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Fund performance: Wake us up when September ends
1 year ago
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return. -
Secondary CLOs stand firm as credit markets take a hit
2 years ago
Macro weakness is seeping into credit with CDS indices gapping wider and US loans suffering a setback after dropping below 95 points this week. Traders say the CLO secondary market has reflected this turn in sentiment, with did-not-trades racking up – although spreads have held up better than other parts of the credit market -
Ucits at a glance: LBBW shines as Ucits take a turn for the worse
2 years ago
Ucits fund returns -
It's all relative: IG index drifts wide of 50bp as European CLO triple Bs outperform
3 years ago
US investment grade credit has been an underperformer in the last few weeks with CDX IG trading north of 50 basis points again. But European CLO triple Bs are looking strong while there is a stronger bid for two- to three-year paper in the US -
It's all relative: CDX HY touches record tights but junior US CLO tranches leak wider
3 years ago
Credit spreads are marching tighter, but someone forgot to tell the CLO market. European and US CDS spreads have moved in step with each other for the most part with investment grade and high yield tightening 4-6% in the last week, whereas CLOs have been losing ground -
Fund performance: Lightning strikes twice as range of credit funds deliver
What seemed like a chance occurrence in February has struck again in March, as seven categories make our top 10 best performing hedge funds -
It's all relative: CLO spreads explore record tights as credit indices hit impasse
3 years ago
CLO spreads are grinding to ever tighter levels, despite a flattish week for credit in which corporate credit indices have ended up more or less unchanged -
It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
3 years ago
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018 -
It's all relative: senior CLO tranches tighten 18% in Europe as CDS indices sit out rally
The corporate credit rally in January is notable because some assets tightened to levels not seen in over a decade (loans), others rallied albeit with a lag (CLOs) and the most liquid stream of credit (CDS indices) defied moves in other asset classes to widen
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Europe leads corporate credit rally, but US outperforms in CLOs
3 years ago
iTraxx Crossover has been the CDS market's outperformer this week, tightening over 30 basis points, or 11.4%, to trade at 235bp today. But in the CLO market, US deals have come out on top thanks to a BlackRock CLO that priced its double Bs at some of the tightest levels this year -
Credit fundraising: distressed keeps in favour but CLO ETFs emerge
4 years ago
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies -
Fund performance: Credit funds post double-digit gains
4 years ago
June returns have once again been led by CLO funds, as seven out of the top 10 belong to our CLOs category. -
Don’t be a hero: managers opt to go market-neutral
4 years ago
There’s yet more volatility in store later this year — that’s the consensus according to credit portfolio managers that have spoken to Creditflux. What they are unsure about is the scale and direction of this movement, which is leading them to prune their portfolios with an emphasis on market-neutral tactics -
They said it: "Imagine a garden party and all of a sudden a big wasp shows up"
4 years ago
On Creditflux’s US CLO webinar last month, Napier Park’s head of US CLO investments Serhan Secmen described the March sell-off as a garden party -
Bankrupt Hertz runs out of gas with CLOs holding $245 million
4 years ago
CLOs hold $245 million of Hertz’ debt as the US-based car rental company drives into bankruptcy protection, with the coronavirus panedemic putting brakes on the Estero, Florida-headquartered's firm car rental operations -
Spanish bank prices €972 million SRT with triple As paying 31bp
5 years ago
Cajamar Caja Rural, based in southern Spain, has priced a €972.1 million significant risk transfer (SRT), according to market sources
16 results found Showing page 1 of 1
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