High yield compression has one last push after real yields turn negative, says BofA
With real yields for European high yield bonds having turned negative, Bank of America credit strategists see "one last hurrah" for spread compression trades

"The CLO industry can be a little clubby… it feels like there are few advocates"
Pension Danmark's David Altenhofen taks our credit quiz 

"There are concerns about volatile sectors in high yield, but IG may be vulnerable to macro changes"
High yield has heavier exposure to energy and travel credits, but IG has more rate duration

Investors take deep breath ahead of US jobs report
Credit and equity markets are taking a cautious pause ahead of Friday's much-watched US jobs data, which could provide new context for discussions on central bank support for assets in the coming weeks

Déjà vu as CLO strategies again top hedge fund tables
Seven out of the top 10 funds in our hedge fund tables belong to the CLO category as the asset class outperformed again in July

Points up front: Tasty vaccine giveaway
Asset manager Vanguard is welcoming employees back to the office by offering a $1,000 bonus to staff who are fully vaccinated by October

"Do not rush to set up a check-box approach with negative screening and start de-investing"
Instead of rushing through an ESG framework, asset managers need to adopt a long- and short-term approach

Fund performance: CLOs dominate again as CIFC and Hildene score hat-tricks
CLO funds once again take over the top 10 as seven of those listed with Creditflux invest predominantly in the asset class. So far in 2021, CLO funds have held a majority of the spots in the top 10 on four occasions

Credit hedge funds (September 2021)
Credit hedge fund returns

Ucits at a glance: Loomis Sayles makes gains in sleepy July
Ucits fund returns

Taliban takeover likely to have long-term credit impact
Afghanistan’s takeover by the Taliban has barely caused a ripple in credit even regionally, but the power shift has wide-reaching implications that investors have yet to take onboard, say frontier market specialists

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

Reversal brings Chinese outperformance in credit
Credit market improvement hit an impasse in most jurisdictions during August, with range-trading in Europe, the US and much of emerging markets. But Asian credit, and Chinese markets in particular, enjoyed a strong run.

US spreads narrow gap with Europe as credit hits new record tights
Corporate credit spreads are exploring new tights for the year, with Europe taking its turn to grind inwards once again today after strong sessions in Asia earlier and the US on Tuesday

La Francaise adds two portfolio managers in European high yield
La Francaise says it has hired two portfolio managers to its high yield team in Paris

Crossover names drive rally on strong earnings as European traders return
Several high yield borrowers have made strong improvements on Tuesday as the post-Jackson Hole credit market rally has extended from Friday, with European traders returning after their long weekend

Retailer jumps on PE rumours while markets stay rooted in Jackson Hole
UK supermarket retailer Sainsbury's has been a notable mover in credit this week, as the wider market waits tentatively on Friday's Jackson Hole movement in the US and fund outflows signal nervousness about US Federal Reserve policy and escalating turmoil in Afghanistan

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

Chinese credit makes gains as Europe and US slump on Fed taper fears
Chinese credit spreads on Thursday depicted an island of optimism as global credit and stocks - including its own - slumped against a mounting confluence of concerns

Goldman Sachs strikes €1.6 billion deal to buy Dutch asset manager NNIP
Goldman Sachs has struck a €1.6 billion deal to buy focused Dutch asset manager NN Investment Partners from insurer NN Group

Travel co among underperformers as credit gives up gains
European credit is softening away from its recent tights in what is shaping up to be a fourth week of range-bound trading, with credit strategists identifying valuations as a key obstacle to improvement at the index level

Lingering covid vies with inflation as top credit threat, finds BofA
Covid-19 lingering is catching up with inflation as credit investors' number one worry, Bank of America's August survey has found. The picture for central bank purchases is bullish, but strategists see industrial and bank senior bonds as shorts for contrarians over the summer

Millennium senior tranche trader jumps to Verition
An experienced synthetic structured credit trader has left Millennium Management in New York to join Greenwich headquartered Verition Fund Management

High yield real estate firm pushes tighter on ratings boost
Adler Real Estate credit spreads are driving ever tighter, with positive signals from rating agency S&P adding to the company’s strong bull run, despite softening in the wider high yield market

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