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"The lack of standardised ESG data creates opportunities for data-driven investors"
3 years ago
Investors can gain an edge by using technology to help parse ESG data -
CLOs seem like Premier League members in the world of finance
3 years ago
The CLO industry is in a privileged position and can wield its power to do good -
"Three CLOs issued in 2021 have included triple C baskets of 20%"
3 years ago
Big triple C buckets helped mid market CLO issuers in 2020 and the trend is for even bigger allowances this year -
Points up front: Navigating lockdown easel-y with brush in hand
3 years ago
The various periods of lockdown over the past 12 months have provided time for credit professionals to tap into their creative side, and Schroders’ head of securitised credit Michelle Russell-Dowe has taken full advantage -
"CLO managers who struck the right balance in 2020 are more easily able to reset their deals"
3 years ago
CLO managers were re-evaluated during the pandemic, and outperformers can expect to see benefits this year -
"Watch the IG credit curve — we may see steepening of IG 5s10s and flattening of 10s30s"
3 years ago
Stimulus measures are supporting short tenors, and pension demand for 30-year paper is strong, so 10-year IG credit may have few buyers -
"We have to think about the influence of social media like Reddit"
3 years ago
Schroders' Michelle Russell-Dowe takes our credit quiz -
CLO naysayers have made arb and cov-lite into dirty words — that should now change
3 years ago
Recent performance has shown that cov-lite loans and challenging arb don’t spell doom for CLOs -
A brighter year ahead
3 years ago
Panellists on Creditflux’s CLO webinar described how CLO spreads are close to historic tights, ESG is entering the docs and managers have more flexibility with work-outs than ever before -
A year that looked like it would be a total wipe-out ended up being very constructive indeed
3 years ago
Our columnist looks back at some of the surprises of 2020 -
I'm a nosy neighbour... get CSO deals public and embrace the age of information
3 years ago
A year of staying under the radar has not helped the CSO market -
All types of financing will have to incorporate ESG risks and use their real economy influence
3 years ago
Fund managers can no longer ignore, postpone or hide from measures to tackle climate change -
Perhaps 2021 will be the first year of the next expansion
3 years ago
For 2021, our columnist is focused on Libor transitions, CLO flexibility and loan managers fighting among themselves -
The right climate doesn’t guarantee a great bottle of wine. The skill of the winemaker is also vital
3 years ago
2020 could still turn out to be the best private credit vintage ever -
CLO collateral managers who are able to update their documents could gain warf advantage
3 years ago
Moody’s is reviewing its approach to warf. Changes could boost managers’ ability to trade -
Questions will need answering about where a manager's fiduciary responsibility lies
3 years ago
A university lecturer gives Welshcake a shock with a CLO presentation that points to shady trading games -
They should have followed Revlon's Double Twist mascara slogan of 2009: "It's worth a double take"
3 years ago
Blockchain might not eradicate all problems in credit, but it should reduce human error -
The surge in index tranche trading has resulted in a deep, liquid and nuanced set of market dynamics
3 years ago
Welshcake emerges from his bunker to find CLOs still standing and the CSO market getting back to business -
Around 20% of the US CLO market has traded this year — not bad for an asset class that is seen as illiquid
3 years ago
CLOs can trade cheaply and directly, which helps keep volumes steady even in a crisis -
If you’re not finding black talent, you’re not trying hard enough
3 years ago
In the past few weeks, it has been easy to put up our billboards and tweet our condemnation of the treatment of black people. Now we need to change the way companies work -
Investors take comfort from an active secondary market, but liquidity can be a mixed blessing
3 years ago
One of the most interesting characteristics of credit behaviour during the coronavirus era has been the momentum of junk bonds, with sharp changes in issuer and investor confidence around the asset class driven by technical factors: near-zero interest rates, the Fed’s support of fallen angels and skewed-to-worse ratings for leveraged loans -
There will surely be jewels in the high yield dung heap, but the risk-reward is more compelling in IG
4 years ago
Whatever the long-term effects of the pandemic, one thing stays the same: IG looks attractive -
Points up front: We knew it, Jon Snow
4 years ago
When Tripp Smith, the co-founder of GSO Capital Partners, launched asset manager Iron Park Capital Partners a year ago we guessed he might like TV series Game of Thrones -
A lot of CLO portfolios look similar and I’ve never been one to follow the herd
4 years ago
Zais's Vinnie Ingato takes our credit quiz -
Where are the gloating I-told-you-so columnists who claimed CLOs would bring global destruction?
4 years ago
We have seen a measured response to the coronavirus crisis: fund managers aren’t collapsing and investors are not shunning CLOs
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