Sculptor and Och reconcile as sale process kicks off
Sculptor Capital Management is looking for a buyer after forming a special committee and building bridges with its founder Daniel Och

Outsized corporate rally puts financials RV in focus
The week is ending with resumption of credit’s recent rally after a brief pause, and Europe once again taking the lead over the US

BlackRock launches impact bond fund
BlackRock has launched a fixed income fund focused on green, social, and sustainable bonds as well as ‘impact’ MBS and municipal investments

UK nerves rattle Europe/US relative value trades, as Hunt seeks to reassure investors
A palpable mood of trepidation on Thursday around the UK’s autumn budget has brought widening of credit spreads, with European indices giving back gains they have made in recent sessions versus their US counterparts

Europe's outperformance reverses after Poland attack and inflation numbers
European credit spreads are heading wider, following a strong run, with the UK’s latest inflation reading worse than expected and a missile strike on Poland having raised geopolitical risk on the continent

European outperformance creates index options trading mismatch: Barclays
The recent outperformance of European credit over US has shifted the value of iTraxx index options, but CDX index volatility premiums stand out for having hit a new low

China property rescue plan keeps credit on front foot
China’s policy shift on covid rules and measures to prop up its ailing property market have brought a buoyant start to the week, despite financial markets having already rallied sharply last week

Credit euphoria follows CPI, but analysts warn of comedown
Softer than expected US inflation numbers have ignited a spectacular rally in financial markets. But strategists and economists warn against the exuberance, arguing more pain is likely on the way

US lags as midterms, dollar and global slowdown weigh against broader rally
European and Asia outperformance over the US is extending at pace at the start of the week, with a strong improvement in spreads coming ahead of the New York market open

Europe-US convergence in play as week ends on strong rally
A big push tighter in credit spreads on Friday has extended the theme of European outperformance, with iTraxx Crossover briefly trading inside US high yield index counterpart CDX HY for the first time since July

"Forget the World Cup, the macro-economic catastrophe cup has more well-matched contenders"
Government bonds are rallying in some quarters, but the odds are on more stress feeding into credit  

High yield markets win big in 2022’s love-letter to CDS
Tradeable credit assets have suffered a rough year for liquidity and returns, but credit derivatives are among a small group of products defiantly enjoying a bumper year. 

Soft mood music abruptly dashed as Fed and BoE rile markets
The credit market’s strong run of improvement has come to an end this week, with the US Federal Reserve and Bank of England delivering a reality check to hopes of a more dovish path forward on interest rates

Fund performance: Wake us up when September ends
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return.

Credit hedge fund returns (November 2022)
Credit hedge fund returns

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

Asia credit rallies sharply but rest of world holds firm ahead of Fed
While most of the global financial market hangs in the balance, Asian credit has undergone a second day of relief rallying having hit the year’s peak on 31 October

Sculptor CEO Levin refutes "personal issue" accusation by ex-chief Och
Sculptor Capital Management’s independent board and the company’s chief executive officer and chief investment officer Jimmy Levin have fired back at former CEO and founder Daniel Och after he cited a “personal issue” in reference to Levin’s past

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

Private equity firms are becoming CLO converts: TwentyFour
Private equity firms have increasingly bought CLO and other securitised debt tranches in recent weeks instead of their usual preference for physical assets - a trade TwentyFour believes "makes perfect sense"

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

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