Investments

In the proposal, NAIC argues that an insurer purchasing every tranche of a CLO holds the same investment risk as purchasing the entire pool of loans backing the CLO.

The Ohio bank, which has been releasing more information about its Scope 3 emissions, promised to take steps with customers and suppliers to reduce their collective impact on climate change.

The yield on the two-year Treasury moved to be as much as 32 basis points higher than the 10-year yield, which slid in the wake of the Fed’s announcement that it was raising its overnight benchmark by 75 basis points.

The deal has a $40 million subordinated portion that compares to the $497 million Dryden 108 CLO Ltd., which has a much larger ‘AAA’-rated class A-1 portion.

Natixis’s co-head of structured credit and credit trading has left the bank to join New York-based private equity shop Blue Owl Capital, as the firm seeks to step up its efforts in the collateralized loan obligation market.

Three weeks before the American Dream super-mall is due to pay debt backed by New Jersey economic development grants, the state hasn’t approved a key document needed to release the cash, raising the risk bondholders won’t get their money.

Mizuho Securities’ head structurer of collateralized loan obligations has joined New York-based private equity firm Blue Owl Capital as it makes a push into the broadly syndicated CLO industry. 

Pushes for transparency on charitable donations and ghost guns, among others, were voted down.

Citigroup and Bank of America have teamed up with five other banks to form Octaura Holdings, an electronic trading platform for syndicated loans and collateralized loan obligations.

The evidence of the Fed’s loss of control has multiplied uncomfortably in recent weeks. For its sake and that of both the domestic and global economy, the central bank desperately needs to regain control of the inflation narrative.

The Neuberger Berman pool has an average credit quality of ‘B’ on the indicative portfolio, which indicates a highly speculative credit quality.

On average, CLOs had a default exposure of 0.1% at the end of May, according to the latest update from Fitch Ratings.

Over the next three decades it will cost about $100 trillion to meet net-zero emissions goals, not to mention the funds needed to address other environmental and social problems.

It all threatens to add a fresh twist for Treasury investors, who are already grappling with haywire moves and near double-digit losses with few precedents in the modern trading era.

A consensus has formed that the Federal Reserve waited too long to start tightening money. Fed watchers are still disagreeing about another question: Is the central bank tightening too much and too fast now?

US Treasuries extended losses and stock futures remained down as investors considered how a better-than-expected US jobs report might impact the pace of Federal Reserve policy tightening.

Investors are on edge over whether the US central bank’s tighter policies will induce a recession. A chorus of Fed officials has fallen behind calls to keep hiking to counter price pressures.

Concerns that central-bank rate hikes may induce a recession are keeping investors guessing about the outlook for the economy as rising food and energy costs squeeze consumers, and volatility has picked up.

Yields have jumped so much this year, roughly doubling those on 10-year Treasuries, that it recalls past buying opportunities that paid off when the tide turned.

The yield jumped as much as three basis points to 3.11%, extending an advance that has seen the rate more than double this year.