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Euromoney hosted its inaugural High-Yield Debt Symposium in London last week, with roughly 50 buysiders, sellsiders, lawyers and rating agency officials in attendance.

Eagle Asset Management is looking to move its 5% corporate overweight to industrials from financials as it expects banks and brokers will underperform in a rising-rate environment.

Evergreen Investments may reverse its barbelled strategy in Treasuries and buy back the intermediate parts of the curve should the 2s/10s curve stabilize at 50 basis points, which may signal the end of curve flattening.

A huge untapped issuer base of about 1,500 unlisted middle-market companies in Germany each with over €250 million in revenues could transform the European high-yield market--if only bankers could convince them to issue bonds.

Japanese banks are playing a bigger role in the U.S. loan market by lending directly through their own braches in America and by investing in collateralized loan obligations and managed accounts.

GoldenTree Asset Management is exploring new strategies as the New York-based manager deals with a low volatility market and too much capital chasing assets.

GoldenTree Asset Management is in the process of liquidating $1.2 billion in high-yield bonds as part of a broader strategy to focus on absolute return investing and exit the long-only separate accounts business.

A typical second lien bank loan is secured by a lien on substantially all of the borrower's assets.

Leon Wagner, chairman of GoldenTree Asset Management, on the firm's plan to broaden and change its strategies, including an exit from long-only separate account management.

The European high-yield market is unlikely to experience much distress this year but will probably get hit by a rising wave of defaults in 2006 and 2007, according to David Newman, co-head of European credit research at Citigroup in London.

OppenheimerFunds is overweighting high-coupon mortgage-backed securities on the view MBS with coupons of 6 1/2% and higher are attractively priced, said Antulio Bomfim, portfolio manager of $10 billion in investment-grade fixed income in Boston.