Europe leads broad rally amid speculation on softening rates timeline
After a cautious start to the week, credit markets have rallied ahead of policy decisions by the US Federal Reserve and Bank of England, amid growing investor anticipation of a slowdown in rate hikes as well as hope of a reopening Chinese economy

Franklin Templeton wraps up deal for $35bn Alcentra
Franklin Templeton has completed its acquisition of BNY Mellon’s $35 billion credit unit Alcentra

Credit faces blind spot as borrowers enter higher default cycle: BNP Paribas
With short term rates outstripping nominal GDP growth, the credit cycle is entering its next and final stage – one in which corporate defaults will pick up but high quality borrowers should outperform

Aristotle boosts credit business with Pacific AM acquisition
Pacific Life Insurance Company has agreed to sell its credit asset manager – Pacific Asset Management – to Aristotle Capital Management

Credit pivots sharply as US returns to growth and ECB confirms record hiking cycle
After a wider start, credit markets reversed course Thursday having digested a strong US GDP reading and the European Central Bank lifting its base rate by 75bp – a move that confirms this as the region’s most aggressive ever hiking cycle

Iron Park finds new parent just 10 months on from Hunter Point investment
General Atlantic says it has agreed to buy credit manager Iron Park Capital Partners with a view to rebranding it as General Atlantic Credit

Investment manager launches to finance non-sponsored mid market
A new alternative manager launched Monday with a focus on debt and equity investments in non-sponsored, lower middle market businesses in North America

UK credit spreads rally for Rishi
UK credit spreads have rallied sharply on Monday with the victory of Rishi Sunak in the contest to become the country’s third prime minister of the year

Sona rolls out event-driven and bespoke financing fund to US investors
Sona Asset Management is courting investors in the US for its second capital solutions strategy, having filed an offering of the fund with the Securities & Exchange Commission

US and Europe divide honours between HY and IG as market rally extends
A second straight day of improvement is adding to this week’s gathering rally, but while US high yield is outperforming European the reverse is true in investment grade

It's time for bullish reversal on IG credit to play decompression: JP Morgan
Having been bearish most of the year JP Morgan has changed its view on investment grade credit to neutral, saying value has become too cheap to ignore

Angelo Gordon makes senior hire to cater to insurance company investors
Angelo Gordon is expanding into investment solutions for insurance companies after hiring from JP Morgan 

Credit Suisse and UK names lead charge as European IG outperforms
European investment grade credit is rallying strongly at the start of this week, in contrast to a sluggish start by its US counterpart market, with Credit Suisse and UK companies among the outperformers

Credit/equity RV trades work better in selloffs than rallies: Barclays
Investors looking to exploit dislocations between high yield debt and equity would do better to short bonds following equity selloffs rather than buy bonds following equity rallies, according to Barclays credit strategists

Credit volatility leaps after US inflation bolters hawks
Credit volatility spiked on Thursday in the wake of a US inflation report that dispelled any remaining conjecture the Federal Reserve will slow its pace of interest rate hikes at the next policy meeting

Deutsche hires credit strategy head from rival bank
Deutsche Bank has hired a new head to oversee European and US credit strategy

Fidelity Investments eyes CLOs as part of multi-strategy credit fund
Fidelity Investments is preparing to launch a new multi-strategy credit fund, which will “opportunistically rotate across the entire credit spectrum”

UK adds itself to sour global cocktail with investors given another shake
US investors are returning to a sour mood across global markets on Tuesday, with escalating warfare in Ukraine, Chinese covid cases at a two-month high, the Biden administration in a standoff with China over microchips, and the UK still managing to hold focus for economic mishap

Weak opening for markets as BoE makes new intervention and Asia sell-off extends
In the absence of the US market on Monday for the country’s Columbus Day holiday, global markets have extended their bearish direction following US jobs numbers on Friday that point to further hawkishness in the outlook for rate hikes

US jobs strength sends traders scrambling to cut Fed pivot trades
Credit spreads are ending the week on a sharp move wider, with a heavy sell off hitting financial markets in the wake of US jobs numbers that suggest any notions of a Fed pivot on rates are premature

Former Ares partner resurfaces at US multi-strategy asset manager
An experienced credit portfolio manager who worked at Ares and BlueBay has returned to the credit industry 

CIFC hires Carlyle's credit investor relations head
CIFC Asset Management has hired T Michael Johnson as managing director and co-head of business development

One-year CSOs come to fore as investors predict widening
With credit spreads entering the fourth quarter at much the same elevated levels they began Q3, investors are increasingly looking to bespoke tranches as a way of taking advantage while mitigating the market’s tail risks.

Investors tipped to take on key role in growth of CFOs
It’s early days in the renaissance of the market for collateralised fund obligations (CFOs), but market participants are looking forward to how the product will evolve.