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Credit Suisse First Boston in London has hired Toby Ali, executive director in leveraged finance at Lehman Brothers in London, as a director in leveraged finance origination.

Credit Suisse First Boston has hired Mychal Harrison, associate at Goldman Sachs, as v.p. in high-yield trading.

Fischer Francis Trees & Watts is increasing its holdings of 10-year U.S. TIPS and will finance the move by selling off the short and long parts of the U.S. TIPS curve.

Despite the recent widening in high-yield new issue spreads, coupons still have room to rise before reaching fair value by historical standards, said John Lonski, chief economist at Moody's Investors Service.

Ravi Joseph, managing director at Goldman Sachs in London and a veteran of the European securitization markets, has left the firm after joining from Morgan Stanley less than one year ago. The

London-based hedge fund Picus Capital Management has hired Matthew Robbins, v.p. in credit research at Dresdner Kleinwort Wasserstein in London, as an investment specialist.

Katonah Capital, the loan asset management subsidiary of Kohlberg & Co., has proposed that Sankaty Advisors, Blackstone Debt Advisors and INVESCO Senior Secured Management act as the replacement managers for a group of Katonah funds, potentially locking up more than $2 billion in assets that have been in play for the last month.

Morgan Edwards, managing director at Bear Stearns, explaining why he wanted to join the banks leveraged finance arm.

Lehman Brothers has arranged a $600 million collateralized loan obligation for Ares Capital Management called Ares IX CLO that uses the bank's Par structure.

A potential takeover of Meridian Automotive Systems by a financial sponsor and another auto-parts company is driving trading in the company's $165 million second lien.

A total of $1.5 billion was liquidated from high-yield mutual funds in the week ending March 23, marking the heftiest departure from the asset class in 10 months and the sixth consecutive week of outflows.

Nellson Neutraceutical's bank debt has softened with the $285 million first-lien loan trading around 95-96 and the $75 million second lien quoted at 87.