European defaults set to overtake US
Default rates are likely to continue declining into 2011, according to projections

Soaring mezzanine demand paves way for more leveraged CLOs
Soaring demand for mezzanine securities will result in CLOs being structured with smaller equity tranches in 2011

CDX HY constituent gaps tighter on talk of orphaned CDS
Credit default swaps of CDX HY index constituent Intelsat gapped in massively yesterday on speculation the entity could become orphaned

Genesis CLO package delivers as holder's reserve is met
It has been a bumper week for secondary CLO trading

Sequel to Tricadia CDO liquidation draws in high bids
The second and final part of Tricadia 2005-03’s liquidation occupied another busy day of secondary CDO market trading yesterday

CDO liquidation prompts heavy trading activity
It was a busy day in the secondary CLO market with over $150 million in CLOs up for grabs and buyers did not disappoint with 45 out of a possible 46 trades going through

US manager launches new CLO with highest leverage post-crisis
An investment bank that has been active in pricing CLOs over the last few weeks is set to hit the market with its fourth CLO in quick succession

Two-part liquidation set to unleash $220 million
A 2005 CDO is set to liquidate over the next couple of days

Secondary CLO market sees soaring bids in afternoon flurry
A whole host of original double B rated CLO paper was on the market yesterday

Blackstone CLO prices with equity slice snapped up by outsiders
Bank of America has closed its second CLO in quick succession

Turbo b-wic charges at high levels
A short three item bid wanted list made up of original double Bs wound up on the secondary CLO market. But these were no ordinary double Bs

Secondary trading shows huge range of CLO equity bids
Results from a b-wic yesterday displayed the two sides of CLO equity for all to see

Sovereigns and financials start week wider after large rally
Having briefly dipped inside Ukraine on last week’s rally, Ireland’s credit default swap is once again trading outside the latter’s on an 18bp widening today to 566bp

Super senior tranches widen against rally on CDO wind-down fears
The tranche market has moved significantly this week with CDX IG 15-100% senior tranches significantly underperforming the junior tranche rally

CLO equity prices continue to rise
As eight b-wics flooded the secondary CLO market yesterday, the stand out trades again encompassed US CLO equity

CLO investors bid up Greyrock CDO junior tranche
Two very different original double B notes made their way onto a bid list yesterday morning (see Creditflux B-wic Tracker 1 December 10am) and cover bids reflected the disparity in the bonds

Energy dominates corporate debt issuance in 2010
The rate of global bond and loan issuance has eased somewhat over the past couple of months from the spike seen in September

Bonus pool cuts tempt credit staff to quit top banks
Second tier banks see a prime opportunity to lure top credit talent away from major banks in coming weeks

Portugal auction fuels spring-back European rally
A stronger than expected auction of 12 month Portuguese bonds today has helped tip momentum back in favour of a sharp return rally of European sovereign debt

Newest CLO set for tightest spreads this year, says S&P
Bank of America is set to price a $480.4 million CLO to be managed by PineBridge Investments in the next few days with the tightest spreads this year