Curve inversion for airlines and freight as Trump travel ban sparks sell-off
Airlines, travel firms and shipping companies are among some of the credits hit hardest by US president Donald Trump’s imposition of a ban on travel from mainland Europe, a move that sent the iTraxx Crossover index back to its widest level since October 2012

Credit breakdown as one-day volatility outstrips financial crisis
Credit default swap markets have surpassed the record one-day volatility of the global financial crisis, with indices surging to new wide prints as the spiralling impact of the coronavirus outbreak brings government lockdowns on travel while wreaking havoc on oil prices and supply chains

CLO giant casts eye on CSOs with plans to hire credit derivatives trader
An asset manager with almost $40 billion in CLO investments is looking to hire a credit derivatives trader in Newark in a role which would include coverage of index tranches and CSOs

Experienced CLO PM Bowers launches asset manager with private equity backing
Jonathan Bowers, a former partner and senior portfolio manager at CVC Credit Partners, has established an asset manager in partnership with a private equity firm

Apollo CLO and CSO specialists earn promotion to partner
Apollo Global Management has promoted two members of its global structured credit team, according to market sources

For a while, it seemed like every private equity fund was launching a credit fund

Franklin Templeton reorganises long-short credit fund team
Asset manager Franklin Templeton Investments will make changes to the portfolio managers for the Franklin K2 Long Short Credit funds, effective from October

Nordea AM portfolio manager joins Capital Four
Capital Four Management has appointed Nordea Asset Management portfolio manager Stine Milling Pilegaard as a director in its Copenhagen office

Barclays rehires high yield credit trader from Goldman Sachs
A high yield specialist has become the second credit trader in as many months to rejoin Barclays from Goldman Sachs

100% pay-out on New Look CDS as physical bids fail to materialise
A credit event auction to settle CDS referencing New Look today resulted in a zero cent final price, meaning contracts paid out to protection buyers in full - the first time this has happened other than by a 'deemed auction' decision since 2012

I still love to sit in front of computer screens to try and understand markets
Jochen Felsenheimer of Xaia Investment takes our credit quiz

Oak Hill reshuffles leadership in Europe
Oak Hill Advisors has appointed three long-serving members of its investment and business development teams to lead the European office

HSBC boosts single name CDS and index trading with experienced hire
HSBC has added a former index trading head to its credit team in London

Deutsche plots single name CDS return and index push with two senior hires
Deutsche Bank has made two senior credit trading hires to its London office, with sources saying these portend a revival of its CDS market-making business

UK prepares derivative regs for no-deal Brexit
The UK Treasury is seeking to amend onshored European Market Infrastructure Regulation (EMIR) legislation as it battles to avoid the risk that the country will leave the European Union without an effective regulatory framework for over-the-counter derivatives, central clearing counterparties and trade repositories in the event of a no-deal Brexit

Man Numeric launches credit platform and appoints co-heads of credit
Man Numeric, the quantitative investment business of Man Group, has launched a new credit unit and appointed two officials to lead the business

Jefferies creates team and aims to build CSO business
Amid mounting buy-side interest in the synthetic CDO market, sources say that Jefferies is looking to build a US business arranging these transactions  

Past returns: secret CLO market
Five years ago in Creditflux, we reported on the emergence of an inter-dealer market for CLOs

CDS could help wean credit off the QE intravenous drip
Muzinich's high yield portfolio manager Thomas Samson takes our credit quiz

Pension fund set to vote on rescinding York credit commitment and cutting Tricadia
The investment committee at San Bernardino County Employees’ Retirement Association has recommended that the pension fund rescind its commitment to a structured credit fund managed by York Capital Management, and terminate its relationship with multi-strategy credit manager Tricadia Capital Management

Global head of credit correlation leaves JP Morgan to launch new hedge fund
Market sources say that a high profile figure, known to have been responsible for unwinding JP Morgan's 'London whale' positions, has left the bank to start his own hedge fund

Tracking down the credit industry’s original winners
All winning managers at the first Creditflux awards survived the crisis, under their own names – like BlackRock – or under new owners. But what happened to the people who collected the trophies?
 

Cheyne generates double-digit returns for hedge funds
Cheyne Capital has delivered with two credit hedge funds that have reached their maturity

Synthetic CDOs seek to follow CLOs
Growing issuance, interest in longer maturities and the emergence of a secondary market are encouraging dealers to believe that bespokes are on the road to acceptance. By Sayed Kadiri

AB names fixed income co-heads and replaces Ashish Shah on two funds
Following the departure of Ashish Shah, who was AB's head of fixed income and chief investment officer, Will Smith has been appointed co-manager on two bond funds. Meanwhile, the firm has named two co-heads of fixed income