Citi promotes structured credit specialist to top Emea credit trading role
Another senior official in Citi's credit team has been promoted

SRT market keeps pumping deals as Greek and German banks free up capital
Dealflow in significant risk transfers is picking up, with a €2.7 billion Greek mortgage and SME lending deal and a €2.1 billion German corporate loan transaction printing in recent days

CSO equity investors line up deals amid dispersion threat
Synthetic bespoke tranche issuance has hit an impasse in recent months, denting projections for overall 2022 business at the mid-year point. But unlike the covid sell-off of 2020, wider spreads have created a queue of buyers ready to drive deals if condition

Credit hedge funds (July 2022)
Credit hedge fund returns

A&M makes securitisation breakthrough with SRT for Polish bank
Alvarez & Marsal says it has completed its first securitisation as sole arranger after completing an SRT referencing a pool of housing community loans

Italian €1bn SRT underlines advantage over CLOs and CSOs
The European CLO market has ground to a halt for the last three weeks, but a €1 billion SRT signed this week underlines there is appetite for some securitisations

Credit hedge funds (June 2022)
Credit hedge fund returns

   

Novicap names new CEO in leadership shuffle as it sets targets for credit division
Novicap, a fintech company offering working capital optimisation solutions to SMEs and mid-market corporates, has shuffled its leadership structure and set a €1 billion cumulative volume target for its credit division by the end of this year

Credit hedge funds (May 2022)
Credit hedge fund returns  

Dispersion begets dispersion in mixed bag of fund returns
Idiosyncratic risks are set to rise in credit, with fund managers becoming occupied with tail risks, and that has been seen in a scattered set of March hedge fund returns

JP Morgan splits global head of institutional structuring role as it promotes three
JP Morgan has rejigged part of its credit structuring business with a set of promotions for officials who have covered SRTs, CLOs and CSOs as part of cross-asset roles

Winton hires quant credit specialist as PM
Winton, a London-headquartered asset management firm that specialises in quantitative strategies, has hired an experienced trader to focus on credit alpha capture

German property co hits new wides as investors scrutinise investigation report
The bearish momentum that gripped financial markets on Friday has spilled over the weekend into Monday's session, with an especially big move in the debt of one German real estate borrower taking it to worrisome spread levels

Chorus reaches crescendo with big SRT hire
Chorus Capital says it has hired an experienced significant risk transfer official to its investment team and executive committee in London

Credit hedge funds (April 2022)
Credit hedge fund returns

Credit indices show central bank-led swing potential
Macro credit trading in March was overwhelmingly about the consequences of Russia’s invasion of Ukraine, but the pendulum is swinging back to central bank policy

PGGM partners with Polish bank for landmark SRT
PGGM has closed what it claims to be the largest securitisation in central and eastern Europe through a PLN 9 billion ($2.08 billion) SRT

High stakes promise big year for new short-dated CSOs
The bespoke tranche market looks set to put in revitalised issuance numbers in 2022 as interest grows in structured assets. But a clear trend is emerging for investors to assume short-dated exposure amid increasing macro and geopolitical uncertainty

Credit hedge funds (March 2022)
Credit hedge fund returns

Relief rally for riskiest credits brings reversal on dispersion and first loss trades
Some of the European high yield credit market's riskiest corporate credits are enjoying a strong relief rally, among signals of reprieve from the woes that have beset them in recent weeks

Credit hedge funds (February 2022)
Credit hedge fund returns

Performance dispersion hits index equity correlation
Volatility at the start of the year has intensified moves in iTraxx and CDX index tranches, with traders pointing to growing dispersion in performance among constituents as a theme that will bring more focus on equity correlation in 2022

Credit Rendezvous: the upside of inflation
It is clear, inflation is not transitory and central banks are acting with several interest rate hikes likely in store for the US this year. That makes loans and CLO debt tranches attractive, but there could be opportunities beyond these floating rate assets