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Ratio of CLO managers adding risk falls to lowest level since 2009, JP Morgan finds
4 years ago
The proportion of CLO managers looking to add risk has fallen to its lowest level since 2009, according to a market survey carried out by JP Morgan’s research desk -
CLO 2020 outlook: lower volumes predicted, but it’s not all bad news
4 years ago
US CLO issuance is expected to drop by roughly 20% next year, according to bank research desks. This comes after a solid 2019 in which $101 billion of new US CLOs have priced through 92 managers, as Creditflux goes to press -
Central banks may consider ESG-compliant CLO paper, says Moody's
4 years ago
Central banks in Italy, the Netherlands, and France have begun integrating ESG into their investment process, a process which could reduce collateral refinancing risk of ESG compliant securitisations including CLOs, according to Moody’s -
CLOs' risk to Japanese banks 'subdued' despite ratings and mark-to-market risk, says Bank of Japan
4 years ago
The risk to Japanese banks posed by their investments in CLOs is ‘subdued’, according to the Bank of Japan Financial System Report -
18% of CLO managers priced their first deals post-January 2018, says Maples
4 years ago
Launching a new CLO management platform is ‘extremely difficult’ although the rewards appear to be worth the risks, according to new research from Maples Group -
Another 2008 would leave IG CLOs without losses but default rates will climb, says BofE
4 years ago
CLOs will see greater losses in a downturn than they did in the last financial crisis, according to the Bank of England’s Financial Stability Report -
Fourth quarter CLO equity volatility is taste of things to come, says BAML research
5 years ago
CLO equity performance in the fourth quarter of 2018 gave an example of how mark-to-market returns could erase carry returns for investors, Bank of America Merrill Lynch says in its latest research piece -
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' -
CLO issuance will temper as market remains in 'exploratory mode', notes BAML research
5 years ago
Following a bout of volatility in the loan market, CLO issuance will be tempered as debt and equity investors rediscover correct pricing levels, according to a new research paper published this week by Bank of America Merrill Lynch -
CLO spread tightening more likely than widening in Q1, says Wells Fargo research
5 years ago
CLO spreads are more likely to move tighter than wider in quarter 1 2019, despite the widening trend accelerating through December, according to Wells Fargo analysts -
Euro SME CLO market to remain at low issuance levels, DBRS predicts
6 years ago
A new report by credit rating agency DBRS says the European securitisation market has much to be positive about in 2018 – but warns that the SME CLO market is expected to remain at low issuance levels -
Citi finds that triple A investors should look at short-dated CLO resets over refis
6 years ago
Citi's credit research team has put together a report assessing how US CLO triple A tranches are pricing relative to their inherent refinancing risk. -
Two days left to make your views on the CLO market heard
6 years ago
The first Creditflux CLO Census closes on Friday 18th August, giving the CLO market only two days to make their views count. -
Citi models likelihood of CLO refis over resets
6 years ago
Control CLO investors are often faced with a dilemma - should we refi or reset? New research has modelled which outcome is more likely -
CLOs dodged recent loan defaults, according to Wells Fargo
6 years ago
CLO exposure to three recent US loan defaults has been minimal, according to Wells Fargo research -
US CLO refis cut triple-A spreads by 24.5bp on average, finds Moody's
7 years ago
US CLO refinancings in the last year have resulted in triple-A funding costs falling by an average of 24.5 basis points, according to research published by Moody’s yesterday. -
Risky portfolios pay off for 2013 CLOs, finds Wells Fargo
8 years ago
2013 CLOs with the riskiest portfolios have paid the greatest returns to equity, but they are risky in different ways -
CLO investors are not getting the full picture on cov-lites, according to report
8 years ago
A new research piece by Moody's Analytics highlights the gap between reported CLO cov-lite concentrations and true cov-lite concentrations in some CLOs. -
Euro 1.0 CLO mezz is undervalued, says Citi
9 years ago
Citi highlights junior debt from legacy European CLOs as one of its top trades in research published last week -
Non-US banks have stepped up senior US CLO purchases, says RBS
10 years ago
Non-US banks now account for over one-third of buyers of US CLO triple A bonds, according to a report published by RBS last week -
High leverage spells spread-widening for Asian credits, SocGen says
10 years ago
Asian corporate credit spreads are likely to widen next year as many companies reach unsustainable levels of leverage -
European high grade credit will return 1.5% in 2013, says JP Morgan
11 years ago
Credit returns will be lower in 2013 than 2012, JP Morgan says, though CLOs look attractive -
UK asset manager hires senior credit analyst in Edinburgh
11 years ago
UK asset manager Scottish Widows Investment Partnership announces hire of Neil Tong to credit research desk. -
Legal & General announces new research hire
11 years ago
US manager announces hire of senior research analyst, focusing on the technology, media and telecommunications sectors. -
Europe 2010 high yield issuance to top $50 billion, says UniCredit
14 years ago
UniCredit’s credit research today anticipates over $50 billion of high-yield new issuance in 2010.
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