Loss absorbing rules spell wider trading for financials index
An unusually wide roll is expected in the iTraxx Europe Senior Financials basket when it moves from series 29 to 30 this month, as Danish and Spanish banks begin to include new senior non-preferred bonds as their reference obligations for credit default swap contracts

Dealers show appetite to retain tranches amid CSO growth
There are increasing numbers of dealers involved in the CSO market and their approach to issuing bespokes is evolving, attendees at Creditflux’s Credit Dimensions conference heard last month.

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

Points up front: super senior CSO investors wanted
As part of a vibrant opening panel at Creditflux’s Credit Dimensions event in New York last month, we came tantalisingly close to issuing a managed CSO in front of a live audience (if you ignore formalities such as warehousing risk and sourcing single name CDS)

Being long-only is just so 1980s
At the Credit Dimensions event in New York, structured credit investors looking to spruce up or repair their portfolios were advised to look at CSOs, index tranches and credit default swaps

Nomura hires EMEA flow credit trading head following departures
Nomura has hired John Gousias to head its flow credit trading business in Europe, the middle east and Africa

Rallye races towards over 50s club in CDS as Astaldi faces Crossover index ejection
Rallye, the parent company of supermarket chain Casino Guichard-Perrachon and a former fellow-constituent of credit default swap index iTraxx Crossover, has surged wider to near 50 points up front in five-year CDS trading

CBOE touts first US high yield corporate bond index futures
CBOE Global Markets will launch trading of US high yield corporate bond index futures next month

Barclays hires another senior EM trader as Turkey continues to roil markets
Barclays has made an experienced hire to its EM credit trading team in London

Partner leaves Cheyne after five years at the firm
A marketing official, who has covered loan funds and synthetic credit strategies, has left Cheyne

Mediobanca hires experienced credit trader to build out loan franchise
Mediobanca has appointed an ex-Deutsche Bank senior credit trader as head of loan trading

Turkey CDS rallies back inside 500bp on Qatar help, but curve remains inverted
Turkey’s sovereign five year credit default swap is back below 500bp today, following the financially embattled country’s recent spread blow-out

Italian bank completes SRT with European Investment Fund support
Banca Popolare di Bari has constructed a €174.5 million significant risk transfer (SRT) deal, which features a vertical risk sharing mechanism

BNP Paribas hires global credit strategy head
BNP Paribas has appointed a global head of credit strategy and desk analysts.

New York manager prepares interval credit fund launch
A structured credit fund manager is joining the interval fund rush 

Central clearer resource concentration puts systemic risk in spotlight
A joint study by regulators has revealed that default resources are increasingly concentrated in just two central counterparties

BNP Paribas hires experienced structured credit trader in London
BNP Paribas has hired structured credit trading specialist James Moi to its business in London  

Steep climb: dealers and investors cross-examine merits of five-year CSOs
The market for bespoke tranches of credit synthetic obligations (CSOs) looks set for further year-on-year growth, but this could depend on expanding activity to longer tenors

High profile figure in SRT market leaves Nomura in London
A well known figure in the significant risk transfer (SRT) space has parted company with Nomura in London, sources say.

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

Alarm sounds on margin rules as small funds look to make early inroads
A fast-approaching 1 September regulatory deadline for phase three market participants to apply initial margin (IM) to derivatives trades looks set to pass without serious mishap, according to lawyers and the International Swaps and Derivatives Association

Trimming hedge costs with a mark-to-market approach

Lack of covenants could be a big theme in the next credit cycle
Citadel's Marina Lutova Meyers takes our credit quiz

Viva la vida: fund manager Vida launches $800 million insurance credit fund
Texas-based Vida Capital Management has raised at least $800 million for its second credit opportunities fund