USD CLO AAA

Only $27m of flow today, CLO spreads unchanged, US LSTA 100 Index continues to tighten +4bp dod.  AAA Index unchanged 135dm.

USD CLO Mezz/Equity

A flurry of non benchmark trades across mezz, post reinvestment, high coupon, low MVOC profiles and no changes in spreads to note.

EUR AAA CLO

AAAs are steady today. ADAGI V-X ARR and CGMSE 2019-2A A1R have traded at the wider end (around 120 dm) due to their lower MVOCs but overall spreads are around 105 dm.

USD CLO AAA

$32m of flow today, spreads unchanged, only single-As widening a touch, US LSTA 100 Index bounces +11bp on last CLO trading day.  AAA trade 115dm-172dm non benchmarks (post RPE and high coupon profiles) - AAA index 135dm.

USD CLO Mezz/Equity

A flurry of non benchmark trades across the stack with single-A Index widening slightly to 227dm (+6dm).

EUR AAA CLO

AAAs look like they are still widening. Trading at around 118 dm today.

EUR AAA CLO

Secondary AAAs still look to be trading down to us. Spreads today are around +123.

EUR AAA CLO

AAAs look softer to us at around 106 dm today.

EUR AAA CLO

AAAs are steady at around 100 dm.

USD CLO Mezz/Equity

Month end so flows are subdued, $22m of mezz notional trading with BBB and BB non benchmark bonds and US LSTA 100 Index +3bp dod, our indices finish the month AAA 135dm, AA 194dm, A 221dm, BBB 330dm, BB 626dm and B 842dm.

USD CLO AAA

$220m of supply going into month end yesterday, US LSTA 100 Index continues to grind tighter, +14bp on last Thu close whilst CLO spreads generally stable.  AAA trade 117dm-155dm for 1st pays with benchmarks 132dm-143dm (AAA Index 136dm).

USD CLO Mezz/Equity

Most of flow in mid mezz A and BBB bonds but few benchmarks to note, Single-As trade 231dm-279dm with the Index unchanged 222dm and BBB trade 307dm-416dm with no benchmarks and BBB Index unchanged 329dm with an array of profiles trading.

USD CLO AAA

$137m of flow today, US LSTA 100 Index -2bp dod and lower mezz spreads tighter on the day.  AAA trade 143dm-155dm non benchmarks and AAA Index unchanged 137dm.

USD CLO Mezz/Equity

Single-As trade 205dm-311dm with benchmarks 205dm-240dm (Single-A Index 222dm), BBBs trade 307dm-477dm with benchmarks 324dm-338dm (BBB Index 329dm), BBs trade 570dm-732dm with benchmarks 630dm-644dm (BB Index 626dm).

EUR AAA CLO

AAAs are steady at around 99 dm.

USD CLO AAA

$127m of flow today, with BB spreads continuing to remain the most volatile band, US LSTA 100 Index -2bp dod.  AAA trade 145dm-197dm given a variety of high coupon, MM CLO and 2nd pay profiles all non benchmarks.

USD CLO Mezz/Equity

Single-A trade 232dm-247dm, slightly wide to our single-A Index 223dm, BBB trade wide of the index given high coupon / MM CLO profiles whilst BB trade 628dm-713dm with 1 x benchmark trade BABSN 2019-4A ER cover 101.12 at 628dm / 9.9y WAL - EoRP 2029, coupon +640bps, MVOC 105.9 and managed by Barings (BB Index 641dm).

EUR AAA CLO

AAAs are steady at around 104 dm.

USD CLO AAA

$118m of flow today, some rebalancing of A and BB spreads wider, US LSTA 100 Index +11bp on last CLO trading day 18th, AAA trade 132dm-141dm (AAA Index 137dm).

USD CLO Mezz/Equity

Single-As trade 206dm-288dm with benchmarks 218dm-224dm with our Single-A Index now 223dm.  Plenty of BB flow, with one notable benchmark OCP 2024-32A E cover 102a at 647dm / 9.6y WAL - EoRP 2029, Onex managed, MVOC 107.6 and clean credit metrics, our BB Index 647dm.

USD CLO AAA

$90m of flow, with mezz tighter (A-BB) and US LSTA 100 Index +3bp dod.  AAA trading is non benchmark high coupon bond profiles 148dm-164dm (AAA Index 138dm).

USD CLO Mezz/Equity

Single-A down to BB trades are generally tighter, with our Single-A Index now 217dm (trading activity today 204dm-215dm in benchmarks).  Our BBB Index now 329dm and BB now 625dm.

EUR AAA CLO

AAAs are steady at around 120 dm. Primary is at +130.

USD CLO AAA

$43m of flow, few benchmarks and CLO spreads flat on the day, US LSTA 100 Index +6bp dod.  AAA trading in non benchmark post reinvestment or MM names, MM CLOs trade 172dm-176dm.

USD CLO Mezz/Equity

BB saw a little flow with benchmarks 632dm-640dm either side of our BB Index 633dm, CGMS 2021-1A D covers 100.05 at 632dm / 6.6y WAL - EoRP 2026, MVOC 105.7, coupon +600bps, clean credit and Carlyle the manager.

EUR AAA CLO

AAAs are steady at around 117 dm.

USD CLO AAA

More flow today, $64m by notional, CLO spreads broadly flat with a few benchmarks trading near our index level.  AAA from weaker managers trade 146dm-153dm (in reinvestment) with our AAA Index 138dm.

USD CLO Mezz/Equity

AA, BBB and BB flow with spreads largely unchanged, 2 x BB benchmarks 640dm-642dm (BB Index 634dm) AGL 2022-17A E covers 100.1 at 640dm / 7.4y WAL - EoRP 2027, MVOC 105.8, coupon +635 and AGL is the manager, note ADR is slightly elevated 1.13 and MVOC is at the lower end of benchmarks explaining the slight basis to the index.

EUR AAA CLO

AAAs are steady at around 118 dm.

USD CLO Mezz/Equity

Little in the way of flow eith $31m of mezz trafding with CLO spreads unchanged, US LSTA 100 Index +6bp dod.  2 x AA and 2 x BB trade today with one benchmark of note BROOKP 2024-1A B1 covers 100.79 at 194dm / 7.9y WAL right on our AA Index 195dm with Blackstone the manager, EoRP 2026, MVOC 130 and very clean credit metrics.

USD CLO Mezz/Equity

Only 4 x small mezz clips with $27m of notional trading, US LSTA 100 Index +4bp dod and CLO spreads flat.  Bonds are all post reinvestment with no adjustment to the Single-A / BBB index.

USD CLO AAA

$76m of flow, some rebalancing of spreads at BBB and BB today, IG spreads flat. US LSTA 100 Index +10bp.  AAA trade 109dm-147dm with no benchmarks (AAA Index 138dm).

USD CLO Mezz/Equity

All the flow is in BBB and BB today, A few benchmarks trade at BBB in a 340dm-344dm range (BBB Index 341dm) whilst BB Index rebalances to 634dm.

EUR AAA CLO

High margin AAAs have traded around +157 in secondary.