Helicopter money is more productive than sponsoring the next bout of company share buybacks
The ECB is set to recommence its asset purchase programme, but what’s wrong with putting money directly into the hands of people?

Credit traders’ kickstand: it’s a tough time to go short
Credit derivative indices are ending the week back at very tight levels, with a re-convergence of spreads, with little appetite to bet against presumed central bank dovishness or the upcoming CDS rolls in September

UK pension pool launches multi-asset credit search
Border to Coast, a £46 billion ($56.8 billion) partnership between 12 UK pension plans, is seeking for a core multi asset credit manager, for its recently opened multi asset credit fund  

Flat curves and decompression make waves below the surface
Hopes of using the summer slowdown to get to the beach may be tempered for credit relative value traders, where opportunities abound behind the uninspiring benchmark numbers of the slow market grind.

BlueMountain lands senior credit trader in New York
BlueMountain has hired an experienced trader in New York to cover credit and special situations

Kayne Anderson targets direct lending and liquid credit mix for new fund
Kayne Anderson is looking to launch a closed-ended fund focused on direct lending, liquid credit and energy and infrastructure equity investments

GSO adds $10 billion to inflows with direct lending, structured credit and energy
Blackstone grew its credit assets under management to $139.3 billion, up 13% on a year ago, according to the firm's second quarter earnings release

Calpers misses returns target despite fixed income outperformance
California Public Employees' Retirement System (Calpers) has missed its annual investment target despite strong performance from its fixed income portfolio, which was its top performer  

Ontario pension selects new president and CEO

Ontario Teachers’ Pension Plan has appointed Jo Taylor as its new president and chief executive officer, effective 1 January  

Credit traders' kickstand: European financials outperform as Trump-Xi meeting looms
Credit markets are finely poised going into the weekend, when US president Donald Trump’s crunch G20 meeting with Chinese president Xi Jinping likely could set the direction of trade from Monday

Rallye CDS auction price drops to 12.5 cents on unmatched sell requests
Rallye's credit event auction to settle CDS contracts produced a final price of 12.5 cents today, lower than the initial price set in the first round this morning of 14.975

US and European basis trades in play as bonds lag CDS rally
A recent outperformance of CDS indices versus cash bonds has opened up basis trade opportunities on both sides of the Atlantic, say credit strategists

Credit traders' kickstand: nervous equilibrium gives way to weakness as earnings and tariffs weigh
Healthy fund inflows, European and US holidays, and a thinning primary market helped sustain credit spreads this week, but a weaker turn today shows this is a fragile equilibrium and company earnings misses are starting to be punished more severely

Diameter becomes first firm to jump into CBOs without taking a step in CLOs
Diameter Capital Partners has joined the small group of firms who manage CBOs, it has emerged

Border to Coast pension seeks exposure to UK investment grade credit
Border to Coast Pensions Partnership is set to begin a manager selection process, seeking UK investment grade credit and global multi-asset credit funds  

Credit traders' kickstand: grave times for UK banks and corps as May goes away
UK banks have been among the main underperformers in credit this week, with market sources noting that today’s notice of Prime Minister Theresa May’s intention to resign on 7 June increases the likelihood of a no-deal Brexit. And UK 'zombie' companies appear to be forming a herd

Deutsche Bank rehires Nordic sales head after senior official moves to buy side
The bank is bringing in a Barclays official to replace him, in a slightly more broader role, say market sources

Credit traders' kickstand: widening catalysts gather force with focus on financials
Credit markets are once again ending the week on a negative tone, having regained some posture over previous sessions following last week’s tariff-driven sell-off. Credit index spreads appear inclined to trade within a range, but potential catalysts for that range to shift wider outweigh any obvious reasons to return to the tight prints of last month

New investments drive Canada Pension Plan’s credit returns to 8.7%
Canada Pension Plan Investment Board (CPPIB)’s credit portfolio has delivered good returns during the 2019 fiscal year, despite the market volatility, according to the institution’s annual financial report  

DC accepts New Look failure-to-pay credit event question
The Europe, Middle East and Africa Determinations Committee has accepted a request to rule on whether New Look has triggered a failure-to-pay credit event

Louisiana pension allocates $150 million to US credit funds
The Teachers' Retirement System of Louisiana has committed to Torchlight Debt Opportunity Fund VI and Summit Partners Credit III, a spokesperson for the pension fund has confirmed  

I still love to sit in front of computer screens to try and understand markets
Jochen Felsenheimer of Xaia Investment takes our credit quiz

Tribeca launches Asian credit fund with new hire
The Australian manager has recieved $50 million from a family office

16% of insurers plan CLO allocation increase, survey finds
Goldman Sachs Asset Management has released its annual insurance asset management survey

Dealers line up to settle Windstream CDS today
Dealers will today hold a credit event auction to settle CDS referencing Windstream Services, with Morgan Stanley added to the list of participating bidders