Market Commentaries
select * from bbg_commentary where 1=1 order by date desc
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23 July 2026
USD CLO Mezz/Equity
$63m of flow, modtly in BBs, spreads flat, US LSTA 100 Index -2bp dod. BB trade 477dm-807dm with benchmarks 615dm-634dm with the BB Index 625dm.
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22 July 2026
USD CLO Mezz/Equity
$51m of flow with spreads flat, US LSTA 100 Index -1bp dod. 1 x AA non benchmark and a stack of BB non benchmark profiles (high coupon/low MVOC) trade today with no change in spread direction.
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21 July 2026
USD CLO AAA
$98m of flow, spreads remain flat/firm, US LSTA 100 Index +2bp dod. 1 x non benchmark AAA trade cover 125dm (low MVOC/higher coupon profile vs AAA Index 121dm).
USD CLO Mezz/Equity
Most of the flow is in BBB names, trading range 260dm-360dm with 1 x benchmark PLMRS 2021-1A C1R cover 302dm / 7.8y WAL - MVOC under benchmark 107.6 but coupon profile is low +270bps so balances out, ADR is low (BBB Index 301dm).
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20 July 2026
USD CLO AAA
$27m of flow today in 3 trades with little movement in spread direction. US LSTA 100 Index +5bp dod. 1 x AAA trade today MAGNE 2020-26A AR2 covers 118dm / 5y WAL - MVOC 151.7, coupon +115bps and clean metrics with an excellent manager profile trading inside our AAA Index 121dm.
USD CLO Mezz/Equity
2 x AA trades in a 152dm-161dm range (AA Index 161dm) with one benchmark BSP 2024-36A B cover 161dm / 6.5y WAL (EoRP 2030, MVOC 127, coupon +165bps and 0 ADR).
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17 July 2026
USD CLO Mezz/Equity
2 x non benchmark single-A trades today (A Index 186dm) whilst US LSTA 100 Index +13bp dod.
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15 July 2026
USD CLO Mezz/Equity
$121m of flow today, spreads remain flat. US LSTA 100 Index +3bp dod. BBB and BB non benchmark trades today only.
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14 July 2026
USD CLO AAA
$202m of flow today, spreads marginally firmer. US LSTA 100 Index is up 15bp in almost a week. AAA trade 90dm-134dm with few benchmarks.
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9 July 2026
USD CLO AAA
$54m of flow today with spreads continuing to tighten, US LSTA 100 Index +5bp dod. AAA trades all non-benchmarks, AAA Index 121dm.
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8 July 2026
USD CLO AAA
$142m of debt flow today, spreads tighter. US LSTA 100 Index +4bp dod. 1 x 2nd pay post-reinvestment AAA trades +157dm. AAA 1st Pay Index 122dm.
USD CLO Mezz/Equity
$56m of AA flow, trading range 143dm-209dm with benchmarks trading 163dm (AA Index 162dm).
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7 July 2026
USD CLO AAA
$166m of flow today, US LSTA 100 Index +42bp on last CLO trading day. AAA trade 124dm-126dm (AAA Index 122dm).
USD CLO Mezz/Equity
Patchy mezz flow, AAs trade 154dm-179dm with benchmarks 162dm-163dm (AA Index 164dm).
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1 July 2026
USD CLO AAA
$92m of flow today, spreads flat, US LSTA 100 Index +18bp dod. AAA trade 124dm-130dm with benchmarks trading at the tight end of this range (AAA Index 123dm).
USD CLO Mezz/Equity
Only 2 x non benchmark BB trades, trading range 533dm-646dm (BB Index 632dm), the profiles are low coupon/weaker manager for the 2 bonds tht trade either side of the Index.
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25 June 2026
USD CLO AAA
$311m of flow, spreads broadly flat dod. US LSTA 100 Index continues to fall, -8bp dod. AAA trade 115dm-128dm with benchmarks 124dm-126dm (AAA Index 123dm).
USD CLO Mezz/Equity
AA benchmarks trade 166dm-167dm (AA Index 164dm) whilst at the BBB end the trading range is 291dm-331dm with benchmarks 313dm-320dm (BBB Index 308dm).
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24 June 2026
USD CLO AAA
$85m of flow, spreads flat/softer tone, US LSTA 100 Index -9bp dod. AAA trade 109dm-145dm with benchmarks 122dm-125dm (AAA Index 122dm).USD CLO Mezz/Equity
All flow in mezz BBs with non benchmarks dominating, trading range 540dm-710dm with low coupon profiles driving dms inside the index and low MVOC driving a couple of trades widde of the index, no benchmarks to note. BB Index 630dm.
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23 June 2026
USD CLO AAA
$260m of flow, US LSTA 100 Index -20bp dod. AAA trade 120dm-130dm with benchmarks 120dm-124dm (AAA Index 122dm). Spread tone is flat.
USD CLO Mezz/Equity
Mjority of flow in BBB bonds with 58m exchanging hands, trading range 268dm-361dm with benchmarks 303dm-309dm with our BBB Index widening slightly to 306dm.
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22 June 2026
USD CLO AAA
$59m of flow today, tone is flat/soft. US LSTA 100 Index +3bp on Thursday close. AAA trade 106dm-153dm with benchmarks 122dm-126dm (AAA Index 121dm).
USD CLO Mezz/Equity
Majority of mezz flow in BBB, with a tradign raange 287dm-329dm with benchmarks 308dm-317dm (BBB Index 305dm).
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18 June 2026
USD CLO AAA
$134m of flow, tightening tone. US LSTA 100 Index +34bp WoW. AAA trade 121dm-155dm with benchmarks 125dm area (AAA Index 121dm).
USD CLO Mezz/Equity
Limited flow in mezz benchmarks, note at the AA end one clean benchmark CLVR 2021-3A BR covers 153dm / 3.7y WAL - EoRP 2027, MVOC 124, ADR 0.4, coupon +145bps (AA Index 162dm).
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11 June 2026
USD CLO Mezz/Equity
$39m of flowwith a softer feel, US LSTA 100 Index -44bp WoW. BBB trade 287dm-309dm with BBB Index 305dm.
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4 June 2026
USD CLO AAA
$123m of flow today, firmer tone on spreads. US LSTA 100 Index -1bp dod. AAA trades are all non benchmarks and trade 130dm-138dm (AAA Index 121dm).
USD CLO Mezz/Equity
BBB and BB had the most significant flow, BBBs trade 272dm-447dm with one benchmark BATLN 2025-28A D1 covers 307dm / 7.7y WAL - Brigade managed, EoRP 2030, MVOC 110.5, coupon +305bps and ADR 0.1, BBB Index 303dm.
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3 June 2026
USD CLO Mezz/Equity
3 x non benchmark debt trades today, no movement in spread direction. US LSTA 100 Index -2bp dod.
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2 June 2026
USD CLO AAA
$21m of flow, spreads firmer. US LSTA 100 Index +3bp dod. AAA trade 123dm-124dm (AAA Index 121dm).
USD CLO Mezz/Equity
1 x benchmark BBB trade today WINDR 2021-3A D1AR cover 307dm / 8y WAL - First Eagle managed, EoRP 2030, MVOC 109.8, ADR 0.56 and coupon +300bps (BBB Index 303dm).
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1 June 2026
USD CLO AAA
$50m of flow with little movement in spread direction, US LSTA 100 Index +4bp dod. AAA trade 99dm-125dm with benchmarks 122dm-125dm (AAA Index 122dm).