Euro turmoil drives tranche trading
European credit index tranches were noticeably more volatile than their US counterparts today

Seven straight no-trades hints at wobbly secondary CLO market
Not a single bond traded from a bid list of seven mezzanine CLO positions yesterday, with some sources blaming the lack of trades on high reserve prices set by the seller

CLO buyers turn to repo to juice up returns
Asset managers, hedge funds and private equity companies are finding investment banks more willing to provide leverage for CLO investments using repo financing of late

Citi’s new CLO inches forward as investors push for better pricing
Citi has floated a pricing date of mid-May for its planned CLO to be managed by Apollo Capital Management,

Greece? Who was worried about Greece? Spreads move tighter again
Credit spreads seems to be staying tighter today, as traders in many countries look forward to a long weekend

Listed credit fund puts in strong monthly performance
A structured credit investment vehicle put in a 6% rise in net asset value in March, after marking up assets across its portfolio

Seller aims to shift large block of senior mezz CLOs
A seller is looking for prices at the top of the recent range on a large CLO bid list due at the end of next week

Private equity firm buys CLO equity investor
A private equity and distressed debt manager is buying a minority stake in a business development company and taking over as its manager

Harrah's raises $750 million in secured bonds
Casino operator Harrah’s Operating yesterday raised $750 million via the issuance of 8-year senior secured second-lien notes with a 12.75% coupon.

Private sales dominate CLO equity trading
Equity remains the flavour of the month in the secondary CLO market

Traders look to auctions for direction on Greece
Traders are closely watching planned Greek short-term bond auctions today, to judge whether or not the spectacular rally of the last two trading days can continue

Sovereign panic hits European financial spreads
Greece problems are again holding the attention of the credit market today

Bank desk recommends Lafarge step-up bond trades
BNP Paribas trading analysts have made two trade recommendations based on their view of a 50% likelihood that Lafarge is downgraded to BB+ by either Moody’s or S&P following Q1 results

Spotlight on airlines - Waiting for take off
The recession has seen 30 airlines go bust. Now the survivors are hoping that a predicted growth in passenger numbers will lift them back into profitability

Assenagon: the basis hunter
Negative basis used to be an easy trade. But now Munich-based credit manager Assenagon must hunt high and low for these elusive opportunities.