Canadian pension fund opens US office for push into global credit
One of Canada's largest pension funds has opened an office in New York from which it will focus on credit investments

Hedge against Greece in the options market, says SocGen research
Societe Generale research suggests shifting into US credit, but using options to hedge against weakness 

Expect to see longer CLO non-call periods in 2015, says Barclays
Research published last week by Barclays states that the value of near-term call options for new deals is limited, and that managers can reduce funding costs by issuing CLOs with longer call locks

Lloyds cocos fall ahead of Bank of England announcement
The results of the Bank of England's UK bank stess tests could strip Lloyds Bank's cocos of their regulatory capital status, note BNP Paribas analysts

Credit market snapshot: last week tighter - this week wider
Credit spreads widened across the board yesterday, a move driven by rising interest rates which also sent equities falling

Credit market snapshot: Europe continues to outperform US
European credit spreads continued to outperform their US counterparts yesterday

Credit market snapshot: sub fins hit new record amid coco splurge
European and North American spreads took different paths yesterday

Barclays cocos are the most overvalued, finds SocGen model
Regulatory capital bonds issued by Barclays are the most overvalued contingent capital securities, according to a  Societe General quantitative model, while those of Deutsche Bank are the most undervalued.  

McClatchy sells website stake to repurchase bonds at par
Sacramento-based publisher to repurchase bonds after website sale

Credit market snapshot: markets shrug off Argentine default
More of the same for credit indices as Argentina defaults, with crossover and financials the only performers

Credit market snapshot: treasuries drive modest moves
Emerging markets is the biggest mover on day that saw very little movement in the credit market

SocGen backs coco 'death spiral' trade
Investors should consider buying put options on the equties of banks issuing alternative tier 1 bonds (AT1), a play that could lead to a so-called 'death spiral'.

Credit market snapshot: Europe tightens as market banks on rate cut
European spreads push tighter ahead of a central bank meeting which could push a rate cut

Credit market snapshot: subordinated financials perform as Europe slows
US high yield and European subordinated financials continue to tighten as market eases

Staple’s hard work is undone with poor profits
US office supplier's spreads jump wider as profits tumble  

TPG raises $162 million for closed-end credit fund
Private equity firm TGP announced late yesterday that it has priced the IPO for its business development company TPG Specialty Lending