CDS relative value traders shift their bets as Europe trades inside US
Credit derivative markets have hit a point of position cutting and resetting, with the iTraxx Europe index having dipped inside its US counterpart CDX IG for the first time since December even as the European Central Bank’s new funding programme underwhelmed financials traders

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

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

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

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

Cheyne more than doubles assets for credit fund in five months
Cheyne Capital has more than doubled assets for Cheyne Total Return Credit Fund December 2023 – in the space of just five months

Hermes launches £185 million unconstrained credit fund
London-based Hermes Investment Management has launched a new Ucits-compliant unconstrained credit fund - which will include pricing ESG risks

Join the debate: most memorable moment in credit
At Creditflux we’ve now produced 200 monthly magazines since Fishknife first came up with the idea of tracking the global credit markets in 2001). We asked several key credit industry officials about their most memorable moment in credit

Anchorage wins $75 million ticket for global credit fund
A US pension fund has approved an investment in the upcoming Anchorage credit fund

Fund platform AMX eyeballs credit funds
Willis Towers Watson’s hedge fund platform has grown to $1.5 billion – and there is space for credit managers