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Fund performance: CLO funds dominate top 10, but long-short and Ucits funds find places too
7 months ago
CLO funds made sure to end the year their way: once again they claimed most of the top performance spots. Six of the 10 best-performing funds in December have a majority of their assets invested in CLOs. -
Position cutting tames market rally and strategists warn on primary impact
2 years ago
Caution is the watchword across financial markets on Tuesday, with the strong recent run giving way to hedging and position cutting ahead of a much-anticipated US inflation reading on Wednesday -
IG payers provide best tail-risk hedges: Barclays
2 years ago
Investors seeking the cheapest tail risk hedge should look to CDX IG payers, while iTraxx Europe payers are the best hedge against further European underperformance, finds Barclays -
JP Morgan splits global head of institutional structuring role as it promotes three
2 years ago
JP Morgan has rejigged part of its credit structuring business with a set of promotions for officials who have covered SRTs, CLOs and CSOs as part of cross-asset roles -
Russia debt hits default levels amid FX and asset lock-up
2 years ago
Russia appears to be on the brink of default on its debt, with bonds and CDS pricing in the likelihood of an imminent trigger -
Infrastructure manager targets €1 billion for eclectic mix of project finance debt and SRTs
2 years ago
A Copenhagen-based firm is launching its first credit fund and has partnered with an SRT specialist in London for a component of its potential €1 billion offering -
Lazard targets IG, crossover and HY in long/short credit ucits fund
2 years ago
Lazard Asset Management has unveiled a new credit ucits fund that will invest primarily in investment grade, crossover and high yield bonds in Europe and North America -
Meag hires experienced credit specialist for top fixed income job
3 years ago
€328 billion asset manager Meag has appointed a head of active fixed income in Munich to oversee a range of assets including credit -
Fairwater eyes tranches and options as prospects ‘multiply’
3 years ago
Fairwater Capital is looking to capitalise on rising credit volatility by crafting a strategy that makes full use of the growing number of products in the credit derivatives industry -
Go long index mezz tranches to pick up spread: Citi
3 years ago
Citi research has outlined some of the opportunities that have arisen in the index tranche market as a result of elevated correlation -
Morgan Stanley expands index tranche trading with London hire
3 years ago
Morgan Stanley has added to its index tranche trading prowess by hiring a London-based market maker for the asset class as well as credit options -
Former JP Morgan credit correlation head launches $200 million fund
4 years ago
The former head of credit correlation trading at JP Morgan has launched a global credit fund management business with $200 million of assets, according to market sources -
Wirecard triggers first European CDS credit event of 2020
4 years ago
Wirecard has triggered a bankruptcy credit event, the Determinations Committee has ruled, making it the first European CDS name of 2020 to require settlement at auction -
Autos dominate in BofA €25 billion fallen angel watchlist
4 years ago
Downgrade impact for fallen angels in the coming months could be more extreme than during the 2008 financial crisis, Bank of America strategists have warned, as they identified €25 billion worth of debt at European investment grade companies most at risk of falling into high yield territory -
Italian banks push wider on EU coronabond stand-off
4 years ago
Political divisions over tackling the coronavirus economic crisis are front and foremost for European credit traders this week ahead of an EU leaders virtual summit on Thursday, with Italian and Spanish banks among today's worst performers in CDS -
Credit traders' kickstand: rolling with the pain, as relative value trades come unstuck
4 years ago
What a difference a month - and a pandemic - make. This time in February, no-one could have imagined a global financial crisis would be unfolding, that credit performance would be a battle between a virus and some of the biggest government and central bank interventions on record, that today's iTraxx Europe and CDX index rolls would traverse unprecedented ranges, that option expiry strikes would be blown beyond recognition, or that cash and CDS differentials would be whipsawing with such violence -
CDS index rolls to proceed on time despite record volatility and lockdowns
4 years ago
This Friday's move into new CDS index series will go ahead as scheduled, administrator IHS Markit has said, having sought advice on whether to postpone the roll date due to coronavirus-led market volatility -
Credit hits new wides as US and Europe ramp up coronavirus battle plans
4 years ago
An emergency weekend rate cut by the US Federal Reserve as well as population lockdowns in France and Spain underscore that measures of economic risk have moved to a more systemic level as world governments scramble to deal with the impact of the coronavirus outbreak -
Credit traders’ kickstand: roll nightmares haunt CDS market as indices whiplash
It’s Friday 13th, but CDS traders will be hoping the worst of the horror shows are behind them as they try to regather their shredded nerves in time for next week’s biannual index rolls -
Curve inversion for airlines and freight as Trump travel ban sparks sell-off
4 years ago
Airlines, travel firms and shipping companies are among some of the credits hit hardest by US president Donald Trump’s imposition of a ban on travel from mainland Europe, a move that sent the iTraxx Crossover index back to its widest level since October 2012 -
Credit breakdown as one-day volatility outstrips financial crisis
4 years ago
Credit default swap markets have surpassed the record one-day volatility of the global financial crisis, with indices surging to new wide prints as the spiralling impact of the coronavirus outbreak brings government lockdowns on travel while wreaking havoc on oil prices and supply chains -
Apollo CLO and CSO specialists earn promotion to partner
4 years ago
Apollo Global Management has promoted two members of its global structured credit team, according to market sources -
Franklin Templeton reorganises long-short credit fund team
4 years ago
Asset manager Franklin Templeton Investments will make changes to the portfolio managers for the Franklin K2 Long Short Credit funds, effective from October -
Nordea AM portfolio manager joins Capital Four
5 years ago
Capital Four Management has appointed Nordea Asset Management portfolio manager Stine Milling Pilegaard as a director in its Copenhagen office -
Barclays rehires high yield credit trader from Goldman Sachs
5 years ago
A high yield specialist has become the second credit trader in as many months to rejoin Barclays from Goldman Sachs
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