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It's all relative: CLOs march tighter as macro traders open positive CDS skews
1 month ago
Credit default swaps are back near where they started the year after giving up their early-February gains amid a rise in government bonds. CDS curves steepened over the past month and macro hedging has left indices trading with positive skews. But CLOs paint a calmer picture in which spreads have inched tighter -
It's all relative: Euro CLO mezz rallies to follow month-long IG/HY compression
4 months ago
European credit suffered this week with Brexit talks between the UK and the EU dragging on and both sides conceding that a trade deal is unlikely to be reached by Sunday’s deadline. But European CLO tranches have held up reasonably well with mezzanine spreads tightening by almost 13% in December -
Compression plays out as HY and European CLO double Bs outperform
4 months ago
Investment grade and high yield credit spreads have tightened in sync with each other this week, but CDS and CLOs alike underline that the big theme over the past month has been compression between investment grade and high yield -
Go long CLO triple-A and pick cash bonds over CDS, says JP Morgan
1 year ago
Going long European CLO triple A paper remains one of JP Morgan strategists’ favourite trades following the European Central Bank stimulus announcement last week, despite these tranches having rallied 14bp on average since the bank first backed them. They also predict cash credit to outperform CDS -
Ex-Citi CDO trading chief joins Jefferies as head of European fixed income
2 years ago
Jefferies has appointed a former Citi European credit and pre-crisis CDO trading head to lead its European fixed income business -
Brexit disruption risk for derivatives is uncomfortably high, Nicky Morgan tells ISDA conference
2 years ago
Brexit cast a long shadow over the International Swaps and Derivatives Association’s Europe Conference in London this week, as keynote speaker Nicky Morgan, chair of the UK’s House of Commons Select Committee, said the likelihood of a no-deal scenario is over 50% and warned about the disruption this would cause to derivative markets -
Orchard hires former UBS credit index options and tranches global head
2 years ago
Orchard Global Asset Management has hired an ex-UBS senior correlation trader as a portfolio manager in London -
Mediobanca hires experienced credit trader to build out loan franchise
2 years ago
Mediobanca has appointed an ex-Deutsche Bank senior credit trader as head of loan trading
8 results found Showing page 1 of 1
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