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.
Investments
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.
NAIC’s preliminary RBC models favor higher rated CLOs
Higher charges for BB bonds would only marginally impact CLO market.
By
John Hintze
CLO managers add to 2024 refinancing trend
Tighter spreads are expected as floating-rate demand continues.
By
John Hintze
Three deals help wrap up strong year for PLS
Nonagency issuances are expected to increase 85% for this year over 2023, and rise another 36% in 2025, the second best since the financial crisis.
Permira’s US affiliate launches 1st CLO
Offshoot of well-known European asset manager taps JP Morgan to structure deal
By
John Hintze
Blackstone launches Riverbank Park CLO with sizable unrated portion
Fitch describes the Goldman-arranged CLO as similar to Blackstone's Lewey Park CLO, which closed last month.
By
John Hintze
Private credit should trade at premium, Franklin’s Johnson says
Franklin Templeton Investments Chief Executive Officer Jenny Johnson said she's concerned that some investment- and non-investment-grade private credit assets are trading at the same spreads as traditional fixed-income investments like corporate bonds.
T. Rowe says green bonds are becoming less appealing for US issuers
The "greenium" spread is not economically feasible for bond issuers anymore, T. Rowe Price's Matt Lawton said.
Tariffs spell end to rate cuts
Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates.
By
Scott Sowers
Bonds rally as weak U.S. services gauge bolsters rate-cut outlook
The rally left yields lower by at least three basis points, with short maturities — more sensitive to Fed policy changes — falling the most.
BlackRock buys credit firm HPS in $12 billion all-stock deal
HPS founders Scott Kapnick, Scot French and Michael Patterson will lead a new private financing solutions business unit with BlackRock as the company seeks to offer the full range of public fixed-income and alternative credit funds.
Treasuries slip as market braces for big data week, Fed speakers
The market retraced an opening selloff, with longer-dated benchmarks outperforming the front end.
Sculptor Capital: Large-scale coops may reduce lender warfare
Amid challenging times for loans in CLOs, Sculptor Capital Management sees refi and reset surge likely to continue well into 2025.
By
John Hintze
Adani Green’s dollar bond may be revived by mid-2025
The renewables firm also plans to raise as much as $500 million by February via banks or a private placement in the offshore market.
Roubini backs popular bond bet to hedge Trump-fueled price shock
The economist, who runs Roubini Macro Associates, is positioning for a curve steepener, a popular Treasuries trade where the gap between long- and short-dated yields widens.
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