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Credit markets rally, but hopes rest on US stimulus vote
4 years ago
Credit spreads are rallying back today, along with other financial markets, as hopes rise the US congress will agree a massive fiscal stimulus package and other governments in major economies echo a "whatever it takes" line to combat the coronavirus outbreak -
Investors pull $10.9 billion out of corporate IG ETFs in one week
4 years ago
Outflows from loan and high yield bond exchange traded funds have exacerbated the liquidity pressure facing credit investors, sources say, as market volatility intensifies after economists slashed global forecasts -
Credit traders’ kickstand: weaker mood, but primary drive strengthens
4 years ago
The primary market for high yield bonds is open again, after a pause around the US holiday on Monday, with issues in Europe today from the likes of SIlgan and Catalent striking a bullish tone and setting the scene for an expected flurry of deals next week. But this comes as credit generally weakens, with concerns about the spread and reappraisal of coronavirus cases causing spreads to push back from their recent tights -
McClatchy bankruptcy adds to slew of US media credit events
4 years ago
The McClatchy Company, a media sector constituent of CDS index CDX HY, has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled -
UK financials push wider following Irish election surprise
4 years ago
UK and Italian financials are the weakest part of the credit market today, against an otherwise flattish backdrop, with the Irish general election result adding to concerns about how Brexit negotiations will fare this year -
Credit traders’ kickstand: primary market flood gives basis for relative value
4 years ago
A deluge of investment grade bond supply in the first two weeks of the year has weighed on the spread basis between the cash market and CDS, leaving opportunities for traders who believe this dislocation should correct over the coming weeks -
Credit traders' kickstand: convergence trades rewarded as financials outperform
4 years ago
Compression is the watchword in credit at the start of the year, with the market’s navigation of post-crisis tight prints bringing an outperformance of financial names over corporate borrowers and US over European indices -
Credit traders enter 2020 a world away from 2019's opening blues
4 years ago
CDS markets are showing what a difference a year makes, with indices beginning 2020 at post-crisis record or near record tights. And concerns such as Brexit or US-China (and lately UK-China) tensions are doing little to dampen the mood in today's buoyant trading session -
Investors increasingly see ESG as fiduciary duty, State Street survey reveals
4 years ago
North American investors are most likely to view ESG as a fiduciary duty, while European investors are driven by regulation, performance and reputational risk, according to results from a survey conducted by State Street Global Advisors -
Border to Coast pension seeks exposure to UK investment grade credit
5 years ago
Border to Coast Pensions Partnership is set to begin a manager selection process, seeking UK investment grade credit and global multi-asset credit funds -
Brookfield strikes deal to buy 62% stake in Oaktree
5 years ago
Brookfield Asset Management has agreed to buy a 62% stake in Oaktree Capital Management in a move which will lead to the creation of one of the largest asset managers in the business. -
Demonised triple Bs could outshine angelic neighbours
5 years ago
There has been a stampede to denounce triple B corporate credit, but investors ditching this rating band may not only miss solid returns but find bigger problems up the spectrum, investors and analysts tell Creditflux. -
Carlyle performance dips in Q4, but credit teams ride global volatility
5 years ago
Credit fund performance dipped for the Carlyle Group in the fourth quarter, as market volatility and fund outflows put a dent in the industry’s much stronger performance of the previous three quarters -
Ares ups its target for US senior direct lending growth to $4.7 billion
5 years ago
Following $5 billion of inflows into global direct lending in the third quarter, Ares has upped the target for its US direct lending strategy -
Seven deliverables valid for Sears CDS auction, as seven others split DC panel
5 years ago
There will be seven obligations deliverable into an auction on 14 November to settle credit default swaps referencing Sears Roebuck Acceptance Corp, the Americas Credit Derivatives Determinations Committee has decided. But members of the 15-strong DC were split over whether to include another seven potential deliverables that did not make the cut -
Rallye races towards over 50s club in CDS as Astaldi faces Crossover index ejection
5 years ago
Rallye, the parent company of supermarket chain Casino Guichard-Perrachon and a former fellow-constituent of credit default swap index iTraxx Crossover, has surged wider to near 50 points up front in five-year CDS trading -
Portfolio managers continue to be pessimistic on credit outlook, survey finds
5 years ago
A survey by the International Association of Credit Portfolio Managers states that 56% respondents believe average corporate default rates will increase over the next 12 months -
Nomura and Investec report 48% gender pay gap
6 years ago
With the deadline for UK companies to publish their gender pay gap reports looming at midnight tonight, a slew of asset management firms have filed reports showing male employees are paid up to 49% more than their female counterparts -
MFS fixed income veteran gives up PM duties on $1.45 billion of funds
6 years ago
A fixed income specialist at MFS Investment Management is relinquishing portfolio management duties on four closed-end debt funds with collective assets of about $1.45 billion -
Lazard announces 2017 earnings and considers C Corporation structure
6 years ago
Bermuda-headquartered Lazard is considering a ‘C Corporation’ structure, under which the corporation would be taxed separately from its owners -
BDC reports $25.3 million increase in AUM
6 years ago
FS Investment Corporation (FSIC) has cited the “very competitive” nature of the credit market during its third quarter 2017 earnings release -
Anchorage raises $43.5 million for short credit strategy in 12 months
6 years ago
New York-based Anchorage Capital Group has raised a total of almost $45 million for its short credit strategy in a year, according to US SEC filings -
Alva's 'disruptive' fund joins Creditflux listings
7 years ago
A London-based manager is making waves with a tech-focused credit fund -
SEC fines Pimco over “odd-lot” bond mis-marking
7 years ago
The SEC has fined Pimco for mis-valuing assets in its credit focused Pimco Total Return ETF.
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