US CLO spreads to widen as uncertainty and tariffs bite – JPMorgan
Higher US tariff levels may lead to CLO spreads widening and pressure US CLO market growth, but new origination has been more resilient than expected, according to JPMorgan analysts in their mid-year CLO outlook report

Credit markets have become more stable and behave differently – KKR’s Eddie O’Neill
PODCAST: The co-head of global liquid credit at KKR sees opportunities and reasons for optimism after the recent market upheaval, especially in Europe and Asia in the latest "Credit Exchange with Lisa Lee" podcast

Managers predict opportunities after Trump storm
Global financial markets in April went on one of the wildest rides in history over the past few weeks. But while markets have now calmed, caution remains

‘CLO spreads widened alongside all other spread markets’
Investor's Corner with Edwin Wilches, Co-head of PGIM Fixed Income’s securitised products

Tariffs will push up default rates for several years, say agencies and managers
After an uptick in leveraged loan defaults culled weaker credits in 2024, many expected default rates to fall in 2025. But the uncertainty stemming from the Trump administration’s tariffs means those assumptions are now under threat

News in brief
Blackstone plays offense amid volatility

Tariffs kill off year-long CLO boom
The global impact on CLOs of President Trump’s tariffs was plain as volatility increased and spreads blew out. But managers helped keep US issuance steady with print-and-sprint deals

CLOs that refinanced in 2024 are set to take advantage of market turbulence
There are opportunities for CLOs to build par through discounted purchases

Credit hedge funds – March 2025
Credit hedge fund performance

CLOs at a glance – April 2025
Our list of recent CLO pricings globally

Creditflux Symposium 2025 opens at Nobu Hotel in Portman Square, London
17th Creditflux Symposium starts today, 14 May, with sessions on structured finance and ABS

Clearlake launches Clearlake Credit to chase private and public credit investments
The new platform will integrate the newly acquired MV Credit and WhiteStar Asset Management

Sidley poaches nine US finance lawyers from A&O Shearman including bulk of CLO expertise
The moves leave A&O Shearman with a significantly diminished slate of CLO prowess 

CLO market turns to print-and-sprint deals as volatility spikes
EXCLUSIVE: Napier Park, TP Birch Grove, and BlackRock attempt print-and-sprint deals as the maths gets tougher; AGL and Blackstone pull off deals

Siepe hires two from US Bank to boost CLO, private credit tools
The software and technology service provider for CLO and private credit managers is expanding its team

US CLO managers and investors turn away from Europe after risk retention changes
EXCLUSIVE: The reassessment is the latest consequence of the new European Supervisory Authorities’ revised guidance on risk retention

News in brief
CLO ETF outflows are ‘manageable’

SRTs are pricier but more effective
In the second of our two-part look at regulatory arbitrage, we investigate how SRTs improve upon the synthetic collateralised loan obligations that were popular before the financial crisis

Long-term CLO investments require strong distributions, healthy equity NAVs, and an extended life

Large managers have many advantages. But they don’t hold all the cards

CLO Symposium 2025
The Creditflux CLO Symposium will be held at the Nobu Hotel, London on 14-15 May 2025

Funds at a glance – March 2025
Leading fund – Lupus Alpha CLO Opportunity Notes I

Credit hedge funds – April 2025