German real estate firm gains relief as credit spreads see-saw
Adler is among the biggest improvers in credit markets on Wednesday, as the week's heightened volatility brings another big shift tighter for indices

US extends broad hit on credit but German resi giant faces personal dramas
Travel related companies are among those hit hardest in credit as the Tuesday sell off deepens with the US trading session, but investors in German real estate company Adler have endured a torrid day as they digest its third quarter results

Traders hunt for Monday bargains in Black Friday debris
The turmoil of Black Friday has given way to a counter-wise move on Monday, with financial markets latching onto scraps of hope over the weekend following the panic of a newly discovered covid-19 variant

US travel, energy and retail credits take big hit as variant rout extends
The widening trend in credit is extending as the weekend approaches, with US spreads picking up the baton from Europe's earlier surge

Nu variant panic sends credit spreads to the year's wides
The discovery of a new covid-19 variant has routed financial markets at the end of what had already been a dour week, sending credit spreads to their widest of the year

Dispersion returns at wide end as credit deterioration extends
Credit spreads are back to their widest since mid-October - and approaching the year's extremes - amid a second straight session of sharp deterioration

Telco and retailer gap wider as PE firms circle
Telecom Italia is one of the Monday credit market's biggest underperformers, in an otherwise finely poised start to the week

Slow and sustainable trades will win race in '22: BofA
A year on from the US presidential election and unveiling of covid-19 vaccines, the credit compression looks challenged. But 'laggards' and sectors with strong capex growth still hold promise

Earnings season and lifted hedges return credit to best levels in more than month
What began as a cautious, risk-averse week for the credit market is ending with a distinctly more bullish tone, with a fourth successive day of improvement taking spreads to their tightest levels for over a month

Eagle Point hits $300 million hard cap on BDC-lending fund
Eagle Point Credit Management says it has held a $300 million final close on its Defensive Income Fund, hitting its hard cap and exceeding its original $250 million target

Brookfield hires industry veteran as public securities CIO
Brookfield Asset Management has hired a long-serving credit and equity market professional as chief investment officer for its public securities group

Debt investors agree to nine-month call lock in Anchorage CBO refi
Anchorage Capital Group refinanced the mezzanine debt of its 2019 bond-heavy CLO named Anchorage Credit Funding 9 on Friday

CLO refi and reset volumes surge with $2.3 billion priced on Friday
CLO refi and reset volumes surged on Friday with $2.3 billion priced across the US market, according to market sources. Brigade Capital Management, MidOcean Credit Partners and New Mountain Capital reset regular-way CLOs, Blackstone Credit scored a regular CLO refi, Sculptor Capital Management refinanced a bond-heavy CLO, and Ivy Hill Asset Management reset a middle market CLO

Everyone’s ramping

German convergence as travel co surges inside troubled real estate firm
Amid rocky markets there has been a tale of two diverging credits in the European high yield market on Wednesday, with two of the riskiest names passing each other on sharp convergent moves

Real estate panic brings turbulent changeover for credit indices
New credit derivative index series have emerged at much wider levels, after a turbulent market rout made roll day more challenging for participants

Single names take spotlight from indices with one week to roll day
Single name credits are taking a day in the spotlight for once, as the credit indices present a very flat backdrop at the start of the week

Rising star portfolio has room to run, says JP Morgan
The theme of 'rising stars' still has room to run and investors should consider a basket of candidates to benefit in the coming months, according to JP Morgan credit strategists

Rising stars vie with swooping hawks as Fed deliberates
Rising star companies moving from high yield to investment grade could be a valuable source of returns for credit investors in coming months, say sources

Intriva adds to asset management build up with senior hire
Intriva Capital, a mid-market lender and alternative investment firm, has hired a senior asset manager from HIG Capital

Credit Fundraising: Blue Owl and WhiteHorse gain from improving animal spirits
Fundraising perked up in July as managers raised $14.9 billion for credit funds - the third highest monthly amount this year

Ucits at a glance: mid market fund leaps into top four
The majority of Ucits funds end Q2 on a high note as 76% of those in our database recorded positive performance in June

Capital Four adds three to new US CLO/high yield team
Capital Four has fleshed out its new US credit platform with three hires and another four on the way

Fund performance: Déjà vu as April leaders dominate
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns

It's all relative: CDX HY touches record tights but junior US CLO tranches leak wider
Credit spreads are marching tighter, but someone forgot to tell the CLO market. European and US CDS spreads have moved in step with each other for the most part with investment grade and high yield tightening 4-6% in the last week, whereas CLOs have been losing ground