CLOs' favourite telco jumps tighter following strong results
French telco Altice is in focus on Friday as credit puts thoughts of a broader directional trade on hold

CLOs show coronavirus resistance even as bonds and loans suffer
CLO managers are - so far - looking defensively positioned in relation to the coronavirus outbreak, with only two of the five largest portfolio sectors listed as very negative in latest Wells Fargo research. But investor fears have all but closed the loan and bond primary pipeline, while lower rates signalled by the US Federal Reserve could spell a fall in leveraged loan and CLO demand

Silence is not golden: loan investors fret over terms in Apollo-sponsored deals
Leveraged loan investors have expressed concern over terms in some Apollo-sponsored deals, which allow the borrower to incur additional first lien debt that not only matures earlier than the existing debt, but also does not trigger “most favoured nations” (MFN) protection for the outstanding debt