- Direct lending (32)
- Emerging markets (42)
- High yield bonds (remove)
- Investment grade credit (119)
- Structured credit (43)
- CLO (58)
- Distressed debt (123)
- Leveraged loans (106)
- Marketplace lending (13)
- Real assets (21)
Creditors left with sour taste as two food companies file for bankruptcy6 days ago
Credit investors have been left to digest two US food company bankruptcy filings this week, with dairy producer Dean Foods triggering the first credit event to hit on-the-run series 33 of the CDX HY index, while Houlihan's Restaurants has also sought protection
Investors increasingly see ESG as fiduciary duty, State Street survey reveals7 days ago
North American investors are most likely to view ESG as a fiduciary duty, while European investors are driven by regulation, performance and reputational risk, according to results from a survey conducted by State Street Global Advisors
Deadline just hours away for CDS users to sign Isda protocol13 days ago
Midday New York time is the cut-off for market participants to sign up to the International Swaps & Derivatives Association’s protocol aimed at stamping out narrowly tailored credit events from CDS
ESG integration is part of fiduciary duty, finds UNPRI14 days ago
The United Nations Principles for Responsible Investment (UNPRI) report ‘Fiduciary Duty in the 21st Century’, published late last month, concludes that ESG is a source of investment value, ending debate that using ESG criteria might violate fiduciary duties.
Points up front: Talking his book (which is available on Amazon)14 days ago
For listed asset managers, an earnings call is generally not the right forum to market or advertise upcoming funds. But it might be exactly the right place to try and sell your book.
Rising idiosyncratic risk leads to calls for high yield index tranche fix from traders14 days ago
As sources of funding dry up for the weakest borrowers in the credit market, some correlation traders are calling for an overhaul of CDX NA HY index tranches to make trades on wide-end dispersion more effective.
Corporate credit performance expected to catch up with financial borrowers as European quantitative easing begins14 days ago
The return of European Central Bank quantitative easing on 30 October portends a catch up this month of corporate credit performance with other parts of the market, such as financial borrowers, say strategists.
Over 1,200 sign up to CDS protocol14 days ago
Plans to improve CDS market integrity have received a boost, with the International Swaps & Derivatives Association drawing a stronger than expected response to its protocol aimed at stamping out narrowly tailored credit events (NTCEs).
Fund performance14 days ago
A round-up of fund performance click here.
Credit traders' kickstand: QE and dispersion sever 'haves' from 'have nots'20 days ago
The underperformance of European high yield credit has picked up this week, on rising concerns about dispersion in funding access
Thomas Cook CDS settles with higher than expected recovery21 days ago
CDS referencing Thomas Cook Group settled with a final price of 10.125 cents at yesterday's credit event auction, making the high pay-outs to protection buyers still less profitable for them than had been expected
Thomas Cook CDS auction sets initial midpoint at nine cents22 days ago
An auction to settle CDS referencing Thomas Cook Group has derived an initial market midpoint of 9.125 cents, implying protection buyers will receive a pay-out on contracts in the region of 89 cents
CDS traders get second extension on narrowly tailored credit event protocol24 days ago
The International Swaps & Derivatives Association has extended for a second time the deadline for market participants to adhere to a protocol aimed at stamping out narrowly tailored credit events from the CDS market
Traders face Monday deadline for manufactured credit event protocol27 days ago
Interested parties have until Monday to sign up to a protocol aimed at stamping out narrowly tailored credit events from the CDS market, with the International Swaps & Derivatives Association having given extensions on the original deadline
Thomas Cook CDS buyers face bond squeeze as DC ejects 2023 notes from auction1 month ago
The likelihood of a squeeze on Thomas Cook Group obligations has increased for market participants looking to physically settle their CDS contracts, after the Determinations Committee ruled that the collapsed UK travel firm’s €400 million 3.875% senior notes due 2023 were inadmissible into a credit event auction
Credit traders’ kickstand: UK vote brings profit-taking and corporate catch up1 month ago
Profit-taking has reversed some of the previous outperformance of European financial credits ahead of Saturday’s crunch UK parliament vote on the latest Brexit agreement with the European Union, but UK names continue to trade bullishly as trader concerns about the chances of a no-deal exit on 31 October recede
ESG phenomenon leads to talk of incentive fee models1 month ago
For asset managers that are diving into environmental social and governance (ESG) investment standards, an ugly truth is the lack of any standardised performance fees. But that could change as more investors begin picking and choosing allocations based on ESG rubrics.
Credit traders expose themselves to Brexit bungle1 month ago
Credit investors have set themselves up for disappointment, with UK related names leading another push tighter ahead of the culmination of talks between the UK and European Union aimed at reaching a last-gasp Brexit agreement
Credit CIO Finch leaves GLG1 month ago
Simon Finch has parted ways with Man GLG, according to market sources, ending an 18-month stay at the firm where he served as chief investment officer for credit
Thomas Cook CDS auction set for two deliverables1 month ago
Market participants have until 5pm London time (12pm New York) on Thursday to challenge the supplemental list for an auction to settle CDS referencing Thomas Cook Group, which so far looks like it will have two deliverable obligations
Reality bites after credit traders abandon Brexit hedges1 month ago
Rediscovered faith in the ability of the UK and European Union to reach an agreement before the 31 October Brexit deadline has helped fuel a surge tighter of credit spreads, led by UK financial names. But that break with caution faces an immediate reality check today, following admissions a lot more work is needed
Credit traders' kickstand: curves in focus as market overcomes mid-week wobble1 month ago
Credit markets have had a more positive week overall than last, and that was given a couple of extra twists today by UK/European Union and US/China talks. But this masks weakness mid-week and, following a brief steepening of curves, improvement is mainly exhibited by financial sector names
Anti-CDS tactics enter European bond market as high yield pipeline builds1 month ago
‘Anti-net short’, or ‘anti-CDS’, provisions are set to enter the European corporate bond market for the first time, as Merlin Entertainments and Kantar wrap up roadshows for deals financing their acquisitions by private equity firms
ESG education top priority for 42% of institutional investors, CFA Society finds1 month ago
Global Institutional investors are increasingly adopting ESG into their investment decision making – but education on the topic and quality ESG data are needed to help them progress, according to a survey conducted by CFA Society in New York
Managers have leeway even after triggering key person event, finds Ropes & Gray1 month ago
Almost all credit managers offer protection to investors that key employees will continue to manage the fund’s assets throughout its life, with 95% credit funds containing such "key person clauses". But that does not mean managers have their hands completely tied
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