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Falling correlation reignites passion for index tranche trades
5 years ago
Dispersion in the global corporate credit market is rekindling interest in correlation trading, with dealer sources reporting that a late surge lifted 2019 index tranche volumes to $250 billion. -
Rising idiosyncratic risk leads to calls for high yield index tranche fix from traders
5 years ago
As sources of funding dry up for the weakest borrowers in the credit market, some correlation traders are calling for an overhaul of CDX NA HY index tranches to make trades on wide-end dispersion more effective. -
Five-year bespokes movement leads to managed CSO talks
5 years ago
Longer dated synthetic bespoke tranche business could soon receive new impetus, with dealers and investors ramping up talks about re-establishing managed portfolios as a common feature of the CSO market. -
Index tranche levels spike as investors advance into equity
6 years ago
Trading of credit index tranches is picking up, with some $61 billion worth changing hands in the space during the first quarter, according to data from the Depository Trust & Clearing Corporation -
Bespoke gains pull CLO buyers as market tipped to hit $100bn
6 years ago
Synthetic bespoke issuance could catch up with the more visible CLO market this year, say structured credit specialists -
Spanish bank prices €972 million SRT with triple As paying 31bp
6 years ago
Cajamar Caja Rural, based in southern Spain, has priced a €972.1 million significant risk transfer (SRT), according to market sources -
African Development Bank prices landmark $1 billion SRT
6 years ago
The market for significant risk transfer (SRT) deals has taken another step forward with a first-of-its-kind deal, which has been originated by the African Development Bank
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