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Global corporate defaults on fastest pace since 2009 according to S&P
6 months ago
The number of corporate defaults has risen dramatically year-to-date, according to S&P Global Ratings, driven by a doubling of the rate of defaults in Europe -
Fitch notches up US lev loan and HY 2023 default rate forecasts
1 year ago
Fitch Ratings has raised its US corporate institutional high yield bond default 2023 forecasts from 3%-3.5% to 4.5%-5%, and its leveraged loan default forecast from 2.5%-3% to 4%-4.5% -
Silver Point hires experienced credit trader
2 years ago
Silver Point Capital has hired an official well-versed in CLOs -
Nuclear power plant seizure amps up commodity chaos
2 years ago
The high volatility driven by Russia's invasion of Ukraine is taking financial markets to new extremes, with credit ending the week once again hitting new widest spreads since mid-2020 -
Credit awash with volatility in first week but investors load up
2 years ago
It has been a volatile opening week to the year for credit, but one in which investors have allocated bullishly to credit funds -
Brookfield hires industry veteran as public securities CIO
2 years ago
Brookfield Asset Management has hired a long-serving credit and equity market professional as chief investment officer for its public securities group -
Investors shrug at new Evergrande bond deadline a week on from roll havoc
2 years ago
Chinese real estate giant Evergrande looks unlikely to meet a $45 million bond payment due on Wednesday despite reports it plans to sell a $1.5 billion commercial bank stake. But credit markets are showing very little reaction despite initial default concerns having up-ended CDS index rolls only last week -
Credit index tranche trading on the rise amid low dispersion
3 years ago
At its halfway point, 2021 is shaping up as another big year for credit index tranche trading, with new investors having entered the market and dealers projecting full-year volume could vie with 2020’s record of recent times. -
Head of alternative credit among Pimco's new managing director cohort
3 years ago
Pimco has promoted seven to managing director including its head of alternative credit and private strategies -
Marathon hires high yield senior portfolio manager from JP Morgan AM
4 years ago
Marathon Asset Management has hired a senior high yield portfolio manager in New York to help develop the firm's long-only high yield business -
Credit event auctions mount as European resistance breaks
4 years ago
Two constituent defaults in iTraxx Crossover — the first to hit the European on-the-run index in almost two years — have made 2020 the second busiest year ever for credit event auctions -
LP round up: managers keep fundraising hopes high as GSO targets $7.5 billion for mezz offering
4 years ago
Institutional investors allocated $1.6 billion into credit this week, according to documents seen by Creditflux -
Tabula launches ETF to short US high yield credit
4 years ago
Tabula Investment Management, a fixed income exchange traded fund (ETF) provider, has added a product that offers short position exposure to North American high yield corporate credit -
LP round-up: talf and dislocation funds win as pensions allocate $350 million to credit
4 years ago
Investors poured in $350 million to eight credit-focused funds, primarily to credit dislocation funds. Private debt continued to remain stead with investors maintaining or increase allocations -
If history repeats itself, the best CLO play could be to hold equities
4 years ago
After a futile scramble for liquidity, LyondellBasel filed for bankruptcy in the early morning hours of 6 January 2009. Bad luck for CLO managers that were holding the loan? Not at all -
PE firms look to go it alone as credit units reach maturity
4 years ago
Private equity firms are starting to weigh up the merits of housing private debt businesses, with TPG Capital the latest to contemplate splitting with its credit business TPG Sixth Street. It follows EQT Capital, which announced a strategic review in January centred on parting ways with its credit unit. -
Texas pension appoints CIO
4 years ago
Teacher Retirement System of Texas has appointed a new chief investment officer, effective from January 2020 -
Boeing/Airbus dogfight widens spreads as WTO ruling exposes Europe's trade weaknesses
4 years ago
The World Trade Organisation’s go-ahead for the US to impose $7.5 billion of tariffs on imports from the EU has sent credit spreads sharply wider. And, according to latest credit research from Bank of America Merrill Lynch, it exposes Europe’s “Achilles heel” -
If national income were a four-cylinder engine, the US economy is really only firing on one
5 years ago
The US economy’s reliance on consumers increases the likelihood of further rate cuts and diminishing returns for credit investors -
CLOs are pricing with an acronym premium rather than an illiquidity premium
John Popp of Credit Suisse Asset Management takes our credit quiz
5 years ago -
Credit traders' kickstand: nervous equilibrium gives way to weakness as earnings and tariffs weigh
5 years ago
Healthy fund inflows, European and US holidays, and a thinning primary market helped sustain credit spreads this week, but a weaker turn today shows this is a fragile equilibrium and company earnings misses are starting to be punished more severely -
New manager Resco lands ex-credit head to found advisory board
5 years ago
Resco Asset Management, a London based asset manager set up last year, has appointed the first of an anticipated three advisory board members -
Pacific Gas & Electric credit event posed following Chapter 11 filing
5 years ago
The Americas Credit Derivatives Determinations Committee has been asked to rule on whether Pacific Gas and Electric has triggered a credit event, after the San Francisco headquartered firm filed for Chapter 11 bankruptcy protection for the second time in its history -
BlueMountain hires ex-Deutsche levloan and high yield analyst
5 years ago
The new hire will support portfolio managers responsible for the firm's investments in CLOs -
MidOcean floats second tactical credit fund
6 years ago
MidOcean Credit Partners has launched its second tactical credit fund, which will invest in "off-the-run" high yield and leveraged loans, Creditflux understands
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