Goldman builds out exotics strategy amid tranche market high
The index tranche market is gaining support, with Goldman Sachs adding to those building up their presence, officials at the bank confirm

Apollo appoints head of credit valuations from sell-side
Apollo has appointed a head of credit valuations, as its previous head of credit valuations has transitioned internally to cover private equity valuations

Credit managers hunker down as idiosyncratic risks persist
A slew of earnings reports from credit managers and business development companies shows that deal-making and performance are robust, but great importance is being placed on credit selection.

LCH goes live with Sub Fin CDS clearing
Clearing house LCH has expanded its CDSClear service to clear the iTraxx Europe Subordinated Financials index and its 30 single name CDS constituents

CSO arrangers look to build on $65bn of issuance in 2019
The synthetic bespoke tranche market this year has fallen short of expectations in terms of overall issuance volume, but ends with transformative inroads being made.

‘Ex’ index trades take off as dispersion peaks
A gap is yawning between how the weakest constituents of CDX HY and iTraxx Crossover trade versus their broader portfolios, leading investors to find new ways to hedge and capture idiosyncratic risk.

Barclays rehires high yield credit trader from Goldman Sachs
A high yield specialist has become the second credit trader in as many months to rejoin Barclays from Goldman Sachs

Bespoke gains pull CLO buyers as market tipped to hit $100bn
Synthetic bespoke issuance could catch up with the more visible CLO market this year, say structured credit specialists

CDS food fight as UNFI sues Goldman Sachs over SuperValu deal
United Natural Foods Inc (UNFI) has summoned Goldman Sachs to court, accusing the bank of bad faith in the way it handled the US retailer’s buyout of SuperValu last year, a transaction which caused the target firm’s CDS spread to bloat by over 200bp in one day

Past returns: drawing crowds is not easy for bond trading platforms
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