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Wachovia Securities has put together a ranking of collateralized debt obligation managers based on collateral deterioration over time that places a number of leveraged loan managers near the top of the pile.

Federal Reserve watchers say Chairman Alan Greenspan could set a hawkish tone for rate hikes in the next six months at his biannual Humphrey-Hawkins testimony this Wednesday and Thursday.

Owens Corning's bank debt jumped 16 points last week, climbing to 107 1/2-108 1/2 after lenders took a bet that the U.S. Court of Appeals for the Third Circuit would overturn Judge John Fullam's decision on substantive consolidation.

Calyon in London has hired Rajiv Mareachealee for its high yield capital markets desk.

Deutsche Bank Private Wealth Management is looking to swap up to $700 million out of three-month high-grade corporate floaters and into five-year bullets as it exits a barbelled curve-flattening strategy.

A Canadian asset manager is set to launch a short-term bond fund next month.

The global default rate for speculative-grade credit may have bottomed out or will do so by the end of the quarter, according to David Hamilton, director of corporate default research at Moody's Investors Service.

The spread between distressed trading levels and ultimate recovery rates has been narrowing and is likely to remain historically small as defaults remain low and more investors push into distressed trading in a bid for yield, according to Kevin Kelhoffer, director in the risk solutions group at Standard & Poor's.

Fischer Francis Trees & Watts has adopted an underweight position to the corporate sector after cutting its allocation in recent weeks, said Sai Choy, portfolio manager in New York.

Outspoken government-sponsored enterprise critic Rep. Richard Baker (R-La.) will come out at the end of this month with what may be his best shot yet at passing a bill that will tighten the screws on mortgage giants Fannie Mae and Freddie Mac.