Ellington’s well-timed strategy shift to CLOs
First-loss risk prompts Ellington's migration to the mezzanine level, although some secondary-market equity gets thumbs up.
By
John Hintze
Investments
Logan: Fed’s open market activities should be centrally cleared
Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
Jupiter fund cut Treasuries to zero as inflation risks rise
Signs of "overheating" in the U.S. economy mean interest-rate hikes are more likely there than in Europe, dimming the appeal of Treasuries.
Treasury two-year yield near 2026 high in global bond selloff
That short-term yield, which closely tracks expectations for the Federal Reserve's monetary policy, rose as much as five basis points to 4.23%.
Hedge fund veterans are accelerating a major shift in development finance
Newmarket Capital, an alternative asset manager launched six years ago, is actively engaged in facilitating structured finance solutions for multilateral development banks.
Treasuries gain as weak jobs report dims Fed rate-hike bets
The yield on two-year Treasuries, which is the most sensitive to changes in monetary policy, fell 6 basis points to 4.11%, while the 10-year yield declined 2 basis points to 4.46%.
Reckoner to launch risk retention financing for securitizations
Nearwater Capital alums join competitors to service the financing industry niche, which will include CLOs sold to European investors.
By
John Hintze
Bond heavyweights target market sweet spot for new Warsh era
From Capital Group to Insight Investment, Natixis and Pacific Investment Management Co., the message is the same: The sweet spot is the "belly," or the five-year area of the Treasury curve.
Hedge fund Polar to sell mortgage bonds as lending gap grows
The strategy marks a new direction for Polar, which has historically invested in Canadian residential mortgage-backed bonds but has expanded into home lending and securitization.
Treasuries gain before auctions as traders trim rate hike bets
Falling oil prices also ease pressure on the Fed to raise interest rates to fight inflation. Swap contracts priced in slightly lower chances of more than one hike in the next year.
Multifamily homes drive ACRE Credit’s $893 million CLO
All the loans are interest-only during both their initial and extension terms, but third-party secured overnight financing rate (SOFR) cap agreements provide interest rate protection.
Brookfield-backed data center firm Csquare files for U.S. IPO
The IPO comes on the heels of several listings by companies seeking to benefit from the rapid growth of AI.
US bonds rally as traders trim Fed rate-hike bets on Iran deal
The moves on Monday pushed yields lower on most tenors, led by shorter maturities that are among the most sensitive to changes in monetary policy.
Octagon’s Law: The 2026 CLO market is strong despite volatility
The construction and building sector raises the most concern, but issues should remain manageable.
By
John Hintze
Fed to maintain reserve management purchases at $10 billion
The New York Fed's open markets desk plans to conduct the reserve management purchases over the monthly period ending July 13 and conduct about $16.5 billion in reinvestment purchases over the same time.
Here are the key takeaways from the US CPI report for May
Inflation accelerated again in May as the Iran war pushed up energy prices, outpacing wages for a second straight month. The consumer price index climbed 4.2% from a year earlier.
Fed faces rising rate hike expectations, Schwab Center’s Martin says
The catalysts for higher rates are strengthening even as President Donald Trump renews his calls for looser monetary policy on the eve of the first Fed policy meeting led by new Chairman Kevin Warsh.
Thomas Hansen joins Canyon Partners as partner
Hansen will oversee all the firm's finance and operations.
Treasuries pare gains after jobs openings back rate-hike view
Yields rebounded, trimming declines of two to three basis points across maturities, after the US Bureau of Labor Statistics' Job Openings and Labor Turnover Survey for April.
Bond trader bets on Fed hike poised for gut check from jobs data
Beyond developments in the Middle East, a big focus will be Friday's release of monthly employment figures, which are projected to show the labor market remained resilient in May.
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