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IACPM survey finds credit PMs still gloomy, but less so than last quarter
1 month ago
Respondents to the latest IACPM Credit Outlook Survey are still negative about future credit conditions, but less so than in previous surveys -
Muni shop expands into leveraged finance with slew of senior hires
1 month ago
Boutique investment bank Middlegate Securities has announced the formation and launch of Middlegate Global Credit, a new leveraged finance division -
AllianceBernstein wins mandate for New Mexico high-yield strategy
7 months ago
The State of New Mexico State Investment Council named AllianceBernstein as the new manager of its short-term high yield strategy during its 26 September meeting -
Fund performance
7 months ago
Positive August for credit sees CLO funds on top again -
New York-based asset manager launches floating-rate credit fund
7 months ago
EUR 30m fund focuses on floating-rate debt investments -
Neuberger Berman secures £2 billion mandate for credit fund
9 months ago
One of the UK's largest pension funds has awarded Neuberger Berman a £2 billion mandate for credit -
US pension plans termination of manager to bring "portfolio closer to market duration neutral"
1 year ago
Arkansas Teacher Retirement System is planning to reallocate assets to two existing fixed income managers -
Fitch raises European default rate assumptions with loans in tougher spot than bonds
1 year ago
Analysts at Fitch Ratings have raised their base-case leveraged loan default rate for end-2023 in Europe to 4.5% from 3.5%, and their severe-case rate to 6% -
Chinese real estate hit for six as Powerlong triggers credit event
1 year ago
Powerlong Real Estate Holdings has triggered a credit event, the Credit Derivatives Determinations Committee has ruled – taking the stack of Chinese housing sector contract defaults to six since December -
ECB acts on inflation but gas and other worries grow worse
1 year ago
If European Central Bank officials breathed a sigh of relief when their first hike in 11 years did not immediately rattle markets — or even dared believe a more hawkish signal helped confidence — the reprieve was short-lived -
German firm takes big hit even as most of Europe gains ground
1 year ago
Adler was an outlier in Thursday trading as it bucked overall market improvement following the collapse of a deal to sell shares in a subsidiary. But the Bank of England soon took the shine off credit sentiment in any case -
Fund performance: Select funds shine in dreary June for credit hedge funds
1 year ago
Credit funds suffered through June, as only 8% of listed funds reached the black. This made June the fourth month in a row in which negative returns increased -
Mixed signals abound but European weakness persists
1 year ago
European financial markets are losing further ground against the US in a cautious start to the week, as the euro approaches parity with the dollar for the first time and latest data supports the Federal Reserve maintaining a hawkish approach to policy -
Europe vs US arb hits resistance as dislocation becomes more extreme
1 year ago
Recession fears have pushed several different asset classes to key psychological levels, while leaving European and US credit markets at a high level of dislocation -
CLO spreads are not pricing in recession: JP Morgan
1 year ago
CLOs are priced fairly for a growth slowdown but not a recession, according to JP Morgan credit strategists, who warn spreads are at risk if US growth contracts -
Real estate stock manoeuvre sparks credit spread blow out
1 year ago
Adler Group's move to 'squeeze out' equity from a subsidiary business has prompted a sharp sell off in bonds and CDS attached to the company -
Beneath the triple C: CLOs take first knock since covid scrapes
1 year ago
CLO managers have been hit by a number of loan downgrades to triple C for the first time since the wave of pandemic-related cuts trickled to a halt in early 2021. Companies indirectly linked to the health sector suffered most in May -
Fund outflows extend despite sharp improvement in credit performance
1 year ago
This has been a much better week for credit and equity market performance than last, but that has not stopped the tide of investors looking to withdraw their money from funds for such risk assets -
Credit and equity retreat from extremes but oil slumps further
2 years ago
Financial markets are mounting a tentative recovery on Tuesday, having been hammered to new bearish extremes at the start of the week -
Investors look to US response after Putin lights touch paper on Ukraine intervention
2 years ago
Credit investors are left facing a what-happens-next moment after Vladimir Putin recognised the Donetsk and Luhansk regions of Ukraine as independent states, paving the way for Russian forces to intervene. In response the US has moved swiftly to impose new sanctions targeting the two regions -
Investors rush to hedge Russia as barrage of threats tee up nervous weekend
2 years ago
The prospect of a flare-up between Russia and Ukraine has left credit spreads back at their recent wide levels going into the weekend, with European investment grade credit particularly feeling the heat following 'false flag' headlines on Friday -
Ukrainian volatility speaks loud and clear after Russia talks fail
2 years ago
Ukrainian and Russian credit are ending the week with renewed volatility, as failed attempts at diplomatic talks appeared to exacerbate rather than simmer down tensions between the countries -
Relief rally for riskiest credits brings reversal on dispersion and first loss trades
2 years ago
Some of the European high yield credit market's riskiest corporate credits are enjoying a strong relief rally, among signals of reprieve from the woes that have beset them in recent weeks -
Fund performance: Wasserstein's early 2021 performance drives it to the top
2 years ago
The final top 10 of 2021 featured a variety of funds as five different strategies were ranked among the best. US high yield was the most highly represented with two BlackRock funds and an Angel Oak in the top 10 -
Heavy market rout takes credit back to November 2020 levels
2 years ago
High volatility is gripping financial markets at the end of a week that has been decisively bearish for credit spreads, as concerns about the end of central bank stimulus and warnings of a Russian invasion of Ukraine next month layer on pain for investors
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