Credit PMs remain gloomy in latest IACPM survey
Survey participants in the latest IACPM Credit Outlook Survey believe the euphoria seen in global financial markets during the last few months of 2023 was overdone

November 2023 US Leveraged Highlights
Debtwire today releases the November 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high-yield bond markets

Fund performance
Positive August for credit sees CLO funds on top again

Fund performance
Good month for CLO funds sees six in top 10 as Axiom sets pace

Manager looks to cut HY exposures in CLO-heavy credit interval fund
A credit fund manager has provided a performance update on is multi-strategy closed-end credit fund through regulatory filings, revealing it has beat its benchmark from 1 April to 30 September despite losing 13.66%

So long! US high yield index jumps tighter with roll from old to new series
Credit spreads have retraced tighter on Tuesday, after two days of heavy selling pressure, as investors in US high yield index CDX HY get set for its roll into a new series

CBOs return as Anchorage second deal takes year's tally to three
Anchorage Capital on Wednesday priced the third US CBO of the year, with outflows from the high yield market having prompted CLO and bond-flex CLO managers to step in to try to take advantage of deeply discounted bond prices

Talen bond squeeze brings low auction pay-out for protection holders
A credit event auction to settle Talen Energy Supply CDS has delivered a much higher result than had been predicted from bond prices, fuelled by a bidding squeeze on deliverable paper

Beneath the triple C: CLOs take first knock since covid scrapes
CLO managers have been hit by a number of loan downgrades to triple C for the first time since the wave of pandemic-related cuts trickled to a halt in early 2021. Companies indirectly linked to the health sector suffered most in May 

Ucits at a glance: Robus stands tall among Ucits funds
27% of Ucits funds had positive returns in March, a slight improvement from 10% in February

Fund performance: Credit slumps widely as CLOs lag furthest behind
February’s market turn brought a variety of fund categories into the Creditflux top ten as six different categories were represented -- US high yield standing tallest among them

Credit rally extends as investors welcome hawkish but clearer Fed message
Credit markets have carried their rally over to another day, fuelled in part by what investors have interpreted as a hawkish but clear message from the US Federal Reserve on policy tightening

Euro volatility outpaces US with pivotal hours ahead in Ukraine
Financial markets took another battering on Tuesday, as Russia's war with Ukraine ramped up and western countries moved to enact new sanctions

Post-CPI relief rally gives way to bears as reality bites
A bearish tone has returned to financial markets in the latter part of the week, despite investors seemingly taking in stride the highest US inflation growth numbers for almost 40 years

Ucits at a glance: Robus and Altana dip but stay at the top
In October, Ucits funds continued a slide that had begun the previous month with 60% of them in the red

US leads charge in strong relief rally
Credit markets have entered a relief rally on rising optimism the omicron covid variant will not prove as severe as had been feared

Reality check for credit as omicron research timeline extends
Another dose of harsh reality has sunk into financial markets on Tuesday, as investors continue to reappraise the impact of tightening travel restrictions and the timeline for pharmaceutical work to address the omicron covid-19 variant

Traders hunt for Monday bargains in Black Friday debris
The turmoil of Black Friday has given way to a counter-wise move on Monday, with financial markets latching onto scraps of hope over the weekend following the panic of a newly discovered covid-19 variant

Credit Fundraising: Private credit and CLO captive equity feature strongly as closes mount up
Credit funds have made a fair start to the fourth quarter, although the $21 billion raised during October is down substantially on September’s impressive record for 2021

CLO refi and reset volumes surge with $2.3 billion priced on Friday
CLO refi and reset volumes surged on Friday with $2.3 billion priced across the US market, according to market sources. Brigade Capital Management, MidOcean Credit Partners and New Mountain Capital reset regular-way CLOs, Blackstone Credit scored a regular CLO refi, Sculptor Capital Management refinanced a bond-heavy CLO, and Ivy Hill Asset Management reset a middle market CLO

Investors take deep breath ahead of US jobs report
Credit and equity markets are taking a cautious pause ahead of Friday's much-watched US jobs data, which could provide new context for discussions on central bank support for assets in the coming weeks

2021 CBO refi volume reaches record as CSAM cuts costs on 2019 deal
Credit Suisse Asset Management paired with Citi on Thursday to refinance the mezzanine debt tranches of its 2019 bond-heavy CLO named One Eleven Funding III

It's all relative: CLO spreads explore record tights as credit indices hit impasse
CLO spreads are grinding to ever tighter levels, despite a flattish week for credit in which corporate credit indices have ended up more or less unchanged

It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018

Beneath the triple C: 13 CLO loans take a dive but defaults subside to a ripple
22 corporate debt issuers were downgraded to triple C or below in November and December by Moody’s or S&P, out of which 13 can be found in CLO portfolios  – hurting $4.55 billion of US CLO loans, €1.87 billion of European CLO portfolios and almost $80 million of middle market CLOs loans, according to CLO-i