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The Credit Edge reviews the top credit news of the week and looks at the week ahead, with in-depth research of the most important corporate sectors, trends and themes. Analysis of specific corporate bonds and credit default swaps is backed by Bloomberg Intelligence's robust data sets and indexes.
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- AI Blitz and US Borrowing Binge Are Disrupting Debt Benchmarks · 44 minA borrowing boom among technology companies and governments is upending debt indexes, raising questions about their relevance to investors. “We’re actually starting to think…
- Mom-and-Pop Buyers Pounce on Battered Hyperscaler Bonds, Says Seelaus · 50 minMom-and-pop investors are buying hyperscaler debt after a selloff that has hit bonds with long maturities particularly hard, according to R. Seelaus & Co. “You’re just seeing…
- TCW Chops Credit Risk to Lowest in 30 Years as CCCs ‘Cry Uncle’ · 53 minTCW’s $160 billion fixed-income group has slashed credit risk to the lowest in three decades amid valuation and contagion concerns. “Look back over the last 30 years — you would…
- Blackstone Is Predicting a Big Surge in Quant Credit Investing · 50 minBlackstone is looking to more than double its $40 billion systematic credit business, which uses models to crunch data and build portfolios. “This can and should be a $100…
- Kirkland & Ellis Sees More Distressed Lenders Flipping Company Boards · 47 minMore private investors in distressed companies are looking to replace directors and take control, according to Kirkland & Ellis. “It’s a very important remedy — it candidly…
- Magnetar Scours $600 Billion Stressed Debt Pile for Bond, Loan Value · 53 minMagnetar Capital is scouring a $600 billion pile of troubled corporate bonds and loans for value as much of the debt comes due. “Yesterday’s buyout boom is today’s credit…
- Lumen’s CFO Looks Ahead After ‘Moonshot’ Debt Deal That Worked · 47 minLumen Technologies is reducing leverage and reinventing itself as an AI play after completing one of the biggest-ever out-of-court debt restructurings. “We had to keep as many…
- Hedge Fund Andromeda Warns of ‘Titanic’ Debt Disaster as Yields Soar · 55 minHigh global government yields are a growing threat to corporate debt markets, according to London-based hedge fund Andromeda Capital Management. “You either have to let long-term…
- Columbia Threadneedle Scans AI Debt Rush for Alpha Opportunity · 50 minColumbia Threadneedle is looking to outperform by buying into the flood of debt from companies building artificial intelligence infrastructure. “It’s really the best place to try…
- ‘Things Are Going to Get Crazier’: AI Debt Deluge Recalls 2007 Risks · 54 minMassive borrowing by artificial intelligence companies — some of it to fund their own customers — risks inflating a technology-sector bubble, according to Seaport Research…
- BMO Slashes Junk Debt Holdings as Geopolitical, Economic Risks Spread · 53 minBMO Asset Management, which oversees almost C$300 billion ($218 billion), has cut its junk-bond holdings and moved into safer parts of credit as geopolitical and macroeconomic…
- LBO Debt Coming Due Is Next Big Test for Credit Markets, Says ICG · 46 minCompanies need to move fast to refinance leveraged-buyout debt coming due over the next few years, according to ICG. “Folks should start getting ahead of it because the traffic…
- Investors Keeping Score on 'Bad PIK', Benefit Street Partners' Kumar Says · 54 minInvestors are increasingly wary of lenders who dish out so-called bad PIK, or payment-in-kind interest, to help struggling portfolio companies avoid default, according to Anant…
- Wellington Passes on Data Center Debt, Questioning Long-Term Value · 49 minData-center debt returns are falling, risk is rising and there’s uncertainty over what the properties may be worth in the long run, Wellington Management says. “We think a lot…
- Bull Run in Loans Slams CLO Equity Buyers, Says Eagle Point’s Majewski · 47 minCollateralized loan obligations face a second straight year of equity losses, according to Eagle Point Credit Management, a major buyer. “Where we stand right now, it’s certainly…
- Sona’s CEO Sees ‘Exciting’ Growth in Asset-Based Finance, SRTs · 45 minSona Asset Management is looking to expand its business in asset-based finance and significant risk transfers as public and private debt markets converge. “The thing that excites…
- SpaceX Bondholders Face Huge Key Person Risk on Their Elon Musk Trip · 36 minSpaceX bondholders are bolstered by a fat equity cushion, high-grade ratings and a relatively small amount of debt outstanding — but they depend on founder Elon Musk, according…
- Europe's Largest Asset Manager Warns of AI Debt Deluge Crowding Out · 50 minFurther acceleration in AI debt issuance has the potential to steer demand away from government bonds, according to Amundi, Europe’s largest asset manager. “At some point it…
- Real Estate Is Next Bet for Debt Investors Avoiding Private Credit · 45 minPrivate credit disarray spells opportunity for housing giant Pretium, which targets high returns by lending to US homebuilders. “Our private credit looks a little bit different…
- Oaktree Says Boring is Beautiful In Dicey Private Credit Market · 56 minPrivate lenders are going back to basics as debt trouble spreads, market participants tell Bloomberg News’ James Crombie in this special episode of the Credit Edge podcast…
