Euro SME CLO market to remain at low issuance levels, DBRS predicts
A new report by credit rating agency DBRS says the European securitisation market has much to be positive about in 2018 – but warns that the SME CLO market is expected to remain at low issuance levels 

US mid-market earnings grow 12.8% in Q4 2017, up from 4.9% in Q3
Earnings in the US middle market grew by 12.8% in fourth quarter 2017, while overall revenue grew by 11.5% during September and October 2017, according to a Golub report

Citi finds that triple A investors should look at short-dated CLO resets over refis
Citi's credit research team has put together a report assessing how US CLO triple A tranches are pricing relative to their inherent refinancing risk.

European direct lending up 34% in recent quarter: Deloitte report
Direct lending in Europe continues to boom, according to the latest Deloitte deal tracker, which found a 34% growth of direct lending deals in third quarter 2017 alone compared to third quarter 2016

Private debt performance shines in institutional investing study
A quarter of institutional investors say private debt outperformed their expectations over 12 months to 28 August 2017

Managers plan to lower fees after holding steady for two years, survey finds
More than one-fifth of US-based investment managers said they planned to lower their fees in 2017, according to the Callan Institute’s 2017 Investment Management Fee Survey

Citi models likelihood of CLO refis over resets
Control CLO investors are often faced with a dilemma - should we refi or reset? New research has modelled which outcome is more likely

CLOs dodged recent loan defaults, according to Wells Fargo
CLO exposure to three recent US loan defaults has been minimal, according to Wells Fargo research

Heading tighter into uncertainty
Tightening loan spreads are making the job of a CLO manager harder in both the US and Europe. But credit volatility could be on the horizon

European crossover index to trade 26bp tighter after the roll, says BAML
Protection sellers will be under the most pressure to roll into the new iTraxx credit indices, according to research by Bank of America Merrill Lynch

Rethinking credit value
CLO seniors, cash-CDS basis and tranche shorts were some of bank researchers' top picks last month, as volatility sends analysts back to the drawing board

Investors look to receivers as a cheap way to get long high yield
US high yield options market suggests investors are looking for a cheaper way to go long 

Your credit research picks of 2015
The most read Creditflux news articles last year about research and strategy ranged across the biggest topics in credit, from CLO retention to how shorts affect dealer inventory figures

Impact of downgrades is not priced in
Barclays warned last month that record numbers of companies may become fallen angels in 2016. Here's our summary of that report and eight others that caught our eye

Finding value amid volatility
Researchers and strategists had plenty of tips last month about where to find opportunities in volatile credit markets. We pick 10 of the most eye-catching findings

Barclays snaps up seasoned credit researcher in London
credit analyst leaves European lender after 10 years for UK rival

CDS volumes are down but liquidity levels are healthy, finds Barclays
Single name CDS trading is down 30% on average, but there is more to the story, finds Barclays research