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CSO momentum builds as focus turns to fundamentals
Collateralised synthetic obligations (CSOs) have proved to be a bright part of the credit market in 2022. And participants are daring to dream the coming year will be one of the asset’s busiest. -
One-year CSOs come to fore as investors predict widening
1 year ago
With credit spreads entering the fourth quarter at much the same elevated levels they began Q3, investors are increasingly looking to bespoke tranches as a way of taking advantage while mitigating the market’s tail risks. -
Italian €1bn SRT underlines advantage over CLOs and CSOs
1 year ago
The European CLO market has ground to a halt for the last three weeks, but a €1 billion SRT signed this week underlines there is appetite for some securitisations -
Credit investors eye synthetic tranches as dispersion rises
2 years ago
Dispersion is increasingly important to the credit market — and it is incentivising some CLO investors to add synthetic products to their toolkits -
Blackstone lands big name as bank's synthetic structured credit talisman joins buyside
2 years ago
Blackstone has hired a well known figure from the synthetic structured credit market, with a prominent name in CSOs joining the firm after 18 years working on the sell-side -
High stakes promise big year for new short-dated CSOs
2 years ago
The bespoke tranche market looks set to put in revitalised issuance numbers in 2022 as interest grows in structured assets. But a clear trend is emerging for investors to assume short-dated exposure amid increasing macro and geopolitical uncertainty -
ESG template fires up hopes of CSO issuance
2 years ago
2021 may not have been a year of big volume in the synthetic bespoke market, but primary business is back, and decisive inroads into environmental, social and governance (ESG)-focused issuance bode well for 2022 -
Citi's former correlation trading star takes on new risk head role
2 years ago
Citi's former head of credit correlation trading has taken on a new role in the bank, becoming head of in-business market risk for global markets -
Zais and BNP Paribas strike ESG breakthrough with climate change CSO
2 years ago
The growing theme of environmental, social and governance standards helping to revitalise the market for collateralised synthetic obligations appears to have taken a big step forward, with Zais Group and BNP Paribas partnering on a first-of-its-kind deal that could lay a template for future transactions -
CSO pipeline strengthens following ESG breakthrough
2 years ago
ESG criteria and longer investment horizons are driving new business in a resurgent bespoke tranche market, say dealers. And while this is unlikely to get 2021 near to a 2019-like haul of deals by year end, hopes are high that volume is firmly back on an upwards traject -
Resurgent CSO market bets on ESG and new equity
3 years ago
After a challenging 2020 the synthetic bespoke market has begun this year in style, with a pipeline of deals, talk of new investors and hopes that ESG could play a key role in driving deal volumes -
Equity tranche shorts gather for fallen angels
3 years ago
Investor views are starting to form around on-the-run iTraxx and CDX index tranches, following their rolls into new versions at the end of September and start of October -
The tranche market shines, whatever your view on credit
3 years ago
Index tranche volumes have reached record levels this year and CSOs have withstood the covid crisis. Panellists at the Credit Dimensions webinar outlined a range of trades in a thriving market -
CSOs start printing again with new money ready to invest
3 years ago
The synthetic bespoke market is putting behind it the turmoil of recent months, with a pipeline of new CSO transactions starting to price and a swelling supply of new money lining up to invest. -
Index tranche volumes go into overdrive as CSOs stall
3 years ago
CDS index tranche trading has gathered pace during the coronavirus pandemic, putting the asset class on course for a post-2008 crisis record. -
CSOs are hurting but will emerge stronger, say sources
3 years ago
It is unsurprising that bespoke synthetic tranches have suffered during the covid-19 crisis, as they are backed largely by real money investors that have gone outright long credit risk. But more noteworthy and reassuring, say sources, is that most have held firm in their positions and look set to stick with the asset class — in contrast to the 2008 global financial crisis exodus -
High yield index widening drives equity tranche trades
4 years ago
The blow-out in corporate credit spreads is creating opportunities in the index tranche market.
17 results found Showing page 1 of 1
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