EUR AAA CLO

AAA trades today are steady at 99 dm in secondary for short ALs.

USD CLO AAA

$46m of flow today given month end, US LSTA 100 Index +151bp on prior month end.  1 x MM CLO short dated post reinvestment bond clip only trade at the AAA end, FCO 2025-29A A1 cover 100.2 at 115dm / 1.6y WAL.

USD CLO Mezz/Equity

One key benchmark trade today at the Single-A end where most of the flow was, MP18 2020-2A CR2 covers 100.20 at 202dm / 8.5y WAL which is right at our Single-A Index 198dm - Marble Point managed, MVOC 116.5, EoRP 2030, coupon +200bps, ADR 0.5.

EUR AAA CLO

AAA trades today are around 109 dm which is a few bps tighter, in line with what we have seen from OCP Euro 2025-13.

USD CLO AAA

$50m of flow first since last week given the long weekend.  US LSTA 100 Index -2bp on last CLO trading day, CLO spreads flat.  Weaker AAA bonds trade 144dm-148dm (AAA Index 132dm) with a MM CLO trade GOCAP 2016-30X AR2 covers 100.13 at 161dm / 2.3y WAL.

USD CLO Mezz/Equity

Most of the flow is in BB bonds with a trading range 536dm-1011dm with benchmarks 623dm-633dm (BB Index 633dm) with bonds wide of the index scaled by weaker MVOC profiles.

EUR AAA CLO

After seeing some tightening in the primary market secondary spreads are unchanged. Today’s trades are around 107 dm.

USD CLO AAA
$75m of flow today, US LSTA 100 Index -1bp dod and CLO spreads largely flat.  1 x AAA EMPWR 2025-1A A cover 100.13 at 134dm / 6.9y WAL - coupon +131bps, ADR 0 and managed by Empower Capital (AAA Index 132dm).

USD CLO Mezz/Equity

Most of the beenchmark flow is in BBB bonds, trading range 307dm-385dm with benchmarks 307dm-318dm (BBB Index 306dm).

USD CLO AAA

$156m of flow across the stack, a tightening theme with US LSTA 100 Index +3bp dod.  AAA trade 122dm-125dm (AAA Index 132dm).

USD CLO Mezz/Equity

We tighten our mezz index AA 176dm, A 201dm, BBB 305dm, BB 634dm, B 802dm.

EUR AAA CLO

EUR BWIC trading has resumed today. There are a bunch of AAAs with an average spread of 107 dm which is unchanged on recent days.

USD CLO Mezz/Equity

Only $22m of flow in BBB and Equity today, US LSTA 100 Index +2bp dod, BBB bonds are higher coupon profiles (+420bps-550bps) with no benchmarks trading, little change in the index levels.

USD CLO Mezz/Equity

Only $29m of flow today, spreads flat dod and US LSTA 100 Index +5bp dod.  BBB and BB flow today with one notable benchmark HARUS 2025-1A D1 cover 99.79 t 308dm / 9y WAL - MVOC 12, coupon +300, ADR 0 and Investcorp managed trades around our BBB Index 310dm

USD CLO Mezz/Equity

$43m of flow in mezz/equity today, US LSTA 100 Index +4bp dod.  Benchmark trades at AA (178dm area vs 180dm Index), A (192dm-210dm vs 205dm Index) and BB (621dm-660dm vs 639dm Index).

USD CLO Mezz/Equity

$191m of flow today with a continued tightening theme, US LSTA 100 Index +10bp dod.  Most of the flow is in BBs with a trading range of 588dm-926dm (BB Index 640dm).

USD CLO AAA

$98m of flow today across the stack, spreads continue to tighten.  US LSTA 100 Index +16bp dod.  1 x AAA benchmark BBAM 2022-1A AR covers 99.76 at 129dm / 6.5y WAL - MVOC 151, EoRP 2030, +120bps coupon, ADR 0.15 and RBC managed.

