USD CLO AAA

$111m of flow, US LSTA 100 Index +9bp dod, some tightening in mezz.  AAA trade 131dm-140dm (AAA Index 125dm).

USD CLO Mezz/Equity

Very little in the flow of benchmark mezz, with most of the low in BB post reinvestment / low MVOC profiles (BB Index 608dm).

USD CLO AAA

$135m of flow today, with some tightening in lower mezz.  AAA trade 129dm-172dm with the tighter end trading near our AAA Index 125dm.

USD CLO Mezz/Equity

Plenty of flow in non benchmarks for A and BB, Single-As trade 146dm-233dm (Single-A Index 195dm) and BBs trade 343dm-1081dm (BB Index 610dm) with flows predominantly non benchmarks (post reinvestment, low coupon, low MVOC profiles).

USD CLO AAA

$126m of flow today, slight tightening in SubIG whilst US LSTA 100 Index +5bp dod.  AAA trade 93dm-136dm with one benchmark OAKC 2020-7A A1R2 cover 100.22 at 129dm / 6.6y WL - EoRP 2030, Ok Hill managed, MVOC 152 and coupon +128bps (AAA Index 126dm).

USD CLO Mezz/Equity

Plenty of flow of BB with few benchmarks, BB Index now 612dm, some higher grade mezz flow including Single-As which trade 193-267dm with a benchmark at the tight end - ELM10 2021-3A CR2 covers 100.46 at 193dm / 8.9y WL - EoRP 2030, Elmwood managed, MVOC 117.6 and coupon +195bps (Single-A Index 195dm).

USD CLO Mezz/Equity

$31m of flow in AA and A mostly non benchmarks tody, US LSTA 100 Index 100 +17bp on last CLO trading day.  AA and A Indexes unchanged 168dm and 196dm respectively.

USD CLO AAA

$122m of flow with further reblancing of spreads, most of significant notional is in AAA and AA bonds, US LSTA 100 Index +8bp dod.

USD CLO Mezz/Equity

In mezz BBB and BB bonds trade, BBB trading range 302dm-578dm with benchmarks 302dm-304dm (BBB Index 299dm) whilst at BB there is one benchmark MIDO 2024-15A E cover 100.88 at 615dm / 8.9y WAL (EoRP 2029) - MVOC 106.6, coupon +625bps, MidOcean managed.

USD CLO AAA

$133m of flow cross the stack with some rebalancing of spreads across mezz tranches, US LSTA 100 Index +6bp dod.  AAA trade 119dm-124dm (AAA Index 126dm) with the wider end of this range benchmark, whilst MCMML 2020-1A AR2 a MM CLO covers 100.45 at 163dm and a 2nd pay AAA NWML 2023-2A A2 covers 100.35 at 212dm. 

USD CLO Mezz/Equity

Single-As trade 178dm-194dm with benchmarks 194dm (Single-A Index 194dm), majority of flow is in BB across 23 trades in a range 481dm-818dm with benchmarks 613dm-623dm (BB Index 611dm).

USD CLO AAA

$76m of flow across the stck with moderate tightening tone, US LSTA 100 Index +15bp on lst CLO trading day pre-long weekend.  AAA trade 120dm-167dm with benchmarks 121dm-127dm (AAA Index 126dm).

USD CLO Mezz/Equity

At the mezz end most of the flow is in AA bonds with a trading range of 150dm-172dm with benchmarks 166dm-172dm (AA Index 168dm).

EUR AAA CLO

There are only two small AAA trades but they do appear wider. Cross Ocean Bosphorus VIII did price wider at +138.

USD CLO AAA
Only $45m of flow today with little movement in spread direction, US LSTA 100 Index +8bp dod.  AAA trade 121dm-132dm (AAA Index 126dm(.

USD CLO Mezz/Equity

Little in the way of activity with non benchmarks trading at AA-BBB levels with Index levels unchanged - AA 169dm, A 194dm, BBB 296dm.

EUR AAA CLO

AAAs unchanged at 117 dm in secondary today.

