CDS sell-off brings profit-taking opportunity for basis trade players
Profit-taking on basis trades between CDS and cash bonds has begun, with the strong run for credit markets since the start of the year having hit a bump yesterday

LA pension fund seeks emerging manager for fixed income strategy
The Los Angeles County Employees Retirement Association (Lacera) has launched a request for proposal in which it seeks out a fixed income emerging manager specialising in liquid strategies, such as core and core plus strategies  

$1.8 billion manager Shelton buys credit manager Cedar Ridge
The $1.85 billion multi-asset manager has bought credit-focused firm Cedar Ridge Partners

Ziggo CDS protection buyers get a lift as DC votes for successor
Holders of credit default swap protection on Ziggo Bond Finance have received a boost, with the EMEA Determinations Committee ruling that contracts structured under the 2014 Isda credit derivative definitions have a successor – dispelling fears they would be orphaned.

Credit spread improvement is calm before the storm, warn strategists
European and US credit markets have begun 2019 with a more buoyant tone than they ended 2018, but strategists warn that bearish factors still outweigh and suggest the overall direction of spreads this year is likely to be wider

Credit pickers will win as high yield spreads widen in 2019, predicts Citi
After a volatile 2018 in the credit derivatives market, there are reasons to be optimistic this year for the best credit pickers, according to Citi’s global credit derivatives outlook

Robeco looks to align macro fixed income with credit as it makes senior hire
Robeco has hired Jamie Stuttard as co-head of the global fixed income macro team and fixed income strategist  

New York pension funds seek investment grade credit exposure
The comptroller of the City of New York is searching for investment managers, responsible for creating and managing investment grade credit, or investment grade corporate fixed income portfolios.  

JP Morgan AM's global fixed income chief steps down
JP Morgan Asset Management’s global fixed income and currency and commodities group chief investment officer has departed the firm, a spokesperson has confirmed

Muzinich poaches Neuberger Berman MD for top fund distribution role
Muzinich has hired a global head of distribution, according to an announcement today, picking up the role previously held by Joshua Hughes, who left for CIFC Asset Management in May

Selwood plants third credit opportunities fund with $150 million
Selwood Asset Management has launched a third iteration of its global credit opportunities strategy, according to 14 December US regulatory filings

Stone Harbor appoints co-CIO and high yield co-heads
Stone Harbor Investment Partners, the New York headquartered credit fund manager, has opted to share out its chief investment officer responsibilities

Cash-CDS basis set for comeback after "falling knife" mishap, predicts BNP Paribas
The beginning of 2019 should revive interest among credit investors to trade the basis between cash bonds and credit default swaps, according to BNP Paribas strategists – following what they term “falling knife” dynamics in this year’s fourth quarter

BNP Paribas Asset Management hires multi-strategy products head
BNP Paribas Asset Management has created a new position within its fixed income division

Neuberger Berman unveils three European fixed income funds
The three new European fixed income portfolios will be managed by Patrick Barbe and his six-strong team, who all recently joined from BNP Paribas

Loomis Sayles plans alternatives interval fund
Loomis Sayles is looking to launch an interval fund focused on alternative asset-based opportunities, according to 4 December US regulatory filings

Creditex obtains CFTC swap execution facility exemption
Creditex, the electronic brokerage for corporate bonds and credit default swaps, has been granted an exemption from a requirement to register with the US Commodity Futures Trading Commission as a swap execution facility

US pension fund seeks HY and IG managers - but not CLOs
Woburn Retirement System, a $153 million US defined benefit plan, has launched requests for proposals seeking investment managers for its US investment grade and high yield investments.  

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Credit sell-off has room to run and pricing is out of whack, says BNP Paribas
The credit market sell-off could have further to go despite recent widening and is “in the process of a late-stage business cycle unwind”, according to a strategist note seen by Creditflux

European CDS index tightens inside US even as bonds languish
Credit derivatives markets have hit a key point of trend reversal this week, with the iTraxx Europe five-year CDS index trading inside its US counterpart CDX IG for the first time since May

Ex-Citi CDO trading chief joins Jefferies as head of European fixed income
Jefferies has appointed a former Citi European credit and pre-crisis CDO trading head to lead its European fixed income business

Vanguard launches global bond fund with IG focus
Vanguard, the $5.3 trillion investment management firm, has launched an actively managed credit bond fund, providing investors with exposure to investment-grade credit markets  

Los Angeles pension fund plans $3.7 billion allocation to credit
Los Angeles City Employees' Retirement System, the $17 billion pension fund, is allocating to credit in 2019 - it's looking to put $2.44 billion to work in core-fixed income, $800 million into emerging markets debt, $235 million into high yield and a similar amount into a bond/loan hybrid fund