Investments

The move was led by the two-year yield, which at one point fell nearly 8 basis points below 4.69% — short of last week's low 4.65%.

KKR is buying CCC loans as they are "purged" from fund managers with less risk appetite. Since so much demand has been sucked out of the market, Sheldon and Reback said they believe some parts of the CCC markets are "oversold."

The $39 billion 10-year note sale was awarded at 4.438%, compared with a yield of 4.458% in pre-auction trading at 1 p.m. New York time, the bidding deadline.

Much of that growth appears to have happened since the beginning of the year. JAAA's AUM was $5.3 billion at the end of 2023, suggesting a 94% increase.

Treasury yields surged across the curve on Friday, while traders — as well as economists at JPMorgan Chase & Co. and Citigroup Inc. — pushed out their expectations for the Fed's first rate reduction.

As the inflation reduction campaign has miles to go, banks considering credit risk transfers referencing commercial real estate could find enthusiastic investors.

Compared to a year ago, investors bought a greater number of properties and made up a larger share of overall purchases, returning to the market faster than individual buyers, according to Redfin.

The Japanese banking giant's sub foresees vibrant 2024 and expanding CLO interest from Asian investors.

Macro, credit and securitized products and equities will each contribute 25% to 30% of the growth, with the remaining 15% coming from wealth management.

The top five issuers in the pool represent 4.73% of the pool, which is noticeably more diversified compared with the 12.50% concentration, according to Fitch's stressed portfolio at initial expected matrix point.