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Although fundamentals are still strong, Asian issuance is on hold as the external environment remains fragile
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Credit Suisse First Boston has named two new regional credit heads, following the departure of Amar Kuchinad.
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Vienna-based UNIQA Alternative Investments is looking to invest up to €75 million in collateralized loan obligations and another €40 million in euro-denominated commercial mortgage-backed and residential mortgage-backed deals, according to Philipp Mayer, portfolio manager.
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John Fraser, a portfolio manager with Angelo, Gordon & Co., has left the firm only weeks after the departure of Jeff Aronson, the portfolio manager responsible for all of the firm's distressed securities and leveraged loan efforts.
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Half of the major bond insurers have been in the headlines for negative reasons in recent weeks and their troubles could pose problems ahead for the bond markets they are so entrenched in.
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Some economists are beginning to speculate the Federal Reserve will go too far in raising rates and could overshoot its neutral target, which may cause the yield curve to invert for the first time since 2000.
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Credit Suisse First Boston bought a $166 million portfolio of approximately 50 par names from the firm's asset management division in an auction held Thursday.
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Mark Brodsky and Adam Stanislavsky are in the process of raising capital for a new hedge fund called Aurelius Capital Management.
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Evergreen Investments wants to pick up single names trading at a discount in a high-yield market where many names are trading at a premium, said Dick Cryan, lead manager of the $500 million Evergreen Select High-Yield Bond Fund in Boston.
