Capital Group hires senior portfolio manager from AB in London
Capital Group has drafted in an investment director in London as it targets European investors 

Shipping firm adds buoyancy amid few signs of choppiness in credit
CMA CGM, the French container shipping company, is a big mover today amid very calm waters elsewhere in credit.

Novicap tech platform targets credit investors with fundraising drive
Novicap, a fintech company offering working capital optimisation solutions to SMEs and mid-market corporates, is looking to debt capital markets participants such as credit and structured credit funds, asset managers, pension companies and insurers as it seeks to raise third-party funding for its credit platform

"In the afternoon I awoke from a pile of willow leaves to discover we had created a Welsh ether-based token"
A localised crypto-currency boom and bust cycle teaches Welshcake (again) that everything becomes correlated in a downturn  

Tech firm tempts credit investors with supply chain finance offer
Novicap, a fintech company focused on invoice financing, is looking to debt capital market participants — such as credit and structured credit funds, asset managers, pension companies and insurers — as it seeks to raise third-party funding for its credit platform

Focus shifts to macro views amid blurry relative value picture
Relative value trading has become a difficult place to operate in credit, with previously effective strategies such as compression, pairs and basis hard to discern and opportunities difficult to source, according to portfolio managers. 

Single Bs bomb as beta narrative shifts
Few signalled themes in credit have died away as quickly as that of the outperformance of single B rated credit, which several firms proposed at the start of May but soon found crushed by a cocktail of worries around inflation, central bank policy, supply and high yield fund outflows

Fund performance: CLO funds outperform as two hit over 100% 12-months return
CLO funds swatted away the competition in April on their way to dominating our top 10 credit hedge fund return table after an upbeat month

Credit hedge funds (June 2021)
Credit hedge fund returns

Credit bull run picks up amid commodities surge
European credit spreads have made a sharp turn for the tighter, building on last week's strong run, even after Asian spreads weakened on rising commodity costs

Meag hires experienced credit specialist for top fixed income job
€328 billion asset manager Meag has appointed a head of active fixed income in Munich to oversee a range of assets including credit

Credit grind makes it five days out of five in bullish week
Credit markets are heading into the weekend on a fifth straight day of improving spreads, amid signs of returning economic confidence and appetite to invest in the asset class

Financials and high yield outperform as rally gathers momentum
Credit spreads are enjoying a second day of improvement to regain some of the ground they lost last week, with Italian banks, commodity traders and higher yielding borrowers among outperformers in a broad rally of both indices and single name borrowers

Commodity inflation sends Asia spreads back to wides
Asian credit and stocks added to a rough few days with further sell offs on Thursday, outpacing deterioration in other regions

Sell-off regathers momentum as inflation signals mount
A glum mood has returned to financial markets, beginning with the US session on Tuesday and overspilling into global trading on Wednesday

Financials and high yield corps retrace tighter after inflation shake out
Credit markets firmed up on Tuesday, with European single name CDS finding a chance to recover some ground after Monday's inflation-led weakness. But credit indices underperformed, struggling to return tighter even as stock indices advanced once again and oil prices hit new highs

Credit underperformance resumes as equity turns corner
Credit markets are pushing wider once again on Wednesday, even though stock markets look to regaining some composure following Tuesday's steep sell off

Fund performance: Lightning strikes twice as range of credit funds deliver
What seemed like a chance occurrence in February has struck again in March, as seven categories make our top 10 best performing hedge funds

Credit hedge funds (May 2021)
Credit hedge fund returns

Telecom Italia spreads dial up as Draghi disconnects network plan
Telecom Italia is among Thursday's underperforming credits in Europe, after the country's prime minister Mario Draghi scrapped plans for a single national fibre network

Credit and stocks regain composure on rates as oil hits new heights
Credit and equity markets have improved again on Wednesday morning, after US treasury secretary Janet Yellen's comments about possible rate rises spooked markets on Tuesday afternoon

M&A drives movers in high yield and investment grade
Acquisition talks are having the biggest impact on European credit spreads on Tuesday following the UK bank holiday, with several names moving against an otherwise flat market

Banks set to offer client clearing of credit index options
Bank members of LCH, the London Stock Exchange's clearing arm, will soon start offering client clearing of CDS index options, as the industry prepares for its next ramp up of margining requirements

Spread tightening picks up with single names making good ground
The credit market rally picked up its pace on Thursday, after several days of more incremental movement. A notable feature is that single names are picking up the shift and in numerous cases outperforming rather than lagging indices

Saipem moves sharply on Mozambique moans
Saipem, the Italian energy engineering group, was a big underperformer in a flattish credit market on Wednesday, as uncertainty over a project in Mozambique weighed on first quarter results and its outlook for the year