Structured credit funds put in strong performance
Most categories of credit hedge funds put in a positive performance in August, but there were few of the spectacular rises in net asset value seen in previous months.

Portugal yields hit new highs following debt auction
With all European credit trading focus on Portugal today, the country has followed Ireland's successful government debt auction by selling €750 million of its own notes

Go long pharmaceutical and short chemical names, says bank
BNP Paribas’ trading desk has put forward a trade recommendation to go short three credit default swap names in the chemicals sector while going long three pharmaceuticals

Sovereigns lead relief rally after bond auctions
European sovereign credits are seeing sizeable relief rallies today following the completion of the much-watched government debt auctions of Ireland, Spain and Greece

Credit spreads maintain rally into weekend
Credit spreads have continued to rally today, with much awaited US non-farm payroll data keeping a check on initial trading volumes but showing an improvement on expectations when they came in

Hedge fund tranche buyer moves high yield
Revealed: the mystery buyer behind the disproportionately strong recent performance of CDX HY and LCDX mezzanine tranches

Investor snubs Carlyle with separate account switch
An investor switches the manager for its unlevered loan account

Second-liens face near wipe-out in power default
LCDX dealers have voted to hold an auction to settle loan-only credit default swaps referencing a US power generator

Fund marks up European CLO investments by 13% in July
A CLO investment fund put in a 2.8% monthly return in July, taking its NAV to its highest level since late 2008

Thin volumes hit credit hedge funds in June
Out of the 46 credit hedge funds in our monthly performance list, 25 put in a negative performance in June

Unicredit looks to staff up in growth area of credit trading
Unicredit is looking to expand a new credit valuation adjustment (CVA) trading desk it set up recently

UK bank confirms senior leveraged sales hire
A bank has confirmed the appointment of a director for leveraged credit sales

A rough guide to Dodd Frank: the devil’s in the detail
A summary of the proposed US financial reform bill’s impact on credit

Sovereign and financial volatility heats up as funding concerns mount
The European credit market has seen a rise in volatility today, with spreads surging wider from the outset

Sovereigns and financials outperform following bond auctions
Today has seen a significant rebalancing of sovereign and financial credit default swap spreads, following strong demand for Italian and Spanish government debt auctions

Why boring old BDCs are the new CLOs
A low-levered, 30-year old loan investment structure is fast becoming one of the hottest topics in credit Mike Peterson

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