USD CLO Mezz/Equity

BBB trade 309dm-548dm with one benchmark ELMW3 2019-3A DRR cover 309dm / 8.3y WAL - Elmwood managed, MVOC 107.1, coupon +310bps, ADR 0.6 and clean metrics (BBB Index 313dm).

EUR AAA CLO

There are only a handful of trades today. Spreads are rangebound. CIFCE 5X A traded at 104 dm.

USD CLO AAA

$106m of flow today, tighter theme for spreads, US LSTA 100 Index +27bp dod.  1st pay AAA trade 124dm-135dm (AAA Index 137dm) and a tight 2nd pay print BCC 2024-4A A2 covers 99.93 at 158dm / 6.5y WAL (EoRP 2029).

USD CLO Mezz/Equity

 1 x benchmark BBB trade ARES 2016-39A DR3 cover 100.51 at 322dm / 8.2y WAL (EoRP 2029) - MVOC 109.6, coupon +325bps, ADR 0.89 and Ares managed (BBB Index 318dm).  1 x tight benchmark at AA with BCC 2019-1A BR2 cover 100.11 at 162dm / 4y WAL - MVOC 125.8, coupon +160bps and Bain managed (AA Index 183dm).

EUR AAA CLO

AAA spreads are steady at around 127 dm.

USD CLO Mezz/Equity

$25m of flow across BBB and BB notes, US LSTA 100 Index +10bp dod.  BBB trade 256dm-453dm with small clip benchmarks trading 327dm-328dm (BBB Index 323dm).

USD CLO Mezz/Equity

$96m of flow today across the mezz/equity stack, spreads stable and US LSTA 100 Index +17bp dod.  AA trade 176dm-210dm with benchmarks 184dm-188dm (AA Index 187dm).  In terms of other benchmarks BBB trade 319dm-390dm with benchmark bonds 319dm-331dm (BBB Index 324dm).

USD CLO AAA

$165m of flow today, US LSTA 100 Index +9bp dod and spreads remain a firmer tone.  AAA benchmarks trade 133dm-138dm in good sizes (AAA Index 139dm).

USD CLO Mezz/Equity

BB trade 577dm-822dm with benchmarks 646dm-674dm (BB Index 658dm).  Plenty of BBB activity with a trading range of 285dm-497dm with benchmarks 321dm-323dm (BBB Index 324dm).

EUR AAA CLO

AAA spreads are a little tighter again with spreads today around 116 dm.

USD CLO AAA

$174m of flow cross the cap stack today, spreads flat/slightly firmer, US LSTA 100 Index +17bp on Friday close.  AAA trade 102dm-160dm with benchmarks 140dm-141dm (AAA Index 140dm), 1 x 2nd pay WBOX 2023-4A A3R covers 100.17 at 182dm / 5y WAL which is right about where we have 2nd pays marked.

USD CLO Mezz/Equity

AA saw some good flow today across 6 trades in a trading range of 173dm-188dm with benchmarks 187dm-188dm right around our our AA Index 188dm.

USD CLO AAA

$345m of flow, dominated by AAA flow in good size and a tighterning effect.  US LSTA 100 Index -2bp dod,  AAA trade 116dm-129dm with benchmarks around the wider end of this range, we tighten our AAA Index to 141dm.

USD CLO Mezz/Equity

BBB trade tighter too, trading range 295dm-448dm with benchmarks 322dm-331dm with our BBB Index 332dm.

USD CLO Mezz/Equity

$26m of flow today on month end, market has a firmer feel, US LSTA 100 Index +50bp on March month end.  BBB and BB flow today, BBB trade 307dm-496dm with one benchmark OHALF 2015-1A DR3 1.5m clip cover 100.20 at 347dm / 5.8y WAL - Oak Hill managed, MVOC 109.2, EoRP 2027, coupon +320bps and clean credit metrics (BBB Index 337dm).  BB trade 564dm-798dm with few benchmarks (BB Index 678dm).

EUR AAA CLO

AAA spreads have rallied hugely in the last 2 weeks and continue to grind in making primary issuance a valid proposition again. Spreads today in secondary are around 117 dm.