Crossover names drive rally on strong earnings as European traders return
Several high yield borrowers have made strong improvements on Tuesday as the post-Jackson Hole credit market rally has extended from Friday, with European traders returning after their long weekend

Retailer jumps on PE rumours while markets stay rooted in Jackson Hole
UK supermarket retailer Sainsbury's has been a notable mover in credit this week, as the wider market waits tentatively on Friday's Jackson Hole movement in the US and fund outflows signal nervousness about US Federal Reserve policy and escalating turmoil in Afghanistan

Chinese credit makes gains as Europe and US slump on Fed taper fears
Chinese credit spreads on Thursday depicted an island of optimism as global credit and stocks - including its own - slumped against a mounting confluence of concerns

Bank's macro credit trading head lands buy-side job at Citadel
An experienced credit trader at a large US bank has taken on his first buy-side role 

Travel co among underperformers as credit gives up gains
European credit is softening away from its recent tights in what is shaping up to be a fourth week of range-bound trading, with credit strategists identifying valuations as a key obstacle to improvement at the index level

Lingering covid vies with inflation as top credit threat, finds BofA
Covid-19 lingering is catching up with inflation as credit investors' number one worry, Bank of America's August survey has found. The picture for central bank purchases is bullish, but strategists see industrial and bank senior bonds as shorts for contrarians over the summer

Millennium senior tranche trader jumps to Verition
An experienced synthetic structured credit trader has left Millennium Management in New York to join Greenwich headquartered Verition Fund Management

Fidelity adds senior hire from Madison Capital to new direct lending team
Fidelity Investments has hired a former managing director at Madison Capital to its new direct lending team

B. Riley hires ex-Jefferies high yield head and plans fixed income expansion
B. Riley Securities has hired Tim Sullivan as head of fixed income with the firm expanding its fixed income division

Credit Fundraising: Blue Owl and WhiteHorse gain from improving animal spirits
Fundraising perked up in July as managers raised $14.9 billion for credit funds - the third highest monthly amount this year

JP Morgan AM taps Wells Fargo duo to lead private debt expansion
JP Morgan Asset Management has extended its private credit business with a new global performing credit group, hiring former Wells Fargo Asset Management officials as co-heads 

CLO funds defy soft market to deliver yet again
Corporate credit rallied in the second quarter, while CLO spreads dripped wider — but that hasn’t stopped CLO funds outperforming yet again

Broadening SRT market defies spread compression
Credit spreads are close to all time tights — high yield, courtesy of CDX HY, recently hit its tightest level since January 2007 — but the significant risk transfer (SRT) market is one of the few pockets of credit where pricing is wide of pre-covid levels

Loan investors reap windfall from meme stock craze
The so called “meme stock” craze is having a tangible positive impact on certain companies’ loan prices

China teaches tough lessons to foreign investors
China’s regulatory crackdown on some of its fastest-growing industries created shockwaves that have reverberated widely, dragging on US and European credit at the end of July.

Coronavirus delta dilemma puts reflation trades into reverse
Concern over the covid-19 delta variant dented investor optimism in July and looks set to hold back credit spread improvement in August, as focus turns to rising cases in the US and Germany

Fund performance: long-short funds challenge CLO strategies
CLO funds are maintaining their stranglehold on our top 10, but long-short credit funds are giving them a run for their money

Credit hedge funds (August 2021)
Credit hedge fund returns

Ucits at a glance: mid market fund leaps into top four
The majority of Ucits funds end Q2 on a high note as 76% of those in our database recorded positive performance in June

Credit funds at a glance (August 2021)
A round up of fundraising and people moves in credit

SVP doubles assets from 2020 as it launches $5 billion distressed fund
Strategic Value Partners has closed a $5 billion distressed debt fund, which it says has made it one of the “largest global investors in the distressed debt and special situations space”.

Morgan Stanley IM rakes in $1.6 billion for junior debt fund
Morgan Stanley Investment Management has closed its latest junior direct lending fund, North Haven Credit Partners III, at $1.6 billion

US plays catch up with Europe as spreads reconverge
There has been a slight softening of European credit on Tuesday, even as stocks hold onto their record highs and US credit spreads take their chance to close the gap after recent underperformance

Middle east firm hires high profile loan official to build on control CLO equity business
Middle east asset manager Lakemore Partner is doubling down on CLOs with the control CLO equity investor hiring one of the biggest names in the loan and CLO management business

Silver Point raises $2 billion for direct lending
Silver Point Capital has raised $2 billion through its direct lending business for Silver Point Specialty Credit Fund II. The firm says this is its hard cap and that $1 billion was its target