USD CLO AAA
$84m of flow today with some rebalancing of mid-mezz spreads, US LSTA 100 Index +4bp dod.  2 x non benchmark AAA trade inside the Index level 107dm-110dm, low coupon/WAL profiles.

USD CLO Mezz/Equity

Most of the flow is in BBB with 13 trades 43m notional, trading range 279dm-443dm with one benchmark MIDO 2024-17X D1 cover 100.29 at 300dm / 8.7y WAL - MidOcean managed, EoRP 2030, MVOC 112.2, coupon +300bps (BBB Index 296dm).

EUR AAA CLO

AAAs are a few bps tighter at 102 dm in secondary today.

USD CLO Mezz/Equity

Only $21m of mezz flow today given month end, US LSTA 100 Index +17bp on last CLO trading day last.  Little in the way of meaningful benchmarks with  trickle of bonds from A-BB trading with a continuation of the tightening tone into month end marks.

USD CLO AAA

$143m of flow with $100m in AAA, spreads remain firm.  1st pay AAA trade 125dm-127dm around our AAA Index 126dm.

USD CLO Mezz/Equity

Little in the way of benchmark flow, at BB the trading range is 470dm-825dm with one benchmark GNRT 2024-17A E cover 100.63 at 609dm / 9.2y WAL - EoRP 2029, MVOC 106.2, coupon +615bps and managed by Generate Advisors so a benchmark bond, BB Index 612dm.

USD CLO AAA

$165m of flow today across the stack with very slight tightening effect on CLO spreads, US LSTA 100 Index +9bp dod.  AAA trade 111dm-148dm with benchmarks 125dm (AAA Index 127dm).

USD CLO Mezz/Equity

Very little in the way of benchmark trades today, with some liquidity in non-benchmark AA, A and BB bonds with Index levels a shade tighter but largely unchanged - AA 170dm, A 195dm, BBB 295dm, BB 613dm, B 778dm.

USD CLO AAA

$42m of flow, little movement in spreads with US LSTA 100 Index +14bp dod.  1 x non benchmark AAA ANCHC 2022-25X A1 covers 100.12 at 140dm / 3.4y WAL - EoRP 2027, coupon +139bps, Anchorage managed.  AAA Index 127dm.

USD CLO Mezz/Equity

Little in the way of meaningful flow in mezz, in high grade a couple of benchmarks, at AA BSP 2018-14X BR covers 100.33 at 175dm / 7.4y WAL (EoRP 2029, coupon +175bps, MVOC 117.6) with AA Index 171dm.  Single-As trade 191dm-225dm with the Index level unchanged at 195dm.

USD CLO AAA

$33m of AAA flow only with some slight tightening in spreads, US LSTA 100 Index +7bp on last CLO trading day.  AAA trade 104dm-141dm with benchmarks 116dm-126dm (AAA Index 127dm).

EUR AAA CLO

AAAs have drifted wider in secondary for a second consecutive day. Average secondary spreads, for 2 year ALs, are around 108 dm. The primary market is wider also with Carlyle printing yesterday at 134 / 170 AAA split.

USD CLO Mezz/Equity

$61m of mez trading today, spreads a touch softer in mid-lower mezz, US LSTA 100 Index +2bp dod.  Single-A trade 194dm-235dm with the index 197dm with weaker manager profiles backing up the wider end of this range.  BBB and BB spreads slightly softer with an array of non benchmarks mainly exchangign hands, BBB Index 297dm and BB 616dm.

EUR AAA CLO

AAAs look a couple of bps softer to us. The average secondary spread is 91 dm today.

USD CLO AAA

$62m of flow today, AAA trade 135dm-140dm with profile high coupon (AAA Index 128dm).

USD CLO Mezz/Equity

BBB trade 279dm-505dm (BBB Index 293dm) with high coupon/low MVOC profiles pushing bonds wide of the index.  BB trade 489dm-673dm with all profiles non-benchmarks (low coupon <500bps for the most part) and BB Index 613dm.

EUR AAA CLO

AAA trades today are steady at 99 dm in secondary for short ALs.