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Japanese investors and ETFs bid up CLO triple As as US banks cool off
9 months ago
CLOs saw healthy demand from Japan in the first three months of the year, with Japan Post Bank and Norinchukin each increasing investments in the asset class. Japan Post’s CLO holdings stood at JPY2.3 trillion ($17.51 billion) as of 31 March, an increase of $550 million in the quarter and up 32.7% on the year prior. Nochu added $110 million to JPY6.4 trillion ($48.2 billion), or 13% of the bank’s investment portfolio. -
JP Morgan holds place as CLO market's largest noteholder
1 year ago
JP Morgan remained the world's largest CLO noteholder at the end of the first quarter, with $59.69 billion invested in the asset class as of 31 March - an increase of $1.11 billion from year-end -
Credit bull run falters as central bank glow abates
2 years ago
Thoughts that the credit market had taken a positive directional shift are turning, after Tuesday’s session has brought a sizeable retracement wider, but credit strategists predict an overall firming of tone into the end of the year off the back of dovish central bank meetings -
China contagion fears linger as Huarong rebounds
2 years ago
China Huarong Asset Manager, the state-owned bad debt manager, is back on a path to improvement after shocking markets by delaying its annual report. But questions remain over the extent of government support and the ripple effects to the wider credit market -
Correction: JP Morgan shifts bulk of CLO portfolio to held to maturity
3 years ago
JP Morgan has shifted two thirds of its CLO portfolio to the 'held to maturity' part of its balance sheet, posting $31.15 billion worth of CLO holdings on 30 September of which $20.95 billion were held to maturity -
Big US banks pull back from CLO primary market to preserve cash
3 years ago
CLO triple As have tightened substantially in recent weeks to tights of 155 basis points in the primary market - but sources say the big US banks that typcially invest in these bonds are not buying -
Hedge against coronavirus, says JP Morgan, naming 40 most exposed credits
4 years ago
With novel coronavirus cases rising at what looks to be an exponential rate, JP Morgan strategists have proposed a high yield hedge to address the rising threat to European credit spreads and listed 40 borrowers they think are most exposed to impact -
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 -
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 -
Buy iTraxx Europe equity tranche risk but sell Crossover mezz, says JP Morgan
4 years ago
Investors should stick with ‘search for yield’ ideas in investment grade credit, say JP Morgan credit strategists, including selling iTraxx Europe 0-3% equity tranches delta hedged, going long the 10-year Europe index, and selling credit volatility through index options while buying equity market volatility -
BlackRock unveils ESG-focused emerging market debt suite
5 years ago
BlackRock has launched a series of emerging market debt funds that will have an environmental,social and governance (ESG) focus -
GoldenTree hires JP Morgan executive to head new Australian office
6 years ago
New York-based credit specialist GoldenTree Asset Management has opened an office in Sydney - and hired a JP Morgan executive - as part of its push into the Asia-Pacific region -
JP Morgan overcomes Chinese bond underwriting wall
7 years ago
JP Morgan is the first US bank to get a license to underwrite debt issued by non-financial institutions in China -
Credit manager buys JP Morgan's Asia loan business, sources say
9 years ago
JP Morgan has sold its Asia-based prop unit to a large gobal credit firm with a presence in Australia, according to well placed sources
15 results found Showing page 1 of 1
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