ETF doubles in size as investors target emerging market credit
Last week saw a big increase in AUM for exchange-traded funds that invest in emerging market credit

US high yield fall puts credit ETF growth into reverse
Last week saw a modest net outflow from credit ETFs after several weeks of net inflows

Flow of funds into credit ETFs slows, with decline in high yield
Capital inflows into credit ETFs slowed last week, with these funds seeing inflows of 0.4% across all categories compared to the 1.1% increase recorded the previous week

In credit - Prepare for a new default spike next year
Serhan Secmen, a managing director and structured credit portfolio manager at Citi Capital Advisors, gives his views on the credit market

New York hedge fund manager raises $112 million for credit fund
A New York-based manager has raised $112 million for a new fund, which may be targeting senior trups CDOs

CFlux indices stabilise as CLO investor sends out $112.5 million bid list
The run-up in secondary US CLO prices led to one investor posting a $112.5 million CLO b-wic which concuded on Friday

Greece CDS gaps in 400bp on new eurozone debt agreement
European credit is surging tighter today after markets digested the new eurozone proposals to address the debt crisis

Sharp widening continues as US economic worries take focus
The muted relief yesterday that greeted Greece’s vote of confidence quickly gave way to another round of selling and today increasing worries about the US economy are adding to the negative ton

Spreads return wider amid Greece austerity agreement doubts
Credit spreads are wider again at the outset of the week

Chemicals merger drives European high yield trading
European high yield focus today is on the announcement by Belgian chemicals firm Solvay that is to acquire French rival Rhodia

Sovereigns and financials lead as market rallies back
European sovereigns. iTraxx SovX is around 6.25bp tighter from yesterday’s close at 215.5bp, according to Markit

Go long Europe non-financials versus short CDX IG, says bank
BNP Paribas’ trading desk today recommends going long iTraxx Europe non-financials versus short CDX IG.

Wind basis play attractive amid M&A talk, says trading desk
BNP Paribas’ trading desk has put forward a relative value recommendation on Wind Telecommunicazioni bonds

Financials active as US housing expectations weigh on spreads
Credit spreads are heading wider today, with European investment grade underperforming

Index curves and roll trading heat up
Curves and credit index series arbitrage trading are strongly in focus as spreads continue to rally back, say traders in London and New York

Frankfurt advisory firm pushes into credit
A Frankfurt-based asset management and advisory firm has recently hired a bank’s former head of structured credit investment as it looks to expand its business into structured credit

Traders look to pairs trades as week ends at the wides
Credit markets are closing the week with significant further widening of credit spreads

Large blocks of CDOs hit the market as high-grade CDO liquidates
Highland Capital Management’s Tierra Alta Funding, a $2.5 billion high grade ABS CDO will be liquidated this week with bids for the transaction’s CDO bucket due today