Points up front: Navigating lockdown easel-y with brush in hand
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

Points up front: Brahms for the brain
We often use this column to highlight charitable initiatives undertaken by members of the CLO community, but charity starts at home and we’d like to point you towards an initiative conducted by Richard Burrell, partner of our own Tanvi Gupta

"Watch the IG credit curve — we may see steepening of IG 5s10s and flattening of 10s30s"
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"
Schroders' Michelle Russell-Dowe takes our credit quiz

People underestimate the impact they can have with ESG
Muzinich's Kirsten Bode takes our credit quiz

A transformational framework means fund managers have to drive real-world change
There are managers who make transformational investments, those who incorporate ESG and those who do nothing

A brighter year ahead
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

CLO guys shouldn't feel quite as self-important as us Welsh... But you are in a pretty amazing spot
CLO portfolio managers should be emboldened by recent events to push for ESG strategies 

Past returns: Highland sells European CLOs at second attempt
In Creditflux 10 years ago, we reported that Highland Capital Management was offloading its European CLOs, with Alcentra and Barings among the frontrunner

It is unfair to extrapolate from one lemon on the lot that the whole fleet of cars is defective
As a barometer of Europcar credit risk before the credit event the CDS contract did a credible job

I'm a nosy neighbour... get CSO deals public and embrace the age of information
A year of staying under the radar has not helped the CSO market

Past returns: Nochu lands in Europe
Five years ago in Creditflux, we reported that Norinchukin Bank had made its first investment in a 2.0 European CLO

The imperfect incorporation of ESG is no excuse not to act
Managers’ legal ESG responsibilities may be vague, but they must still set up a credible strategy

All types of financing will have to incorporate ESG risks and use their real economy influence
Fund managers can no longer ignore, postpone or hide from measures to tackle climate change

Virus-impacted sectors may suffer greater distress in Europe than in the US
Investors may take different paths to capture positive convexity in US and European credit markets in 2021

Speculative protection buying censures managements that seek only to enhance their own wealth
The Catholic church misses the mark when referring to CDS as ‘finance of chance’

Cessation of activity mid-December is an opportunity to switch off… and let the mind wander
Welshcake is grateful for a lull in credit markets. The downtime has inspired him to dream up a CLO play

The structured credit industry could promote its benefits more
Filippo Sampietro takes our credit quiz

I foresee various spooky spectacles hitting our screens - and your long portfolios
Welshcake is settling in for a horror movie marathon. But in the previews he sees monsters lurking behind tight credit spreads

CLO collateral managers who are able to update their documents could gain warf advantage
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
A university lecturer gives Welshcake a shock with a CLO presentation that points to shady trading games

Past returns: Bravo! Citi takes applause with CSO portfolios
Five years ago in Creditflux we reported that Citi was planning a follow up to its Bravo portfolio — a CSO reference entity in which the bank made two-way markets

They said it: "Clearing houses have proposed they will clear index tranches next year"
More liquidity for the index tranche market

Points up front: Quiet! It’s structured credit, they’ll hear you!
Niche sectors of the structured credit market used to be talked about only in hushed tones in deserted corridors.