Investments

The $1 billion deal included classes A-L-A and A-L-B were offered as loans.

The movements were spurred by jitters around persistent inflation and ballooning government debt, leading futures traders to wager that the Fed is unlikely to ease monetary policy again until late 2025.

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.

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.

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.

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.

The bank has promoted Steve Baker to global head of CLO primary. George Blair will become head of US CLO structuring.

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.

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.

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.