyers as market tipped to hit $100bn
5 years ago
Synthetic bespoke issuance could catch up with the more visible CLO market this year, say structured credit specialists -
Tabula launches ETF to capture iTraxx Crossover and CDX HY volatility premia
5 years ago
Tabula Investment Management, a European fixed income exchange traded fund (ETF) provider, has launched a product aimed at capturing the volatility premium embedded in index options on iTraxx Crossover and its US counterpart CDX HY -
CLO equity a "top trade" for 2019, but beware ratings risk, says JP Morgan
5 years ago
CLO equity is one of the top trades of 2019, according to research analysts at JP Morgan in a research paper published on Friday, noting that the asset class offers ‘sticky capital in a volatile cycle' -
JP Morgan makes big hire to its global credit trading desk
5 years ago
An experienced banker who has covered CLOs, CSOs, loan TRS and credit derivatives, has joined JP Morgan after leaving BNP Paribas -
Weighted average life divides CLO industry
5 years ago
Creditflux’s second CLO Census reveals stark differences of opinion on weighted average life and par-flush for US CLOs. But there is a clear consensus on which bank is best at CLO execution -
LCH expands into US with CDSClear as JP Morgan goes live
5 years ago
CDSClear, the Paris-based credit default swap clearing house of LCH, has expanded its reach into the US with JP Morgan becoming the first US bank to offer client clearing -
Global head of credit correlation leaves JP Morgan to launch new hedge fund
5 years ago
Market sources say that a high profile figure, known to have been responsible for unwinding JP Morgan's 'London whale' positions, has left the bank to start his own hedge fund -
JP Morgan keeps up synthetic CDO momentum
6 years ago
Sources say that JP Morgan priced a $500 million synthetic CDO last month, underlining its position as one of the key deal arrangers in this market -
JP Morgan AM launches new multi-asset investment trust
6 years ago
A manager's best mate is its fund: JP Morgan AM launches Multi-Asset Trust (Mate) -
CVC Credit appoints chairman as credit CIO steps down
6 years ago
CVC Credit Partners has today announced that Stephen Hickey will be leaving the firm for personal reasons. Joining the firm will be former JP Morgan leveraged finance head Hamish Buckland -
JP Morgan promotes experienced manager to head European CLO business
6 years ago
The reshuffle at JP Morgan fills the hole left by former head of European CLOs Amberine Nagree -
Past returns: early risk retainers
7 years ago
Five years ago in Creditflux we reported on JP Morgan shutting down its special situations prop trading desk in London -
Rising rates could boost AT1 bonds, finds JP Morgan
7 years ago
Rising rates will have positive implications for additional tier one bonds, finds a note from JP Morgan's credit research team -
JP Morgan's head of European CLO origination set to relocate to New York
7 years ago
The head of JP Morgan’s primary European CLO team is in the process of relocating from London to New York, according to market sources. -
Investors allocate to European retail funds as bond issuance picks up
7 years ago
US high yield retail outflows fail to discourage European bond issuance, according to a research note by JP Morgan
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