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Private credit firms begin creating desks for push into secondary trading
3 days ago
A number of private credit firms are looking to push into secondary loan trading, a signal that the USD 1.7 trillion asset class is perhaps beginning to mature and resemble other fixed income markets. -
Jefferies ramps up private credit trading
4 days ago
Jefferies is building out its trading of private credit loans, joining a rush of banks and managers developing a new secondary market for the product -
Octaura launches new protocol for CLO liquidations
7 days ago
Electronic loan trading platform Octaura has released a new set of processes to streamline loan BWICs and OWICs -
Apollo eyes IG private debt trading
12 days ago
Apollo Global Management is looking to create a trading desk for investment grade private debt -
Antares plans unit buying private credit loans from other lenders
1 month ago
Antares eyes buidling out a private credit secondary business to buy loans from other lenders -
Octaura preps for tranche trading launch after success of loan platform
2 months ago
Octaura, the electronic trading platform that has been shaking up the leveraged loan market, is advancing its plans to launch CLO tranche trading this year -
KopenTech adds all-to-all electronic trading for CLOs
9 months ago
KopenTech has launched a new all-to-all trading protocol for CLO securities and successfully completed its first two trades, a trading model where all market participants, whether on the sell-side or the buy-side, can anonymously trade with each other -
Secondary CLO prices continued to rise across June
1 year ago
US BWIC secondary prices continued to rise in June, according to a report by KopenTech. -
Leveraged loan market shrinks as CLO trading grows
1 year ago
A lack of primary issuance has caused the leveraged loan market to shrink this year for the first time since the aftermath of the global financial crisis, according to market sources. -
Large CLO investor sells three post-reinvestment anchor equity positions
1 year ago
Three control equity positions were on sale on Thursday at 9am EST (2pm GMT) in the same list. The bwic listing was made up of three 2017 US CLOs, all of which are post-reinvestment and have not been reset in the years since -
Primary US CLO triple As 40bp cheaper after secondary rally, says Barclays
1 year ago
A rally in the secondary market for CLO triple A paper last week has meant that primary spreads are cheaper on a relative value basis by around 40 basis points -
European and Asian surge extends as inflation and gas improvements fuel rally
1 year ago
US credit remains the laggard as spreads elsewhere extend their strong start to the year, taking European and Asian indices back to the recent tight levels -
Brighter start for credit in 2023 as investors return with bid for risk
1 year ago
Credit markets have opened the year on a positive footing, with Europe particularly buoyant as investors lift CDS hedges they placed at the end of 2022 and some bonds receive enthusiastic bids in the secondary market -
Largarde snowballs puncture complacent calm and shocks spreads wider
1 year ago
Credit markets are ending the week on a big push wider, after European Central Bank chief Christine Lagarde delivered the surprise that had been missing from other central bank messaging -
Credit belatedly gives up gains after flurry of central bank hikes
1 year ago
Credit markets barely flickered on Wednesday’s US Federal Reserve announcements, but successive central bank rate hikes on Thursday have caused spreads to widen as traders prepare for the festive season slowdown -
CDS volume jumps by 50% as investors seek new ways to do business
1 year ago
Credit derivatives traders are wrapping up a bumper year, in which there was a big increase in volume and a growing number of use cases for the product -
"With tools and data available, why do fake sellers need to abuse the b-wic process for price discovery?"
1 year ago
Penalties for CLO b-wic sellers who routinely do not trade would improve the secondary CLO market -
Early Christmas for credit longs as US inflation delivers huge rally
1 year ago
Credit markets have rallied sharply after the latest US reading of inflation came in lower than had been largely anticipated -
Major fund withdrawals undermine credit momentum
1 year ago
Credit funds are extending their run of inflows into the end of the year, but investment grade momentum took a dent last week due to investors in one big fund pulling their money -
Buy-out rumours send US high yield company back to January spread levels
1 year ago
Not many single name credits are ending 2022 at the same spread levels they entered the year, but one US high yield company has that profile after its rally of the past three weeks picked up speed following buy-out rumours -
Capex and real yields will split winners from losers in '23: BofA
1 year ago
Companies able to undertake capital expenditure will be the winners in 2023, while those historically most sensitive to rising real yields should inspire caution, say Bank of America strategists -
Credit and commodities diverge after China abandons zero-covid approach
1 year ago
Markets present a mixed picture at the start of the week, with Europe – still processing Friday’s US jobs numbers – opening cautiously after China’s retreat from strict zero-covid policies boosts commodity prices but raises fears of an infection wave -
Rebuke for optimism as US jobs send market bulls running for cover
1 year ago
Investors’ determination to maintain an optimistic outlook on US Federal Reserve policy hit a point of reckoning on Friday, with hot US jobs numbers adding weight to committee members’ message that there is still a lot more work for them to do -
Powell outlook brings risk buyers out in droves, but reality check looks soon to follow
1 year ago
Comments by US Federal Reserve chairman Jerome Powell on Wednesday on the pace of future rate hikes have prompted a sharp rally across global financial markets, including credit. But dissenting voices have already begun to point out the enthusiasm is likely overdone -
Credit Suisse spreads hit year's new wides
1 year ago
Protection buying against a Credit Suisse default has taken the bank’s five-year CDS to the widest levels of the year, with the front end of the curve increasingly inverted
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