KKR deploys 10% of $2 billion coronavirus dislocation credit fund
KKR Credit has plans to launch a $2 billion dislocated corporate and asset backed credit fund to take advantage of coronavirus-induced volatility. And the New York-based manager has wasted no time swooping on opportunities after deploying $212 million by 9 April

Fidelity and Loomis Sayles win IG and securitised credit mandates
Fidelity Institutional Asset Management and Loomis Sayles have beat out the competition to manage Employees System of Rhode Island’s investment grade corporate credit and securitised credit plans

Selecta and Southwest battered as market trades flat as a pancake
Single name credit movements are taking focus as market volatility abates, with Selecta Group and Southwest Airlines earnings putting them among the biggest wideners

Airlines and banks lead way as credit rallies on aid measures
Airlines are getting the best of a positive start to the week, with hopes of financial assistance growing for European carriers and spreads generally pushing tighter after the Bank of Japan unveiled new stimulus measures

Credit keeps its own rhythm amid oil crash and EU clash
As another week of worry and disappointment ends, the most optimistic thing that can be said for credit is the new peak spreads are lower than those that went before - suggesting a more manageable level of volatility is starting to characterise the market

SEC proposes new fund valuation framework
The US Securities and Exchange Commission has proposed a new framework for funds to determine fair value for assets for which market quotations are not readily available, which it says will "improve valuation practices and thereby protecting investors and improving market efficiency, integrity and fairness"

US/Europe relative value in play as oil prices stabilise
Tightening European credit indices today have added to the relative value trading opportunity with US counterparts ahead of that market's open

Market sell-off gathers pace as oil rout spills over into credit
Credit spreads are pushing wider across the board today, along with slumping stocks, after a crash in oil prices took WTI futures below zero for the first time

Italian banks push wider on EU coronabond stand-off
Political divisions over tackling the coronavirus economic crisis are front and foremost for European credit traders this week ahead of an EU leaders virtual summit on Thursday, with Italian and Spanish banks among today's worst performers in CDS

Credit Rendezvous: recovery begins, but is it U, V or even W?
Investing in credit is not as easy as ABC. The coronavirus crisis has crushed valuations and although most assets will eventually pull to par, no one is sure how the recovery will pan out

Extreme gap opens for basis traders as relief packages cause distortion
Evidence abounds for how government and central bank interventions in the coronavirus crisis are distorting credit markets, but one clear signal is the flip-around of the basis between corporate bonds and CDS in recent days

Trouble brews for hard-hit credits despite improving optimism
Deutsche Lufthansa, Hema and Matalan are among credits pushing wider against the grain today as the European market tightens back within its recent narrower range

Credit pulled in different directions as coronavirus relief opens political divisions
A cautious tone surrounds the return of European credit trading after the long weekend - and the Fed-package furore that ended last week. Today's lack of European credit direction comes despite big rallies in Asia, better stock markets and an EU agreement on Friday for €500 billion in stimulus measures

Good Thursday for credit, as Europe gains gusto from US resurrection
The Easter revival has come early for credit, with three straight days of global improvement and iTraxx Crossover today rallying again into the long weekend at its tightest print for a month

Coronavirus volatility drives CDS clearing surge at LCH
CDS volume at LCH, the central clearing house of the London Stock Exchange, blew previous records out of the water in this year's first quarter, underscoring how the asset class served as a leading signal in the onset of the coronavirus pandemic

Axiom bets on 2002-style credit recovery with crossover fund launch
Axiom Alternative Investments is readying to launch a fund aimed at generating returns from the dislocation and revival of European and US credit as the coronavirus pandemic develops

Vermont pension expands private credit and core bonds allocation
Vermont Pension Investment Committee has reshuffled its credit portfolio including transitioning its short-term, quality credit allocation to an active core bonds mandate, as well as redeploying core plus fixed income into an expanded private credit allocation.

Europe/US credit gap extends as coronavirus curves part ways
The gap between European and US credit performance is widening as hopes rise in Europe the spread of the coronavirus could be slowing even as its impact extends in the US

US/Europe CDS relative value in play as index gaps widen
A growing differential is opening this week between European and US credit derivative indices, with stark warnings yesterday on the impact of the coronavirus pandemic prompting a big sell-off in financial markets

Financials lag as credit rallies on Chinese manufacturing pick up
Credit market improvement has continued this morning on signs of Chinese economic recovery, after the rally in spreads resumed yesterday afternoon in Europe and throughout most of the US session

Financials and commodity names lead credit widening as oil slumps
Credit markets ended last week going wider and the theme continues today, as the price of oil slumps further amid growing concern about how the impact of the coronavirus outbreak will stifle demand

Credit traders' kickstand: market whipsaw throws tranche trades and index rolls into focus
Credit's relief rally was unlikely to last long, but hopes of reaching the weekend are dashed on today's sharp reversal, right as CDX HY and CDX EM roll into new series

Jump-to-default risk collapses after Senate backs biggest ever US relief package
The US Senate's agreement of a record $2 trillion stimulus package is shaking jump-to-default risk from high yield corporate credit today, with some iTraxx Crossover constituents shedding over 1,000bp from the front end of their CDS curves

SEC relaxes borrowing rules for funds affected by covid-19
The US Securities and Exchange Commission has granted registered funds temporary relief and flexibility to borrow capital from affiliates and enter into lending arrangements as they address the impacts of covid-19 on their portfolios

Credit markets rally, but hopes rest on US stimulus vote
Credit spreads are rallying back today, along with other financial markets, as hopes rise the US congress will agree a massive fiscal stimulus package and other governments in major economies echo a "whatever it takes" line to combat the coronavirus outbreak