First Abu Dhabi Bank pushes into credit derivatives with trading head hire
First Abu Dhabi Bank (FAB) is making a foray into credit derivatives and has hired an experienced credit trader to lead the initiative

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

Highbridge refocuses on credit as it liquidates listed multi-strategy fund
Highbridge Capital Management has announced to investors in a multi-strategy fund that it is winding down the vehicle and refocusing its business exclusively towards credit

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

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

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

New manager Resco lands ex-credit head to found advisory board
Resco Asset Management, a London based asset manager set up last year, has appointed the first of an anticipated three advisory board members

Illiquid credit boost returns for PensionDanmark
PensionDanmark has generated 5.8% returns from its illiquid credit portfolio for the year 2018, according to its latest annual report published today. But its liquid credit portfolio took a 3.4% hit

Credit spread improvement is calm before the storm, warn strategists
European and US credit markets have begun 2019 with a more buoyant tone than they ended 2018, but strategists warn that bearish factors still outweigh and suggest the overall direction of spreads this year is likely to be wider

Robeco looks to align macro fixed income with credit as it makes senior hire
Robeco has hired Jamie Stuttard as co-head of the global fixed income macro team and fixed income strategist  

Muzinich poaches Neuberger Berman MD for top fund distribution role
Muzinich has hired a global head of distribution, according to an announcement today, picking up the role previously held by Joshua Hughes, who left for CIFC Asset Management in May

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Ex-Citi CDO trading chief joins Jefferies as head of European fixed income
Jefferies has appointed a former Citi European credit and pre-crisis CDO trading head to lead its European fixed income business

Axiom puts tranches at core of push into synthetic credit
Axiom Alternative Investments is set to target both index and bespoke tranches with the launch of Axiom Synthetic Credit Opportunity Fund.

Portfolio managers continue to be pessimistic on credit outlook, survey finds
A survey by the International Association of Credit Portfolio Managers states that 56% respondents believe average corporate default rates will increase over the next 12 months 

Trailblazing ethical investment fund from Rathbones passes £1 billion
Well before ESG (environmental, social and governance) investing became a buzzword, a Rathbones-managed fund was investing in ethical companies. Now that vehicle – Rathbone Ethical Bond fund – has passed £1.03 billion

Going short IG against the ECB will eventually pay off
Chenavari’s Demian Brasil takes our credit quiz

Schroders debuts its first UK infrastructure debt fund
Schroders has announced the launch of its UK Infrastructure Debt fund, which will target investment from UK pension funds and insurance companies

Leading fund: Lupus Alpha CLO Opportunity Notes I
Single-B CLO trades boost Lupus Alpha asset Management

Investment grade specialists exit Citi’s London offices
Senior investment grade analysts follow sales head out of Citi in London