Investments

Higher charges for BB bonds would only marginally impact CLO market.

Tighter spreads are expected as floating-rate demand continues.

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.

Offshoot of well-known European asset manager taps JP Morgan to structure deal

Fitch describes the Goldman-arranged CLO as similar to Blackstone's Lewey Park CLO, which closed last month.

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.

The "greenium" spread is not economically feasible for bond issuers anymore, T. Rowe Price's Matt Lawton said.

Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates.

The rally left yields lower by at least three basis points, with short maturities — more sensitive to Fed policy changes — falling the most.

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.

The market retraced an opening selloff, with longer-dated benchmarks outperforming the front end.

Amid challenging times for loans in CLOs, Sculptor Capital Management sees refi and reset surge likely to continue well into 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.

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.

Tuesday's declines lifted yields by one to four basis points across maturities after Trump said he'd impose additional 10% tariffs on goods from China and 25% tariffs on all products from Mexico and Canada.

Donald Trump's presidential victory, stubbornly elevated inflation and a steady drumbeat of strong economic data have pushed 10-year Treasury yields up sharply since mid-September.

Yield-hungry insurers, banks and exchange-traded funds fueled demand this year while a wave of redemptions crimped net supply.

Investors bought 15.9% of U.S. homes sold in Q3, according to Redfin, a level similar to 2018 and 2019, when the share was around 14%.

Yields on 30-year bonds rose as much as 6 basis points to 4.68%, a level last seen at the end of May.

The benchmark 10-year Treasury yield topped 4.5% for the first time since May after the release of retail sales data including hefty upward revisions.