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.

Euro credit rallies in disconnect from US, Asia and equities
Credit spreads are heading tighter in Europe on Thursday, despite weakness in other markets, as this week’s volatile oscillation brings another change of direction

Fund performance: August provides much-needed relief for CLO funds
.August fund performance 

Credit funds at a glance (October 2022)
A round up of fundraising and people moves in credit
 

   

Credit hedge funds (October 2022)
Credit hedge fund returns

   

Dispersion picks up as candidates for distress emerge
Dispersion will be a concern for all parts of the global credit market in the fourth quarter, say traders who are focused on relative value

Franklin Templeton and Benefit Street launch credit interval fund
The pair have launched a multi-strategy credit interval fund named Franklin BSP Private Credit Fund, which will invest across US private credit

U-turns abound as markets pivot sharply on government and central bank rethinks
A big rally in financial markets on Tuesday has driven credit spreads sharply tighter, with a softening outlook for central bank actions building on relief that the UK government has opted to U-turn on its poorly received high bracket tax cut plan

Credit Suisse blow out puts financials in spotlight
Credit spreads have pushed wider on Monday, with underperformance in investment grade, as sharp oil price moves accompanied intensified focus on the banking sector amid a slew of worrying commentary on Credit Suisse

"Ugly" eurozone inflation numbers cap off torrid week for credit
Credit spreads are heading tighter into the weekend, as investors rebalance positions against a backdrop of easing currency pressures but a challenging array of European inflation numbers and a highly charged Brazilian election month about to kick off

Investors nurse wounds after UK scuppers credit expectations
Financial markets are picking up the pieces on Thursday following an extremely volatile session ignited in large part by UK economic mishap, which sparked fears of a financial crisis and necessitated the central bank’s intervention

UK and Italy in focus as credit rout extends
UK and Italy sovereign credit spreads are heading wider on Wednesday, as the market-wide sell-off takes indices to new extremes for the year

So long! US high yield index jumps tighter with roll from old to new series
Credit spreads have retraced tighter on Tuesday, after two days of heavy selling pressure, as investors in US high yield index CDX HY get set for its roll into a new series

Experienced structured credit trader to join bank after leaving Credit Suisse
Credit Suisse is set to lose a trader with almost 17 years experience at the firm to another bank in New York

European credit returns to peak covid levels with UK getting pounded
What looks set to be another challenging week for financial markets has opened as bearishly as last week ended, with credit spreads in Asia and Europe once again surging to new wides

Surge in hedging sends credit spreads to year's wides
A busy and bearish week is ending with credit spreads surging beyond their previous widest levels of the year, with Italian elections this weekend adding to caution in Europe after a string of central bank policy decisions reshaped the global economic outlook and the UK government scrambled to address rising energy costs

Bruises start to swell, despite BoE pulling its punch
Market mood is growing uglier as the week progresses, with global investors increasingly looking for safety as the impact of central bank interventions combines with escalating fear over Russia’s campaign against Ukraine

Powell moves set to surpass power moves as credit spreads head wider
Hedging has been a prominent feature of financial markets ahead of Wednesday’s hotly anticipated US Federal Reserve statements, but Russia’s move to escalate its war efforts in Ukraine has injected another layer of uncertainty

Nomura readies multi-strat credit interval fund launch
Nomura Private Capital is readying the launch of a new, closed-ended interval fund which will invest across the credit spectrum - including bonds, loans, CLOs, distressed debt emerging market debt

Big push wider for credit index spreads as traders navigate challenging roll
The roll of CDX and iTraxx credit indices is proceeding, with traders scrambling to respond to a big shift in relative dynamics between the US and Europe following London's long weekend

US-led sell off shifts index roll technicals with key rates decisions looming
Further deterioration in global economic outlook is causing credit spreads to move back to the midpoint or wide end of their recent range, after a week of reversal from the previously more optimistic September trading run

Euro credit hits new tights against US after months of underperformance
The gap between European and US credit has closed, with indices trading at their tightest relationship for several months, after US economic data introduced a fresh bout of volatility

Anchorage holds first close on credit opportunities fund
Anchorage Capital has held a first close on its latest credit opportunities fund, Anchorage Credit Opportunities Fund VIII

Allspring hires head of US distribution
Allspring Global Investments has hired John Moninger as head of US distribution in a role encompassing retail and institutional sales, platform development, client service and consultant relations.