Credit markets
Financing Connect: real-time optimisation in private credit financing
J.P. Morgan’s Financing Connect, part of its Vida platform, reflects a shift towards structured data and scenario-driven analytics
NBFIs dominate US cross-border credit growth in Q3
Cross-border lending to US shadow banks rose $157 billion, second-highest level in five years
Ardagh CDS outcome satisfies some, but presents more questions
Early restructuring trigger and asset-package delivery could signify a new era for European trades
Best user interface innovation: J.P. Morgan
J.P. Morgan wins Best user interface innovation thanks to its Beta One portfolio solution
Banks hope new axe platform will cut bond trading costs
Dealer-backed TP Icap venture aims to disrupt dominant trio of Bloomberg, MarketAxess and Tradeweb
Analysts dismiss BDC credit quality concerns
Growing private credit worries helped drive losses, but fundamentals are said not to support that view
CLO market dismisses First Brands contagion worries
But investors say larger concerns remain for the product’s riskiest tranches
Cross-border lending to NBFIs hits record $678bn in Q1
Half of international bank credit flows to shadow banks, despite growing regulatory concerns
Market shocks push IRC to records at EU banks
Component for default and migration risk hits new highs at several dealers
From fragmented signals to confident credit decisions
Credit Benchmark and Oliver Wyman explore how aggregated bank data and advanced analytics are helping risk teams make confident, forward-looking credit decisions
Credit investors struggle to decide what tariffs will mean for defaults
Traders report difficulty evaluating risk, but elevated yields have kept demand strong nonetheless
Isda moves to fix outdated CDS obligations list
Updated process would allow for mass updates, reserving legal review for most complex challenges
CLO market shakes off ETF outflows
Despite record redemptions, exchange mechanics and relatively small volumes cushioned impact
Index CDS trading nearly doubles as tariffs spook market
Turnover ebbed in single-name contracts as iTraxx and CDX volumes climbed rapidly last week
Credit markets brace for Trump tariffs fallout
Traders have largely shrugged off the threat of global trade wars, but worries remain about economic weakness
BlackRock tests ‘quantum cognition’ AI for high-yield bond picks
Study uses Qognitive machine learning model to find liquid substitutes for hard-to-trade securities
TD’s prop-style trading shop rises up bond rankings
Ascent of bank’s bond trading business comes amid electronification changes in US fixed income market structure
Intrum auction gives CDS buyers minimal payout
Outcome seen as success for market that needed to adjust auction terms amid ongoing restructuring
Exchange of the year: Eurex
Risk Awards 2025: Eurex jolts credit futures market into life
Credit derivatives house of the year: JP Morgan
Risk Awards 2025: Continued investment in credit has created a virtuous circle of growth, as cash products support derivatives, and vice versa
MTS hopes BondVision revamp will double rates market share
Proni says dealer oversight on fees and data, and new order tech key to D2C push; swaps a possibility