U.S. Treasury yields test 5% as traders push out Fed rate cuts
U.S. Treasuries plunged on Friday after data showed the labor market grew in December, sending the 30-year bond's yield above 5% for the first time in more than a year.
Investments
Janus Henderson takes CLO-tracking fund to Europe after U.S. win
The fund's managers are hoping to replicate the success of their US-focused ETF, which has amassed $17.2 billion in assets under management in less than five years.
Multifamily properties secure $876 million CRE CLO from ACREC
Classes A through E, do not allow for payment-in-kind, which allows borrowers to use assets other than cash—such as equity or shares—to make interest payments.
Global bond selloff leaves U.S. Treasury yields flirting with 5%
In the US, the 10-year Treasury yield rose as high as 4.73% Wednesday, pushing it toward the 5% peak hit in October 2023, before pulling back down.
JPMorgan shakes up CLO group after banking trio left for SMBC
The bank has promoted Steve Baker to global head of CLO primary. George Blair will become head of US CLO structuring.
JPMorgan becomes the last big U.S. bank to quit climate-banking group
The banking giant's exit from the global Net-Zero Banking Alliance leaves just three smaller U.S. banks in the group. Climate activists called large banks' departures a capitulation to Republicans' climate denialism.
U.S. yields hit 14-month high amid auctions, tariff speculation
It was propelled in part by supply pressure, as demand was soft for the first of three Treasury auctions this week and as a slew of high-grade corporate bond offerings competed for investor cash.
Spike in failed trades shows persistent 20-year U.S. bond shortage
Uncompleted trades involving the 20-year Treasury exceeded $21 billion in the week ended December 25 … the second-highest amount in the history of the tenor.
Inflation uncertainty benefits CLO market
CLO market strength likely to continue in 2025 if the U.S. economic soft landing remains on track.
By
John Hintze
Morgan Stanley is latest to leave climate-banking group
Bank of America, Citigroup, Wells Fargo and Goldman Sachs have also withdrawn from the Net-Zero Banking Alliance in the past month, as President-elect Donald Trump prepares to take office.
More European middle-market CLOs likely in 2025
Overall CLO growth indicates the asset going mainstream in Europe
By
John Hintze
Treasuries see hoped-for rally fizzle into another lagging year
The overall price drop was offset by interest payments, allowing a broad gauge of the Treasury market to post a gain of about 0.7% this year through Dec. 30.
US Treasury says it was breached by Chinese-backed hackers
Treasury was notified on Dec. 8 by a third-party software provider that a hacker had gained access "to a key used by the vendor to secure a cloud-based service."
Treasuries extend rally as yields retreat from last week’s peaks
Treasury yields remain near the upper end of their trading range for this year given the limited outlook for further interest rate cuts, along with concerns that rates will remain elevated because of the potentially inflationary policies being proposed by President-elect Donald Trump.
Treasuries trade mixed, with 30-year yield near 2024 highs
Investors have been demanding additional yield compensation, or term premium, for long-term Treasuries amid signs of sticky inflation.
Outlook 2025: What will the FOMC do?
Analysts are unsure what the Federal Open Market Committee will do with monetary policy in 2025. The panel projects two rate cuts, but some analysts expect more, and others see fewer.
Nuveen enters busy CLO ETF market with single A focus
The overlooked segment offers a premium over AAAs backed by significant subordination, the firm says.
By
John Hintze
UMB inks first CLO deal as trustee
The $300 million offering marks private-market-specialist StepStone's inaugural middle market CLO.
By
John Hintze
Northwestern Mutual refinances two-year-old CLO
Deal finds lower pricing and adds a new class of AAA notes.
By
John Hintze
MidOcean raises $304 million for debut CLO equity fund
The fund will invest in the riskiest tranches of bonds backed by leveraged loans.
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