Investor sends out a b-wic of CLO seniors as secondary supply dries up
CLO traders have been biding their time in the secondary market this week as the dust settles from the frantic activity leading up to the third quarter end

European financials rally on hopes of liquidity support from ECB
Interest rate cut considered unlikely, but still not completely ruled out

Credit spotlight – Hot stuff
With the price of metallurgical coal tripling in a couple of years, coal credits are holding up well in turbulent markets.

Stress testing your cocos
Joao Garcia and Nicola Pede look at how to value cocos and argue that the valuation model should cater for related equities and CDS being stressed by a systemic event

In credit – Indiscriminate selling creates opportunities
Alex Vaskevitch heads the high yield team at London-based BCM & Partners, a $1 billion asset management firm specialising in corporate credit. He manages the Zenith High Yield Bond Fund and, since April, the BCM High Yield Bond Fund. The two funds have the same basic fundamentals-driven strategy.

Dublin manager bought out and looking to expand
A Dublin-based structured credit asset manager is looking to expand after a management buy-out from a German bank

Credit dealers gamble on boost to European high yield liquidity
The credit derivatives market took a leap in the dark last month with the launch of the first credit index based partially on names that have no underlying liquid credit default swap

Sudden death tranche plunges on new bankruptcy woes
Bets on troubled US credits surviving another two months without a default were blown off course by another bolt from the blue yesterday

Shortage of demand leaves CLO index heading south
Secondary CLOs took yet another hit last week as prices for these assets plunged to new 2011 lows

Ireland continues to outperform as SovX drifts wider
SovX names drift wider in early trading 

London-based manager to oversee liquidation of a 2006 CDO
Another CDO liquidation has been scheduled for next month with a London-based manager winning the manadate to oversee the process

Credit market shrugs off Dynegy bankruptcy rumours
Dynegy moves moderately wider on unconfirmed rumours of possible bankruptcy

Investor trades out of CLOs in a weakening secondary market
A $21 million bids-wanted list was in circulation yesterday as an investor sold out of four CLO positions

Moody's gives its first upgrade to a 2011 CLO
Moody's has today upgraded a 2011 CLO due to the rating agency's revised methodology for rating CLOs

Citi prices a $350 million CLO as spreads widen out
Citi has priced a $352.3 million CLO which has been down-sized from original estimations.

Deutsche Bank moves closer to pricing a mid-market CLO
Deutsche Bank is close to completing its first US CLO of the year, according to market sources. The $315 million CLO could price by the end of the month

CFTC suggests longer timeframe for CDS clearing switch
The Commodity Futures Trading Commission has proposed new regulations that would give some market participants more time to move derivative trading, including credit default swaps, to electronic executions platforms