Rude awakening for credit as US airstrike sends global shockwaves
It only took a day for the positive mood greeting financial markets in 2020 to turn nervous, with credit and equities faltering in early trading today after the US killed a top Iranian military official

Arizona pension to deploy up to $700 million a year in private credit
Arizona Public Safety Employee System is looking to deploy $600-700 million in private credit strategies per year in order to meet its target allocation, according to board documents seen by Creditflux.

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).

Diverging views emerge over performance of ESG investing, RBC survey reveals
Investors which incorporate ESG principles are convinced it adds value, but those who do not are more uncertain, according to a survey by RBC Global Asset Management 

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: 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

China ambitions checked in final roll lists for iTraxx and CDX indices
The index roll lists for iTraxx Europe, iTraxx ex-Japan and CDX EM, have all undergone a rethink since IHS Markit published provisional lists earlier this week, with final lists showing name changes

iTraxx and CDX roll provisional lists reveal effects of index overhauls
Eagerly awaited provisional lists are out for this month’s index CDS rolls, with big changes signalled across iTraxx and CDX products

CDS data snapshot: central bank positioning and index rolls drive flows
Welcome to the inaugural run of what will become a weekly insight into credit derivatives trading. Each week, Creditflux will highlight trends and dynamics from most recently available market data. We welcome feedback on measures of the market readers would like to see here in future

Fund performance
A round-up of fund performance

EQT looks to raise €500 million via IPO
The initial public offering is anticipated to increase EQT's flexbility to “pursue growth opportunities” and expand its private market investing business

LCH's French unit adds first Japanese clearing member
Mizuho has signed up as the first Japanese clearing member of LCH SA, the French clearing unit of London Stock Exchange-owned LCH Group

Buy iTraxx Europe equity tranche risk but sell Crossover mezz, says JP Morgan
Investors should stick with ‘search for yield’ ideas in investment grade credit, say JP Morgan credit strategists, including selling iTraxx Europe 0-3% equity tranches delta hedged, going long the 10-year Europe index, and selling credit volatility through index options while buying equity market volatility

Investor requirements rather than performance is driving ESG push: Creditflux survey
Only 14% of respondents to Creditflux's global credit ESG survey said performance was the main reason they were adopting envoronmental, social and governance-themed strategies

First Abu Dhabi Bank pushes into credit derivatives with trading head hire
First Abu Dhabi Bank (FAB) is making a foray into credit derivatives and has hired an experienced credit trader to lead the initiative

16% of insurers plan CLO allocation increase, survey finds
Goldman Sachs Asset Management has released its annual insurance asset management survey

Carmignac adds global credit Ucits strategy to its range
The fund will be co-managed by Carignac’s head of credit Pierre Verlé and fixed income fund manager Alexandre Deneuville

Man GLG adds credit portfolio manager in London
Man GLG has appointed a lead portfolio manager from Aventicum Capital Management

It’s going to be a credit picker’s market
Our panel of experts believe that the credit market will be volatile this year, but there will be opportunities in European credit and additional tier one bonds, trups CDOs and unitranches

Dai-ichi anchors global infrastructure debt fund with $176 million
Asset Management One Alternative Investments has joined together with Dai-ichi Life Insurance to launch a new global infrastructure debt fund

September: credit funds at a glance
White Oak Global Advisors held a $2.1 billion final close on a new direct lending fund, while Phil Raciti's move from CVC Credit Partners to Halcyon Capital Management was one of the biggest moves in the credit industry

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

Pimco receives nearly $400 million for ESG fixed income mandate
 An $11 billion super fund has awarded a new ESG-focused fixed income mandate to Pimco

BlackRock seeks $1 billion for new multi-strat opportunities fund
The new trust will invest at least 80% of its assets in fixed income securities and up to 40% in special situations, SEC filings reveal 

Pictet launches Asian corporate bond fund
Geneva-headquartered Pictet Asset Management has launched a Ucits-compliant Asian corporate bonds fund