Investments

Quantitative tightening has helped to keep mortgage rates elevated, but new concerns over how it impacts market liquidity could lead the Fed to end the program.

FS grew its CLO business and now manages four CLOs totaling $1.4 billion. The manager's risk-averse growth avoids complications that are still unfolding liability management exercises.

Goldman Sachs Group Inc.'s Luke Gillam and Bank of America Corp.'s Murad Khaled, set to join AlbaCore Capital and Apollo Global Management, are the latest in a growing list of top bankers to make the leap.

Five-year notes were the worst performer among Treasury benchmarks, with yields rising by more than 5 basis points, though all rose by at least 4 basis points.

There's been a marked change in trading volume over the past four years at that time as well as a drop in transaction costs that coincide with the growth of passive funds that track index changes.

In recent weeks, the firm has told structured credit investors that it will be able to soon facilitate secondary trades under the name Atlas SP Securities, a division of Apollo Global Securities.

The team will report to Vincent Pham as UMB Bank enhances its capabilities in CLO trustee and loan administration services.

An application for the BondBloxx Private Credit CLO ETF landed with regulators on Thursday afternoon. Subject to regulatory approval, the proposed fund would invest at least 80% of its assets in collateralized loan obligations.

The Kansas City-based firm created the ETFs in response to demand from clients, in particular the wealth management community.

Chatham will provide funding for the equity portion of CLOs, according to a person with knowledge of the matter. CTM will start issuing CLOs — leveraged loans repackaged as bonds — in 2025.

As corporate treasurers use the debt reorganization technique to head off disruptive defaults and bankruptcies, lenders seek more blockers and cooperation agreements to mitigate risks.

First-half net trading revenue rose 81% to $4.9 billion from the same period a year earlier at Citadel Securities, and gained 78% to $8.4 billion at Jane Street.

First-half net trading revenue rose 81% to $4.9 billion from the same period a year earlier at Citadel Securities, and gained 78% to $8.4 billion at Jane Street.

Observers and investors weigh in on how rate cuts may shift pricing dynamics for CLO tranches.

Treasuries have returned 1.7% this month through Aug. 28, on pace for a fourth straight monthly gain, according to the Bloomberg US Treasury Total Return Index.

Canadian asset-backed commercial paper issuers eye chance to narrow massive financing gap created by the CDOR benchmark cessation.

In the run-up to Powell's Jackson Hole speech, Treasuries tumbled across the US curve, with the move led by shorter maturities.

"Fed watchers will be parsing Powell's comments for signs that a 50bp rate cut is on the table for September," noted Lauren Saidel-Baker, an economist with ITR Economics. "However, the notoriously tight-lipped chair is unlikely to confirm this, making a 25bp cut the most likely outcome."

The fund, Sound Point Meridian Capital, invests in CLO equity. Fewer than 10 of these closed-end funds trade now, partly because starting one requires a backer willing to leave the money invested for years.

The company is selling bonds in five parts, and the longest portion of the deal, a 40-year note, will yield 1 percentage point above Treasuries.