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Barclays Capital has priced a $230 million market value (MV) collateralized loan obligation for Durham Asset Management called Credit Genesis 2005-1 that will enable the hedge fund to invest in stressed, distressed and par bank loans.

Investors have been hearing chatter that the $2 billion "B" loan for General Growth Properties may be repriced.

GE Asset Management is considering rolling out emerging market debt and bank loan strategies.

Last week's huge, unscheduled Freddie Mac sale of agency bullets shocked traders with its size and proximity on the yield curve to the Federal Home Loan Banks' two-year global bond that was priced the same day.

High-yield market participants say transparency in the credit markets is rearing its head, with the National Association of Securities Dealers' Trade Reporting and Compliance Engine (TRACE) hampering the ability to trade large blocks of bonds in a declining market.

Independent credit research shop Gimme Credit is launching intraday research later this month to provide credit analysis of daily events in the market as event-driven situations play an increasing role.

--Marilyn Cohen, president and ceo of Envision Capital Management, on her plans to add to her credit exposure selectively if and when spreads widen further.

Merrill Lynch research analysts are increasingly focusing on trade ideas across asset classes as volatility increases in the marketplace, said Yaw Debrah, co-head of global equity-linked research.

Lenders to U.K. contractor Jarvis have taken a massive hit over the past two weeks with the debt plummeting to 20 from the mid 40s following a proposed debt-for-equity swap and an interim financing package underwritten by Deutsche Bank and a group of hedge funds.

Envision Capital Management is putting money to work in short-end Treasuries until credit spreads widen further, said Marilyn Cohen, president and ceo of the around $220 million primarily investment-grade fixed-income fund.

J.P. Morgan in London has hired Will Oswald, director and head of interest-rate and external debt relative value strategy for Eastern Europe, Middle East and Africa at Deutsche Bank in London.