Corporate credit performance expected to catch up with financial borrowers as European quantitative easing begins
The return of European Central Bank quantitative easing on 30 October portends a catch up this month of corporate credit performance with other parts of the market, such as financial borrowers, say strategists.

Over 1,200 sign up to CDS protocol
Plans to improve CDS market integrity have received a boost, with the International Swaps & Derivatives Association drawing a stronger than expected response to its protocol aimed at stamping out narrowly tailored credit events (NTCEs).

Fund performance
A round-up of fund performance click here.

CBOs aren’t fixated on interest rate moves
The loan sell off at the start of this year highlighted that CBOs are not a play on interest rates or bond prices — they’re taking advantage of the flexibility to rotate between loans and bonds

Credit traders' kickstand: QE and dispersion sever 'haves' from 'have nots'
The underperformance of European high yield credit has picked up this week, on rising concerns about dispersion in funding access

CDS traders get second extension on narrowly tailored credit event protocol
The International Swaps & Derivatives Association has extended for a second time the deadline for market participants to adhere to a protocol aimed at stamping out narrowly tailored credit events from the CDS market

Traders face Monday deadline for manufactured credit event protocol
Interested parties have until Monday to sign up to a protocol aimed at stamping out narrowly tailored credit events from the CDS market, with the International Swaps & Derivatives Association having given extensions on the original deadline

US insurer to allocate $1 billion across CLO tranches, corporate loans and bonds
Managers have until Tuesday to submit proposals to New York State Insurance Fund, which is seeking CLO, bank loan and high yield corporate bond managers to invest $1 billion in separately managed accounts 

Diameter circles back to CBO market with its second transaction
Diameter Capital Partners yesterday priced its second CBO, just five months after issuing its first, according to market sources

Capital structure emerges for forthcoming debut CBO from Sculptor
Sculptor Capital Management is set to join the ranks of the world’s CBO managers, according to market sources

ESG phenomenon leads to talk of incentive fee models
For asset managers that are diving into environmental social and governance (ESG) investment standards, an ugly truth is the lack of any standardised performance fees. But that could change as more investors begin picking and choosing allocations based on ESG rubrics.

Highland files for bankruptcy
Highland Capital Management filed for Chapter 11 bankruptcy in the Bankruptcy Court in the District of Delaware (Docket No. 19-12239)

Reality bites after credit traders abandon Brexit hedges
Rediscovered faith in the ability of the UK and European Union to reach an agreement before the 31 October Brexit deadline has helped fuel a surge tighter of credit spreads, led by UK financial names. But that break with caution faces an immediate reality check today, following admissions a lot more work is needed

Credit traders' kickstand: curves in focus as market overcomes mid-week wobble
Credit markets have had a more positive week overall than last, and that was given a couple of extra twists today by UK/European Union and US/China talks. But this masks weakness mid-week and, following a brief steepening of curves, improvement is mainly exhibited by financial sector names

US pension injects $300 million into mezzanine debt and high yield
Virginia Retirement System has earmarked $300 million for investments in high yield and mezzanine debt, according to a document seen by Creditflux.  

CVC adds Alcentra official to investor relations team in London
CVC Credit Partners has appointed a managing director in its investor relations team from Alcentra 

Arkansas pension shakes up credit portfolio
Arkansas Local Police and Fire Retirement System has made changes to its credit portfolio, adding new commitments to credit managers and terminating some existing relationships, according to a document seen by Creditflux  

ESG education top priority for 42% of institutional investors, CFA Society finds
Global Institutional investors are increasingly adopting ESG into their investment decision making – but education on the topic and quality ESG data are needed to help them progress, according to a survey conducted by CFA Society in New York

Managers have leeway even after triggering key person event, finds Ropes & Gray
Almost all credit managers offer protection to investors that key employees will continue to manage the fund’s assets throughout its life, with 95% credit funds containing such "key person clauses". But that does not mean managers have their hands completely tied

Credit traders' kickstand: trade troubles threaten volatility "sooner than you think"
Most of the credit market goes into the coming week in a more nervous mood than it began this week, with hopes for the resuming US-China trade talks tempered by the US’s opening of a new front with Europe on trade

Wells Fargo AM makes senior marketing hire
Wells Fargo Asset Management has appointed Kelly Vives as head of marketing, according to an internal memo seen by Creditflux

It may seem a bit rich for Welshcake to tell staid CLO investors they need to be more sensible
Bespokes are the next big thing — and you’d be wise to get involved

Typical CLO structures can’t take advantage of dislocation in the high yield bond market – yet
High yield bond buckets in CLO 1.0s allowed managers to build par — it is time CLO 2.0s had the same opportunity