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Leveraged buyout activity has been strong and is getting stronger, giving portfolio managers headaches as they deal with changing credit profiles and investments that suddenly look different than what they thought they were getting.

RockView Management's RockView Partners is shorting the bonds of movie rental giant Blockbuster as the company wrestles with dropping revenue.

The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week.

--John Redding, v.p. and portfolio manager at Eaton Vance, regarding the firm opening a London office.

BlueBay Asset Management, a U.K.-based credit fund manager with USD3.5 billion in assets under management, is adding another long/short fund to its suite of absolute return funds.

Maria Del Mar De Fez Laso, a fund derivative official at BNP Paribas in London, has left the firm. Julia Wilks, head of U.K. fund derivatives, declined comment.

A system to exercise automatically deep in-the-money credit options on quarterly expiry dates is being considered in the markets as dealers look for a way to stamp out the potential for mistakes on the now frenzied quarterly exercise dates.

Citadel Investment Group is looking to add 50-100 equity specialists in Hong Kong, a move that will likely shake up compensation levels across the asset class and the market share of current players.

Calyon is marketing a managed collateralized debt obligation which offers exposure to cash and synthetic asset-backed securities to investors in Asia.

Five-year credit-default swap spreads on Delphi Corp. kept traders busy again last week, widening to 2,425 basis points Tuesday before tightening in to 2,025 bps Wednesday.

Danish firm Copenhagen Fund Management is preparing to launch its first structured product.

ISDA's Novation Protocol, which defines how to change the counterparty to a trade without unwinding the transaction, will be implemented Oct. 24.