- Direct lending (36)
- Emerging markets (31)
- High yield bonds (206)
- Investment grade credit (110)
- Structured credit (111)
- CLO (89)
- Distressed debt (86)
- Leveraged loans (97)
- Marketplace lending (14)
- Real assets (24)
Apollo CLO and CSO specialists earn promotion to partner2 days ago
Apollo Global Management has promoted two members of its global structured credit team, according to market sources
Stockholm-based firm targets CLOs, CSOs and SRTs for new fund after stellar 20194 days ago
A fund manager, established in 2018, is said to be launching its second corporate structured credit fund, sources say, after generating 20% returns last year via its debut strategy. The new fund will invest across CLOs, CSOs, SRTs and index tranches
Credit traders' kickstand: convergence trades rewarded as financials outperform7 days ago
Compression is the watchword in credit at the start of the year, with the market’s navigation of post-crisis tight prints bringing an outperformance of financial names over corporate borrowers and US over European indices
This is not just wider: M&S stands apart as CDS picks new tights8 days ago
As credit spreads head back into post-crisis record tight territory amid a softening of tone between the US and Iran, retailer Marks & Spencer is bucking the rally having issued a profit warning today
Oil supply concerns grease CDS relative value trade10 days ago
With credit spreads having begun 2020 circling post-crisis tight prints, there is not much room across the market for improvement and plenty of susceptibility to jitters. But at least one CDS index shows scope to narrow further and could form part of a relative value trade
Rude awakening for credit as US airstrike sends global shockwaves14 days ago
It only took a day for the positive mood greeting financial markets in 2020 to turn nervous, with credit and equities faltering in early trading today after the US killed a top Iranian military official
Credit traders enter 2020 a world away from 2019's opening blues15 days ago
CDS markets are showing what a difference a year makes, with indices beginning 2020 at post-crisis record or near record tights. And concerns such as Brexit or US-China (and lately UK-China) tensions are doing little to dampen the mood in today's buoyant trading session
Texas pension appoints CIO1 month ago
Teacher Retirement System of Texas has appointed a new chief investment officer, effective from January 2020
CSO arrangers look to build on $65bn of issuance in 20191 month ago
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.
Private debt secondaries expected to soar in 20201 month ago
Private debt secondaries grew massively in 2019 — and more is expected this year.
Falling correlation reignites passion for index tranche trades1 month ago
Dispersion in the global corporate credit market is rekindling interest in correlation trading, with dealer sources reporting that a late surge lifted 2019 index tranche volumes to $250 billion.
Farewell Mike1 month ago
After two decades, Mike Peterson, the founder and long-time editor of Creditflux, is moving on.
Activists sign up to narrowly tailored event protocol1 month ago
The International Swaps & Derivatives Association has signed up 1,298 parties, including nine reference dealers, to a protocol aimed at preventing narrowly tailored credit events (NTCEs).
Points up front: There are lies, damn lies and awards pitches1 month ago
We’re hearing empty boasts, trash talking of their rivals and no shortage of promises that will absolutely be delivered.
Deep dive trade is on, but single name risks still abound1 month ago
High yield CDS is reversing its previous underperformance versus investment grade, reflecting an investor shift down the quality spectrum in cash bonds.
Fund performance: Long-short funds rule in October as CLO funds struggle1 month ago
A round-up of fund performance
- A round-up of CLO performance1 month ago
Welshcake: Don’t get too comfortable. The truth is there are hundreds of things that could be catalysts for a sell-off1 month ago
Just because there’s no obvious sign of a sell-off, doesn’t mean it’s not going to happen. Often, market moves defy logic
Deans Foods auction delivers big lunch for CDS protection buyers1 month ago
Dean Foods CDS has been settled in a credit event auction at a final price of just 9.25 cents – half the 18 cents indicated by the Dallas-headquartered company’s bonds at the time the auction was called
No 2020 recession, cyclical bonds will outperform and CLOs won't crash, says BNP Paribas1 month ago
There will not be a recession in 2020 and investors should stay long credit with the expectation that high yield cyclical and non-financial borrowers will outperform in a bullish market, BNP Paribas strategists have confidently predicted
Dean Foods CDS to have one deliverable, with 80 cent pay-out indicated1 month ago
There will be only one bond deliverable into an auction to settle CDS referencing Dean Foods, the Americas Determinations Committee has confirmed
Dean Foods CDS set to have only one deliverable on the menu1 month ago
Only one bond has made it onto the supplemental list of deliverable obligations for an auction to settle CDS referencing Dean Foods
Non-dealers overtake banks as biggest holders of diminishing CDS pie1 month ago
The share of the CDS market held by non-dealer financial institutions has surpassed that of dealers for the first time, according to latest Bank for International Settlements data. But firms are scrapping over a smaller pie, as outstanding single name CDS continues to fall
US pension backs insurance credit fund1 month ago
Montana Board of Investments has committed $40 million to an insurance credit fund opportunity fund managed by Vida Capital Management, according to a document seen by Creditflux.
Creditors left with sour taste as two food companies file for bankruptcy2 months 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
Want all the latest news, comment, analysis and data?